In my opinion, IBM’s Watson computer is both amazing and creepy, all in a nice circuit board-filled package. The computer has already taken on Jeopardy champs and is assisting doctors at WellPoint. Now the computer will be using its nearly human-like ability to think to help Citigroup with risk analysis projects and other financial offerings.
Watson’s services will be cloud-based and IBM will earn a portion of both the added revenue generated by Watson as well as a percentage of the savings that Citigroup realizes due to the computer’s services.
If you’re like me, you may be asking yourself, “So how does Watson help a financial services firm?” Thankfully a Bloomberg.com article answers this question courtesy of Manoj Saxena, IBM’s go-to-guy for Watson jobs.
“Watson offers a “more global” picture by looking beyond financial data, Saxena said. For example, Watson can comb 10-Ks, prospectuses, loan performances and earnings quality while also uncovering sentiment and news not in the usual metrics before offering securities portfolio recommendations. It can also monitor trading, news sources and Facebook (FB) to help a treasurer manage foreign exchange risk.” Source: Bloomberg
I reiterate my pretty-cool-but-kind-of-creepy sentiments. From a technological standpoint I am absolutely amazed that a single computer can be fine-tuned to work in a variety of industries. At the same time, the Skynet computer system featured in the "Terminator" movie series comes to mind.
What say you MNN readers: is IBM’s Watson the first step to a new high-tech future or a bit outside of your comfort zone?