Citigroup has entered into an agreement with IBM to explore possible uses for IBM Watson, the financial services company announced today.
Citi will examine the use of deep content analysis and evidence-based learning capabilities found in IBM Watson to help advance customer interactions, the company sources said.
The company will evaluate ways that IBM Watson technologies can help analyse customer needs and process vast amounts of up-to-the-minute financial, economic, product and client data.
Watson is known for its ability to analyse the meaning and context of human language, and quickly process vast amounts of information to suggest options targeted to consumers' individual circumstances. Citi wants to exploit these capabilities.
"At Citi, we are constantly developing new, innovative ways to better serve our customers' financial needs," said Don Callahan, Citi's chief administrative officer and chief operations & technology officer. "We are working to rethink and redesign the various ways in which our customers 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."
"The collaboration between IBM and Citi will explore how applying Watson in the consumer financial market could help empower financial professionals to make better business decisions and represents a significant step in delivering on the promise of personalised banking in the 21st century," said Mike Rhodin, senior vice president, IBM Software Solutions.
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