IBM's AI-Based Watson Technology Analyzes Consumer Trends And Provides Futuristic Data

While working with major brands like Vodafone, ICICI Bank, and many others, IBM Watson Technology provides futuristic data with regards to customer demands.

With data championing technological innovation, analytics and AI has proven to be a competitive advantage for businesses across functions. IBM took the very opportunity in discussing their latest products like the IBM Watson Technology. 

Ginni Rometty, Chairman, President and Chief Executive Officer, IBM spoke about how clients are now at the beginning of Chapter Two of their transformations, which will be characterized by enterprise-driven innovation. This includes scaling digital and AI and embedding those technologies into all aspects of an enterprise. It includes driving core systems and applications to hybrid clouds. And it includes new efforts to improve trust and transparency and to prepare society by building the skills that will ensure that the many, not just a few, can participate in tech's next era. 

Rometty further added, “The first chapter has been defined largely by experimenting with narrow and disparate AI applications and moving simple workloads—typically consumer and customer-facing applications—to the cloud. Now, we are beginning to see the contours of Chapter Two among pioneering businesses: moving from experimentation to true business transformation at scale with AI and hybrid cloud. This next chapter of digital reinvention will be enterprise-driven. Underpinning it all is the growing importance of trust, both in technologies and in their impact on the world.” 

"Clothing is not just a brand people buy but it's the lifestyle that goes along with what you wear. India is a continent more than a country and for us, the challenge is to crackdown the diversity of fashion trends that keep varying every kilometer. We visited the IBM labs in Bengaluru where they showcased the potential of Watson technology. We initially used it for employee engagement and now aim to implement the technology further in fashion decision making in order to understand futuristic trends with the help of artificial intelligence," said Vineet Gautam, CEO, Bestseller India while giving the customer inputs on IBM's offerings. 

“Vodafone is trying to plug into the new ecosystem on the blockchain. Mobile has been innovative & transformative and with IBM we can provide futuristic services to our customers in the telecom industry. Today I see the role of CIOs and CTOs changing in a big way. Earlier, technology and business were two separate concerns but today technology is business. This compliments the digital transformation witnessed in India. We have to act like business leaders today instead of fulfilling demands. With IBM’s deep involvement in our projects, we see a bright future ahead for Vodafone," said Vishant Vora, CTO, Vodafone India Ltd. 

Madhivanan Balakrishnan, CTO & Digital Officer, ICICI Bank discusses the industry landscape and challenges that the banking sector is overcoming due to the inculcation of technology. 

"To convince Young talents to join a bank itself requires talent. We at ICICI have great managers of the technology. We are developing applications ourselves while encouraging to build and create. Digital transformation is constant and technologies like AI, Data Analysis and AI can create data value for business leaders allowing them to move far ahead of their competition during this renaissance. My advise is to keep the architecture open and be modular with it which will allow us to reach out to New emerging economies with futuristic offerings," said Balakrishnan. 

"With context to trends like Artificial Intelligence, 88% of enterprises view AI as a strategic opportunity. This is a potential reason to why it could add $15.7 Trillion to the global economy by 2030. Today, most businesses rely on data and IBM offers 85% of the world to unlock all that information. To stay ahead of the curve it is imperative to embed AI in core applications. Our offerings in the space help reimagine the workflow by infusing, analyzing, organizing and collecting data working in consensus with the trend," said Arvind Krishna, Senior VP, Cloud and Cognitive Software, IBM. 

The event took place at the St. Regis, Mumbai on the 13th of March, 2019.

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