IDC PlanScape: Implementing Cognitive Systems in Banking

IDC PlanScape: Implementing Cognitive Systems in Banking

This IDC study helps organizations build the business case and a road map for implementing cognitive systems. The world of cognitive is difficult to pin down to one area, and the provision of cognitive capability is still evolving and mutating, from on-premise implementations to cognitive as a service. Nearly two-thirds of U.S. banks that IDC has surveyed indicate that they have already implemented or are in the process of evaluating cognitive systems for use in the enterprise. Clearly, the future of banking technology will include the use of some form of cognitive capabilities in a variety of areas.Thus it is important to set a cognitive strategy early to identify the areas of the bank that would benefit from this technology and how the different aspects of cognitive systems can be leveraged to address specific challenges faced by the global banking industry."The banking industry has come to a time when a complete core system replacement is no longer a tenable initiative for all but the smallest institutions," said Jerry Silva, research director for IDC Financial Insights' Global Banking research. "Core abstraction is a path toward modernizing the core system by migrating business processes to a more modern layer while keeping the high-availability aspects of most core systems intact."

Please Note: Extended description available upon request.

IDC PlanScape Figure
Executive Summary
Why Is Implementing Cognitive Systems in Banking Important?
What Are Cognitive Systems in Banking?
Who Are the Key Stakeholders?
How Can My Organization Take Advantage of Implementing Cognitive Systems in Banking?
Essential Guidance
Related Research

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