IBM's super computer Watson is set to be deployed by US financial services firm Citigroup to help it conduct risk-assessment profiles in real-time and analyse customer needs.
The partnership is the first IBM has secured for Watson in the financial sector, after securing a deal in the healthcare sector last year with insurance company Wellpoint.
Citigroup said it would be creating a "first-of-a-kind customer interaction solution" using Watson's big data analytic capabilities and natural language processing technology.
It added that Watson's ability to analyse the meaning and context of human language, and quickly process vast amounts of information to suggest options targeted at an individual's circumstances could accelerate and assist decision makers in identifying opportunities, evaluating risks and exploring alternative actions for clients.
"We are working to rethink and redesign the various ways in which our customers and clients interact with money," said Citgroup chief administrative officer, Don Callahan.
Meanwhile, IBM software solutions senior vice president, Mike Rhodin, said the deal was just the beginning of IBM using Watson to help organisations process large and diverse data sets.
"The collaboration between IBM and Citi will explore how applying Watson in the consumer financial market could help empower financial professionals to make better business decisions," said Rhodin.
Watson is powered by 2,880 processing cores, 90 IBM P750 servers, has 16TB of memory and 80 teraflops of computing power.
The system hit the headlines in 2011 when IBM used its capabilities to play the game show Jeopardy and beat former champions to 'win' a $1m jackpot for IBM.
At the start of the year IBM revealed its plans to target Watson at three particular industries, of finance, telecoms and healthcare.
Last week IBM announced the formation of a new Watson Healthcare Advisory Board to provide the business with insights on healthcare issues that could be positively impacted by Watson technology.
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