Feeds

IBM's Watson gets a job on Wall Street

Citi looks for smart customer support

  • alert
  • submit to reddit

HP ProLiant Gen8: Integrated lifecycle automation

IBM has signed a deal with banking group Citi to use the data-analyzing abilities of the Watson supercomputer to help deal with its customers.

Citi will try out Watson – which beat off human competition to win the US quiz show Jeopardy! last year – in a variety of roles. These could include building customer profiles based on their banking interactions, blogs, and Twitter feeds, and using those profiles to advise human staff on loans and transactions.

IBM Watson QA Power7 cluster

Meet the new replacement for Sanjay Bert from Bangalore Texas

"IBM continues to advance Watson in information intensive industries, enabling organizations to quickly gain valuable insights from vast amounts of data that can speed decision making and improve how companies serve their customers," said Mike Rhodin, VP of IBM Software Solutions, in a statement. "The collaboration between IBM and Citi will explore how applying Watson in the consumer financial market could help empower financial professionals to make better business decisions and represents a significant step in delivering on the promise of personalized banking in the 21st century."

Competing in a game show might not be the best training for working in a bank, but IBM says it has upgraded Watson for the business world. The gaming system just answered one question at a time, but the more businesslike Watson will be able to engage in multiple email conversations, and will ask questions of its own to get the data it needs. Number-crunching capabilities will also be added in the future.

Anyone who has dealt with some of the so-called "smart" customer-service software that is currently in use might be clutching their head at the thought of having a vital loan application scrutinized by a computer, but Citi and IBM are confident they can make the system work and not have customers tearing their hair out.

"We are working to rethink and redesign the various ways in which our customers and clients interact with money," said Don Callahan, Citi's Chief CTO. "We will collaborate with IBM to explore how we can use the Watson technology to provide our customers with new, secure services designed around their increasingly digital and mobile lives." ®

Reducing security risks from open source software

More from The Register

next story
Sysadmin Day 2014: Quick, there's still time to get the beers in
He walked over the broken glass, killed the thugs... and er... reconnected the cables*
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
SHOCK and AWS: The fall of Amazon's deflationary cloud
Just as Jeff Bezos did to books and CDs, Amazon's rivals are now doing to it
BlackBerry: Toss the server, mate... BES is in the CLOUD now
BlackBerry Enterprise Services takes aim at SMEs - but there's a catch
The triumph of VVOL: Everyone's jumping into bed with VMware
'Bandwagon'? Yes, we're on it and so what, say big dogs
Carbon tax repeal won't see data centre operators cut prices
Rackspace says electricity isn't a major cost, Equinix promises 'no levy'
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.