Danske Bank cognitive technology will predict IT issues before they can cause havoc to the bank.
By launching a cognitive programme together with IBM, the technology can quickly resolve a potential IT threat. However, the bank noted that although AI beats the breakdowns, it’s the human brain that makes AI work.
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Danske Bank focuses on cognitive technologies to be able to be one step ahead of potential IT issues. In the UK, several banks such as TSB have been plagued by IT meltdowns.
IBM’s Predictive Insights applies AI technology for Danske Bank.
Embracing cognitive technology
Ona Juodkiene, co-head of IT Operations noted that setting up cognitive technology does take time. Furthermore, the quality of the output from the data is very dependent on the data put in:
“It takes time and talented IT professionals to tailor and adjust and integrate these systems into the organisation’s IT environment. But when you invest in this, it makes it possible to create a culture across the organisation.
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By GlobalData“Already now, we see that some employees, who might have been a little sceptical initially, have had what we call an AI moment, where they really see the value for both the customers and themselves in their daily work.”
It is employees however that watch over the system in an ongoing iterative process. As IT breakdowns continue to affect banks globally, integrating cognitive technology puts Danske Bank at a significant advantage.
Continuing, Juodkiene stated:
“It is important for us to adopt this technology relatively early in time, because it allows us to be a first mover when it comes to achieving cognitive technology expertise in the organisation. We could also chose to say that we would wait a little bit until artificial intelligence expertise is more widely available and for the technology to mature.
“This might be less time consuming in relation to a specific task, but it would entail a huge risk that we as a company might not be able to catch up with the early adopters.”
