26 July 2017
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USAA takes stake in cognitive computing firm

14 June 2017  |  3918 views  |  0 back of one dollar note

USAA is to implement artificial intelligence technology to improve customer services following participation in a $15 million funding round for CognitiveScale.

USAA says it will deploy CognitiveScale's Financial Services suite of AI-based tools to deliver predictive, data-driven banking and insurance services while learning continuously from user interactions and data.

“USAA has a long history of using emerging technologies to develop innovative ways to serve our members,” says Nathan McKinley, VP and head of corporate development for USAA. “Our work with CognitiveScale allows us to support such innovation through our investment while also leveraging the AI products they have today to find ways to better serve our members.”

The Austin Texas-based firm says USAA will follow its 10-10-10 deployment model, which helps businesses select and model their first cognitive system in 10 hours, configure that system using their own data in 10 days, and deploy it within 10 weeks.

Other investors in the latest round - which brings total funding for the company to $50 million - include Norwest Venture Partners, Intel Capital, Microsoft Ventures, and The Westly Group.

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