1Wealth is widely considered to be one of the top developers of next-generation trading and banking technologies, and indeed, has been incorporating similar technologies into its stock market trading systems for many years. As such, the company is nothing if not qualified to opine on IBM's bid to banks. The company predicts that Watson will be embraced by banking customers, especially in Australia.
"Watson is not some computerized answer service that lists options from a menu", the company stated. "We're talking about a highly intelligent piece of technology that is continuously learning from interactions with customers and drawing on huge amounts of data to provide informed and personalised answers."
Watson's intelligence is well-documented, and difficult to dispute. Its advanced capabilities were most clearly seen on an episode of the U.S. TV show Jeopardy, in 2011; on the show, the computer essentially outsmarted the show's two greatest champions, Ken Jennings and Brad Rutter. Going back farther, to 1997, Watson's predecessor, Deep Blue, made waves when it defeated Russian world champion chess player Garry Karparov in a six-game match.
Of course, computing ability alone is not enough to ensure Watson's successful transition into the banking industry. Commented 1Wealth: "The technology itself is incredible, but the challenging part is finding ways for it to positively impact the customer."
The introduction of Watson into the banking industry marks a major turning point in how banks handle customer service. In fact, 1Wealth said that it marks the beginning of a crossover in how technology from the corporate sector makes its way into the consumer world.
"Companies like 1Wealth have been using adaptive technology for many years", the firm noted, in closing. "1Wealth has long been admired for its innovative and strategic stock market trading solutions that consistently produce above-average returns for clients, year after year. As Watson makes its way to banks across the world, we hope that more companies will focus on using technology to aid consumers instead of simply analysing them and marketing to them."
1Wealth is devoted to implementing technologies that help investors trade more effectively.