IBM (NYSE: IBM) has big plans to use its Jeopardy! champion “Watson” on Wall Street far beyond a deal announced with Citigroup on Monday.
Like generating big money in revenues for analysis of investment risks, forecasts and portfolio analysis.
So reports Bloomberg.
“IBM executives say Watson’s skills – understanding and processing natural language, consulting vast volumes of unstructured information, and accurately answering questions with humanlike cognition – are also well suited for the finance industry,” Bloomberg reports.
Quoting IBM executive Manjo Saxena, financial services is “the next big one for us” in the data analytics space with a portion of revenues that will have “a B next to it.”
Watson already has been retained for work in life science and health.
Bloomberg notes Watson’s remarkable power:
“IBM is confident that with a little training, the quiz-show star that can read and understand 200 million pages in three seconds can make money for IBM by helping financial firms identify risks, rewards and customer wants mere human experts may overlook.”
The Big Blue blog wrote Monday that maybe Watson would be your next bank teller or ATM.
Add to that now financial advisor.
Read the full Bloomberg report here.
IBM employs some 10,000 people across North Carolina.
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