IBM’s Watson is Becoming a Crime Fighter

Sherlock Holmes and WatsonIn Sir Arthur Conan Doyle’s Sherlock Holmes stories, Dr. Watson was the great detective’s trusted sidekick in fighting crime. Now, with IBM’s help, Watson has become a crime-fighting detective in his (actually its) own right.

IBM’s newest cognitive computing offering is Financial Crimes Insight with Watson, which is designed to help banks spot financial crimes such as money laundering. The mission of this latest incarnation of Watson, the brainchild of the company’s newly formed Watson Financial Services division, is to “[help] organizations efficiently manage financial investigation efforts through streamlined research and analysis of unstructured and structured data.”

This new suite of Watson products is aimed at helping financial institutions manage their regulatory and fiduciary obligations. It’s estimated that by 2020 the world-wide financial services industry will be faced with more 300 million pages of regulations, with the list growing by thousands of additional pages every day. That is, of course, far too much information for any team of human beings to stay on top of. But Watson, with its advanced artificial intelligence, cognitive computing and machine learning capabilities, was designed for exactly that kind of big data analytics.

The system was trained, using 60,000 US regulatory citations, by experts from Promontory Financial Group, a regulatory compliance consulting firm that IBM bought in 2016. The training also incorporates an ongoing review of transactions and cases that involve possible financial crimes. As Gene Ludwig, founder and CEO of Promontory Financial Group explains, “we’re embedding our deep regulatory experience into Watson so that a broader group of professionals can benefit from this knowledge and help their organizations operate more effectively and efficiently.”

These new Watson products are not narrowly focused just on crime, however. The broader aim is to help clients in the financial services industry address a wide range of risk assessment and regulatory compliance responsibilities. For example, in addition to the Financial Crimes Insight with Watson product, IBM is also offering Watson Regulatory Compliance, which focuses on assisting financial institutions in understanding and addressing constantly changing regulatory requirements.

Attend Watson and IBM i at the 2017 Fall Conference and Expo.

IBM Watson Taking the Fight to Cancer

CancerIBM Watson is taking the fight to cancer as more hospitals and medical research firms around the world use the resource in their ongoing war to treat the dreaded disease.

The Jeopardy champion has been consistently improving when it comes to designing treatment plans for cancer victims, Engadget reported.

New data presented to the American Society of Clinical Oncology showed suggested treatment plans from Watson were often exactly what physicians would recommend.

Recent research from India showed Watson’s suggested treatments for colon cancer matched physicians recommendations 81 percent of the time, 93 percent of the time for rectal cancer, and 96 percent of the time for lung cancer.

A study from Thailand showed comparable rates of agreements for lung, breast, colorectal and gastric cancer treatments.

Healthcare researchers are increasingly using Watson for Oncology, a cognitive computing system trained by doctors from Memorial Sloan Kettering. The system takes a patient’s medical history, extracts information from the records, and is able to design a personalized treatment plan.

Watson for Oncology just made its debut in Australia, with Queensland-based Icon Group signing up with IBM and helping oncologists across the country, the Australian Business Review reported.

Icon Group will implement an “augmented intelligence platform” to help clinicians stay on top of ever increasing amounts of cancer research.

“Traditionally they rely on a series of conferences and journals and have to soak up every bit of the new research, but Watson gives them easier access to this information,” said Cathie Reid, one of Icon’s co-founders.

The Georgia Cancer Center is also making use of IBM Watson to quickly assess genetic markers in tumors, according to the Augusta Chronicle.

With so many taking advantage of IBM Watson as a powerful resource, the system continues to prove itself as a desired ally in the fight against cancer.

IBM Watson For Oncology Going Live in a U.S. Community Hospital

In a first for the U.S., IBM’s Watson For Oncology (WFO) is essentially joining the clinical staff at an American community hospital. After being trained at the Memorial Sloan Kettering Cancer Center, and being tested in hospitals in several parts of the world, Watson will assist doctors at the 327-bed Jupiter Medical Center of Jupiter, Florida, in developing personalized treatment plans for cancer patients.

Why Watson?

