How banks are using Watson - Digiday

Despite banks' simultaneous excitement and fear of artificial intelligence as perhaps one of the most transformative technologies for their business, they've been quieter about IBM's Watson. Watson is a cognitive technology and super-computer comprising AI that "learns" how to draw conclusions from data, natural language understanding – which allows it to read and understand unstructured data, like social media posts and digital photos – and a search engine that can comb through millions of data points in seconds. It holds enormous promise in the long term for banks, who hold troves of customer data they're constantly studying and using to create better customer experiences as well as improve operational efficiencies. "What a Watson could deliver to banks would be tools to ensure sales people are selling the right things to the right people at the right time," Gilbert said. "Wells Fargo probably wouldn't have an eight financial product sales challenge if it had a Watson," because Watson wouldn't have allowed such rules to be set for employees to follow.