One of the biggest developments in computing has been cognitive computing–self-learning computer systems that use natural language, data mining, and pattern recognition to closer emulate the way that the human mind works. One great example of this is IBM Watson–a supercomputer that has access to unparalleled amounts of data and can use this data to draw patterns for healthcare, climate change, security, and finance. It’s a powerful technology that definitely seems a little scary, before you learn more about it.
IBM has done a great job of explaining Watson in a series of brief videos that illustrate just how helpful the computing resource can be.
See? Not so threatening. AND useful in a variety of situations.
For instance, IBM can help banks by applying cognitive analytics to social media and finance data:
And it can also keep track of market movements so that those who are making the financial decisions have a better idea of what’s going on:
All of this is definitely exciting news. But it will be interesting to see how the relationship between finance professionals and supercomputers develop in the future. Are jobs at stake?
For more information on how IBM Watson works, check out this video for more information.
If you’re interested in the intersection of tech and finance, check out this blog on how blockchain is revolutionizing the banking industry.