SAN FRANCISCO, March 6 morning news: To win over America's most popular quiz show, IBM announced on Monday that the third-largest U.S. bank, Citigroup, will become a client of Watson, marking the first adoption in the financial sector.
Watson will assist financial institutions in analyzing user needs, handling financial and economic data along with personalized digital banking services. IBM anticipates that applying Watson in the commercial area will bring significant returns for the company. Prior to this, IBM has sold Watson to health insurer WellPoint and medical institutions such as Seton Health, Longchamp Sale, where Watson analyzes data to help these enterprises improve service quality.
IBM Watson Solution Manager Ma Nuoyi • Sajie (Manoj Saxena) stated that the financial services industry will be a key focus area for Watson's development. IBM is confident that after some adjustments, Watson can read and understand 200 million pieces of data within three seconds, helping financial institutions identify risks, benefits, and customer demands that may have been overlooked by industry experts.
According to Michael Versace (Michael Versace), the global risk research director at IDC Financial Insights, the banking industry invested 400 billion U.S. dollars in artificial intelligence in 2011. Ed Maguire (Ed Maguire), a credit analyst at Credit Agricole Securities USA, wrote in a research report in November 2011 that Watson will generate 2.65 billion dollars in revenue for IBM by 2015.
Related reports indicate that IBM's supercomputer Watson, two years after its debut in medicine, continues to evolve. IBM executives emphasized that Watson is not a competitor to Google search or microblogging platforms.
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