DBS Bank and IBM announced an agreement in which DBS will deploy IBM’s Watson cognitive computing innovation to deliver a next- generation client experience.
This collaboration is part of an ongoing journey by DBS to shape the future of banking.
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For a start, DBS intends to apply Watson to its wealth management business to improve the advice and experience delivered to affluent customers.
Watson is a cloud-based technology that can process enormous amounts of information with the ability to understand and learn from each interaction at unprecedented speed, representing a significant shift in the ability for organizations to quickly analyze, understand and respond to vast amounts of Big Data.
DBS’ implementation of IBM’s cloud-based Watson Engagement Advisor solution – targeted for rollout in the second half of the year – comes as the bank continues to execute on strategy to be a leading regional wealth player. DBS will look to progressively deploy these capabilities to its other businesses over time.
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