IBM Watson Capabilities Being Pitched to Financial Industry-Congress Must Not Have Felt They Needed This So Further Behind We Fa
Posted Apr 04 2011 8:06pm
According to this article today IBM is determining how to bring the Watson technology to the financial service business, as speed dealing with unstructured data is not going away…hmmmm….something that could help makes laws too. So far all I have read with the potential use in government is that there was a small demonstration given to where one Congressman beat the computer so maybe based on this they determined it’s not of use?
In the article it states the powerful features of Watson could allow hedge fund managers to quickly make more informed decisions about investments to make, or to avoid so it looks like the Hedge Fund companies may get to use Watson’s lightening speed decision making power long before it ever touches down in Washington. The technology could certainly help in healthcare too, but can we get some priorities here right now? Healthcare needs laws too before many programs can begin or change.
Like I sad before our lawmakers need this technology and you can only lead a horse to water but you can’t make them drink so the continued soap operas and less than intelligent and/or productive scenarios continue. I’ll mention a prior post here about the movie “Inside Job” and you can hear to where they are speaking about levels of intelligence that consumers do not know about and the continuance of using them for profit.
The longer we keep taking knives to gun battles when it comes to algorithmic predictions, intelligence and data analysis, the further behind we fall and that hurts all of us as laws are made to govern technology and if it is not being used or understood, then a lot of nothing tends to happen. I said a few weeks ago that the technology would be sold on Wall Street and it didn’t take long for an article to come out to substantiate that fact. BD
The software that helped IBM's Watson computer reign victorious on the Jeopardy game show in February could also help the financial industry assess risk more effectively, a pair of IBM executives stated on Monday at a high-performance computing conference.
Staten, along with Eddie Epstein, who led the technical team behind the IBM Watson computer, both spoke Monday at the High Performance Computing Linux Financial Markets conference, held in New York.
"The financial community is always interested in reducing risk and being more assured of their decisions. The analytics behind Watson can help with some of that," said Jean Staten, IBM's director of cross-company Linux usage, in an interview with IDG.
The Watson system used a variety of open source technologies to help generate answers, each with its own set of algorithms for deriving answers. The Apache Hadoop data processing framework was used for preprocessing the vast amounts of unstructured data that IBM had collected for the challenge. The Apache UIMA (Unstructured Information Management Architecture) provided the framework for deploying search engines, such as Apache Lucene and the Indri inference engine , that would figure out the best answers from a variety of perspectives.