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Primeur weekly 2013-07-15

Special

Supercomputer acting as a discovery machine for neuroscience ...

Exascale supercomputing

Jack Dongarra helps design software for the next generation of supercomputers receiving $1 million grant ...

The Cloud

e-Infrastructures for e-Sciences 2013 ...

EastWest Bank chooses HP to build private Cloud ...

IBM accelerates Cloud computing on System z with acquisition of CSL International ...

IBM closes acquisition of SoftLayer Technologies ...

L'Oréal Uruguay consolidates IT infrastructure into the private Cloud and reduces power consumption with IBM PureSystems ...

Oracle announces availability of Cloud Application Foundation, the #1 application foundation across conventional and Cloud environments ...

Oracle expands support for mobile and Cloud technologies with the latest Java development tools and framework ...

US Ignite recognizes RENCI and NC State for innovative app for monitoring power grids ...

EuroFlash

MINES ParisTech selects Bright Cluster Manager for materials science research cluster ...

European Commission to launch survey about Future Internet Assembly ...

Bull launches StoreWay Optima 4600: reaffirming its presence in the new-generation data handling market ...

DANTE celebrates 20 years of networking excellence ...

Oracle Enterprise Manager 12c deployed by CERN to manage its Oracle infrastructure ...

PRACE Winter School 2014 to be held in Tel Aviv, Israel ...

USFlash

Professor Jack Dongarra announces new supercomputer benchmark ...

CASL milestone validates reactor model using TVA data ...

DOST to strengthen weather forecasting to benefit farmers ...

Fujitsu M10 achieves world-record result on two-tier SAP SD standard application benchmark ...

Fujitsu integrates internal database platform using SPARC M10 servers ...

1Wealth Trading Company opines on IBM's foray into global banking ...

Golf Channel selects Oracle's Pillar Axiom Storage System to support rapid growth and new reality programming ...

Stephen F. Austin State University readies for growth; speeds registration, adds 8X capacity and unlocks IT for strategic projects ...

TACC supercomputers help microfluidics researchers make waves at the microscopic level ...

1Wealth Trading Company opines on IBM's foray into global banking

6 Jul 2013 Sydney - For large banking institutions, it can prove difficult to handle the sheer volume of inquiries and requests from patrons and clients - but 1Wealth Trading reports that IBM has innovated a surprising solution to this common conundrum. Indeed, IBM recently announced that it would begin offering its much-touted "Watson" supercomputer to banks and major financial companies, helping them to handle customer inquiries with greater efficiency and precision. The Watson supercomputer has already been heralded as the dawn of a "new era of cognitive computing systems", and IBM's belief is that it will make bank service quicker and more satisfactory than ever before. The Sydney-based company 1Wealth Trading has issued a new statement, commenting on IBM's announcement and on the impact Watson could have on bank consumers.

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.
Source: 1Wealth Trading

Back to Table of contents

Primeur weekly 2013-07-15

Special

Supercomputer acting as a discovery machine for neuroscience ...

Exascale supercomputing

Jack Dongarra helps design software for the next generation of supercomputers receiving $1 million grant ...

The Cloud

e-Infrastructures for e-Sciences 2013 ...

EastWest Bank chooses HP to build private Cloud ...

IBM accelerates Cloud computing on System z with acquisition of CSL International ...

IBM closes acquisition of SoftLayer Technologies ...

L'Oréal Uruguay consolidates IT infrastructure into the private Cloud and reduces power consumption with IBM PureSystems ...

Oracle announces availability of Cloud Application Foundation, the #1 application foundation across conventional and Cloud environments ...

Oracle expands support for mobile and Cloud technologies with the latest Java development tools and framework ...

US Ignite recognizes RENCI and NC State for innovative app for monitoring power grids ...

EuroFlash

MINES ParisTech selects Bright Cluster Manager for materials science research cluster ...

European Commission to launch survey about Future Internet Assembly ...

Bull launches StoreWay Optima 4600: reaffirming its presence in the new-generation data handling market ...

DANTE celebrates 20 years of networking excellence ...

Oracle Enterprise Manager 12c deployed by CERN to manage its Oracle infrastructure ...

PRACE Winter School 2014 to be held in Tel Aviv, Israel ...

USFlash

Professor Jack Dongarra announces new supercomputer benchmark ...

CASL milestone validates reactor model using TVA data ...

DOST to strengthen weather forecasting to benefit farmers ...

Fujitsu M10 achieves world-record result on two-tier SAP SD standard application benchmark ...

Fujitsu integrates internal database platform using SPARC M10 servers ...

1Wealth Trading Company opines on IBM's foray into global banking ...

Golf Channel selects Oracle's Pillar Axiom Storage System to support rapid growth and new reality programming ...

Stephen F. Austin State University readies for growth; speeds registration, adds 8X capacity and unlocks IT for strategic projects ...

TACC supercomputers help microfluidics researchers make waves at the microscopic level ...