Finally, Behavioral Segmentation for Wealth Management

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21 September 2016
Kelley Byrnes

Yesterday’s IBM Forum for Financial Services showed Watson’s capabilities for wealth management, insurance and banking. The forum coincided with the 2.0 release for Watson’s application in financial services.

The demo session emphasized Watson’s behavioral segmentation capabilities. The psychographic measures delivered by IBM Customer Insight are impressive. For example, measures include but are not limited to: openness, liberalism, cautiousness and sympathy. Knowing all too well that a client’s personality can make them candidates for different products than what a client’s paper profile would suggest, it is easy to see how in the wealth management space, advisors could use these measures to build deeper human connections with their clients.

I was also impressed by the fact that Watson shows financial advisors the reasoning behind the machine learning results. Gaining insights into how Watson arrives at its recommendations empowers advisors to validate the results or add human refinement based on inputs not available to Watson. In this way Watson can complement the financial advisor.

It seems that there is even more that IBM is working on that is not in this latest release, so I’m looking forward to what more there is to come.

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