WatsonImpressed by the speed and accuracy with which Watson churned out answers (or rather, "questions") in its winning performance in the Jeopardy! Challenge last year?

Citigroup (C) was, too -- so much so that it has hired the supercomputer to assist its in-house, human financial professionals.

Under a partnership with IBM (IBM), Citi will use Watson's lightning-speed ability to crunch the equivalent of 1 million books-worth of information per second and process information in the context of human language.

Watson's New Career Path

Outside of its famed Jeopardy! appearance, where it trounced Jeopardy! uber-champions Brad Rutter and Ken Jennings in a two-game, three-day event, Watson has largely stayed out of the public spotlight.

Most of its work has been behind the scenes in the medical field. Now Citi says it wants to assess ways to use a "first-of-a-kind customer interaction solution" with Watson's capabilities to advance its digital banking.

"We are working to rethink and redesign the various ways in which our customers and clients 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," says Don Callahan, Citi's chief administrative officer and chief operations and technology officer, in a statement.

Big Blue's clever machine could aid financial professionals in making better business decisions, crunching reams of data to offer up a targeted opportunities, risks and alternatives on a customer-by-customer basis.

On the consumer front, Watson's technologies could be used to improve interactions with customers, analyze their needs, and simplify their banking experience. It has yet to be determined what degree of direct interaction Watson will have with Citi customers in the financial services field.

Watson, however, isn't shy, and would likely do well with in face-to-face customer interactions. After all, it has its own Facebook and Twitter account. So what if it can't smile ...

Motley Fool contributor Dawn Kawamoto does not own stock in any of the companies mentioned. She did, however, tune into the Jeopardy! Challenge and rooted for the underdogs -- aka, humans. The Motley Fool owns shares of Citigroup.




Increase your money and finance knowledge from home

Banking Services 101

Understand your bank's services, and how to get the most from them

View Course »

Introduction to Retirement Funds

Target date funds help you maintain a long term portfolio.

View Course »

Add a Comment

*0 / 3000 Character Maximum

20 Comments

Filter by:
Harry Piels

Watson is a triumph , truly amazing. I can see many applications especially if it can be reproduced on a smaller scale. Couldn't we all use W. at tax time?

p.s. spring forward, fall back

March 11 2012 at 11:45 AM Report abuse rate up rate down Reply
BruceandMelinda

Have you people learned nothing from the Terminator movies?

March 11 2012 at 8:02 AM Report abuse rate up rate down Reply
JOSEPH

Wiouche sure has a limited vocabulary.

March 11 2012 at 7:43 AM Report abuse rate up rate down Reply
joejoegolfn

I will never invest in the stock because it is a big scam. The only reason it is where it is now is all the money printing the fed is doing. The way inflation is starting to creep up the market will have to reach 16000 just to break even. How much did you lose from 2000 to 2008. A least 30 percent to inflation. I learned from a very smart man in 1969 not to get in the market. If most of the people say it's a bad investment then buy it, so I did. I bought gold, silver and whole life insurance with a couple of dividend riders from a mutual insurance company with no shareholders, just policy holders. I have never lost a dime even during stock market crashes. Look at gold and silver today. Most of the gold and silver I hold is 35 times what I paid for it. Real bad investments

March 10 2012 at 9:16 PM Report abuse rate up rate down Reply
joejoegolfn

I will never invest in the stock because it is a big scam. The only reason it is where it is now is all the money printing the fed is doing. The way inflation is starting to creep up the market will have to reach 16000 just to break even. How much did you lose from 2000 to 2008. A least 30 percent to inflation. I learned from a very smart man in 1969 not to get in the market. If most of the people say it's a bad investment then buy it, so I did. I bought gold, silver and whole life insurance with a couple of dividend riders from a mutual insurance company with no shareholders, just policy holders. I have never lost a dime even during stock market crashes. Look at gold and silver today. Most of the gold and silver I hold is 35 times what I paid for it. Real bad investments

March 10 2012 at 9:15 PM Report abuse rate up rate down Reply
wlouche

Watson 2012

March 10 2012 at 1:17 AM Report abuse rate up rate down Reply
wlouche

Watson 2012

March 10 2012 at 1:17 AM Report abuse rate up rate down Reply
polsonbxk

Let's see how big of a bonus "Watson" gets next year after he does all the work.

March 09 2012 at 7:06 PM Report abuse +2 rate up rate down Reply
polsonbxk

Let's see how big of a bonus "Watson" gets next year.

March 09 2012 at 7:05 PM Report abuse +1 rate up rate down Reply
wlouche

Watson 2012

March 09 2012 at 12:36 AM Report abuse rate up rate down Reply