As the global leader in cognitive solutions, IBM's Watson is one of the top artificial intelligence offerings for financial services companies; Brian Walter is IBM's Global Leader of Watson Client Insights and Cognitive Experience for the company's Watson Financial Services Solutions group; Brian Walter gave a keynote speech on Tuesday at LendIt USA and also talked with Forbes about how artificial intelligence is changing the financial world; in his interview with Forbes he discusses the use of cognitive solutions for financial services compliance, customer service and customer acquisition; also talks about IBM's cognitive solutions for supporting banks, fintechs and developers. Source
IBM Watson will be further expanding in financial services by partnering with H&R Block's 70,000 tax professionals at 10,000 locations; Watson has learned 74,000 pages of tax code through its natural language processing capability and will be able to help tax professionals at H&R Block's branches; the new services have been tested at 100 locations and will begin being used in February; overall, IBM plans to market Watson as a business service solution with its capabilities offered to consumers through innovative business partnerships. Source
Lend Academy provides details on IBM Watson's acquisition of Promontory Financial Group, a firm used to help navigate complex banking regulations; IBM has acquired Promontory to train Watson on Dodd-Frank which includes 22,000 pages of regulation; Promontory has experience from a long list of banking veterans and will help train Watson on financial risk modeling, surveillance, anti-money laundering (AML) and Know Your Customer (KYC); the result will be an artificial intelligence solution that can be implemented for all aspects of compliance, regulation and monitoring; Brian Walter, Watson global industry leader for banking and financial markets at IBM will be speaking at LendIt USA 2017 in a featured keynote discussing how financial firms are using artificial intelligence and how it's expected to evolve. Source