IBM Watson brings together a set of transformational technologies to drive optimized outcomes.
Cognitive computing enables peoples to create profound new kind of value finding answers and insights large volumes of data.
In every industry such as BFSI, Healthcare, Retail etc. the volume of information the deal with on a daily basis in order to derive value from it, this process serves to enhance human expertise.
Watson and its cognitive capabilities gives some of the key cognitive elements of the human expertise. Watson can understand unstructured data which is 80% of the data today. The world is being disrupted by the sheer amount of data available and the potential to harness it is beyond traditional analytics.
Historically, artificial intelligence in the Finance sector has been limited to algorithmic systems that can trade stock at lightening speeds. Yet such programmes, designed to exploit tiny differences in value, have little understanding of any wider business context.
IBM Watson is different. As a cognitive system Watson absorbs human learning and uses it support human processes rather than blindly chasing profits. Finance is not closed system, its effected by world by legislation even by the emotions of the people involved which is why Watson just doesn’t understand matter of human language it can actively communicate with us. And it all being utilized to helps to leverage the future of finance.
Watson could democratize access to such services. It can be the work alongside with Bank Manager or interact directly with clients to create picture of their client personality type, risks and objectives this information helps Watson tailored portfolio to any potential investor.
Especially in Banks below are the areas Watson can leverage areas such as Account Information, Credit card Debt, Mortgages and more.
Working with IBM Watson Insurance companies founding center of competence to examine, build and deploy such cognitive applications utilizing Watson.
Finally, Watson is taking work out of paper work. The whole financial sector famously heavily regulated often to the point where institutions struggle to keep up, many financial institutions are ready to use Watson to analyze financial data to improve overall process.
Watson promise for the financial sector – help the live up, better service in the front office and better decision making at deeper levels of the organization
Majorly financial institutions have the opportunity to lead the transformation through the power of Cognitive computing.
SoftPath Technologies enables companies embrace Digital Revolution. We offer expertise in the area Mobile and Cloud (MWaas, PaaS, DBaaS) Business Process Management, Technology Integrations, SOA and Enterprise Content Management. We help our clients optimize cost, increase revenue, improve customer retention and increase customer satisfaction. For more information on our products and services please visit http://www.softpathtech.com.
SoftPath Tech Blog 
Leave a comment