01 November 2014

Citi turns to IBM's Watson supercomputer for Big Data challenge

05 March 2012  |  8501 views  |  0 dodgy man

Citibank has entered into an agreement with IBM to explore possible uses for Big Blue's Watson supercomputer in mining customer data.

IBM's Watson machine caused a stir last year when it beat two human competitors to claim the $1 million prize on the US quiz show Jeopardy. Unusually for a computer programme, Watson excels at analysing the meaning and context of human language, aligned with the ability to quickly process vast amounts of information.

Citi says it will evaluate ways that the technology can help decipher customer needs by sifting through huge quantities of up-to-the-minute financial, economic, product and client data.

Don Callahan, Citi's chief administrative officer and chief operations & technology officer, says: "We are working to rethink and redesign the various ways in which our customers and clients interact with money. 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."

He says Citi will assess ways to use "a first-of-a-kind customer interaction solution combined with Watson's deep-content analytics, natural language processing, decision support, and evidence-based learning".

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

31 January, 2012
03 October, 2011
22 September, 2011
17 November, 2010
25 October, 2010
22 July, 2010
15 February, 2010

Related company news

 

Featured job

Basic £130-140K OTE £250K (no ceiling)
London based and across EMEA

Find your next job