We propose photonic reservoir computing as a new approach to optical signal processing in the context of large scale pattern recognition problems. Photonic reservoir computing is a photonic implementation of the recently proposed reservoir computing concept, where the dynamics of a network of nonlinear elements are exploited to perform general signal processing tasks. In our proposed photonic implementation, we employ a network of coupled Semiconductor Optical Amplifiers (SOA) as the basic building blocks for the reservoir. Although they differ in many key respects from traditional software-based hyperbolic tangent reservoirs, we show using simulations that such a photonic reservoir can outperform traditional reservoirs on a benchmark classification task. Moreover, a photonic implementation offers the promise of massively parallel information processing with low power and high speed.