Book Image

IBM Watson Projects

By : James D. Miller
Book Image

IBM Watson Projects

By: James D. Miller

Overview of this book

IBM Watson provides fast, intelligent insight in ways that the human brain simply can't match. Through eight varied projects, this book will help you explore the computing and analytical capabilities of IBM Watson. The book begins by refreshing your knowledge of IBM Watson's basic data preparation capabilities, such as adding and exploring data to prepare it for being applied to models. The projects covered in this book can be developed for different industries, including banking, healthcare, media, and security. These projects will enable you to develop an AI mindset and guide you in developing smart data-driven projects, including automating supply chains, analyzing sentiment in social media datasets, and developing personalized recommendations. By the end of this book, you'll have learned how to develop solutions for process automation, and you'll be able to make better data-driven decisions to deliver an excellent customer experience.
Table of Contents (12 chapters)

Banking use cases

As we have already mentioned, anomaly detection enjoys a wide range of use cases. However, in this chapter, we have chosen to focus on those relating to the banking industry, and specifically, fraud detection.

Banking-related fraud schemes are typically categorized into areas that include corruption, cash, billing, check tampering, skimming, larceny, and financial statement deception.

Corruption

A Simple example of corruption detection in banks would be identifying transactions that include customers who appear on the US Treasury Department Office of Foreign Asset Control (OFAC) list, or those organizations on the list of uncooperative countries and territories.

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