What Watson brings to the table is its ability to quickly sift through reams of data from medical journals, textbooks, and clinical trials in order to provide doctors with rankings of the most appropriate treatment options for a particular patient. Identifying the proper treatment regime for cancer patients has always been difficult. Now, with rapid advancements in cancer research and clinical practice, the amount of data available to doctors is far outstripping their ability to keep up with current best practices.

WFO can lift much of what is essentially an information processing task off the shoulders of physicians. By combining information from the medical literature with the patient’s own records and physicians’ notes, Watson can provide a ranked list of personalized treatment options. And if patient records don’t provide all the information it needs for its analysis, Watson will even prompt the physician for more data.

Humans Still Required

Of course WFO is not intended to in any way replace or supersede human physicians. Dr. Abraham Schwarzberg, chief of oncology at Jupiter, thinks of Watson as providing a “second opinion” in the examination room. Doctors can access Watson’s recommendations on a tablet device while the examination of the patient is in progress. “We want a tool that interacts with physicians on the front end as they are prospectively going into making decisions,” says Dr. Schwarzberg.

Results

HospitalIn a study of 638 breast cancer cases conducted at a hospital in Bengaluru, India, WFO’s treatment recommendations achieved an overall 90 percent rate of agreement with those of a human tumor board. Still, IBM acknowledges that it’s too early to claim that Watson will actually improve outcomes for cancer patients. But with the vastly improved ability to personalize treatment options for individual patients that Watson provides, there’s every reason for optimism. As Nancy Fabozzi, a health analyst at Frost & Sullivan puts it, “Watson for Oncology is fundamentally reshaping how oncologists derive insights that enable the best possible decision making and highest quality patient care.”

IBM’s Watson Gets Busy This Tax Season

IBM’s Watson is probably best known as the computer that beat Jeopardy’s smartest contestants. Now, you can sit next to Watson and watch it work in person as it uses its awesome computing powers to help prepare your tax returns.

H&R Block has teamed up with IBM to bring Watson’s cognitive computing powers to the tax preparation field. Watson will help 70,000 tax professionals at 10,000 H&R Block offices across the country find tax breaks and increase refunds for customers.

Watson and Artificial Intelligence

Watson remembers everything. Watson uses artificial intelligence methods such as natural language processing to sort through and classify extensive amounts of information. It is able to detect even the slightest patterns in data that mere mortals might miss.

The same technology that helps doctors diagnose cancer and rare diseases was also used to digest 74,000 pages of the federal tax code, thousands of yearly tax law changes, and 60 years of tax preparation questions and answers in H&R Block’s data.

Tax professionals at H&R Block worked directly with Watson to teach it how to understand the complex world of tax preparation. In doing so, Watson proposed questions to tax pros about specific filing situations. The tax pros let Watson know when it was right and corrected it when it was wrong.

Over time, Watson honed its skills through the machine learning process. Its answers became better and more attuned to specific occupations and individual financial situations. It learned how to analyze situations that often affect tax filings, such as home purchases, the birth of a child, and marriage. And, Watson will continue to learn as it assists H&R Block’s customers in getting more money back with their tax returns.

Watson Is an Interactive Assistant

Watson isn’t replacing the human role in tax preparation. Rather, it is serving as an always-on, brilliant assistant. In a switch from ways of the past, you’ll be able to watch your taxes being prepared on a monitor in front of you as Watson works simultaneously with the tax preparer. The screen displays your tax filing information as Watson searches for credits and deductions available to you.

This may be many people’s first in-person introduction to Watson, but it will undoubtedly not be their last interaction with artificial intelligence as it continues to work its way into our everyday lives.

Watson - Block
On February 1, 2017, H&R Block CEO Bill Cobb (left) and IBM SVP David Kenny (right) announced that H&R Block’s tax professionals at approximately 10,000 branch offices across the U.S. will use a new, consumer-facing technology that incorporates IBM Watson - the largest deployment of Watson in retail locations. The new technology will help H&R Block tax professionals deliver the best outcome for each client's unique tax situation. (Photo by Guerin Blask) Source: http://newsroom.hrblock.com/media-library