IBM announced Friday its acquisition of fraud software and consulting company IRIS Analytics. Big Blue plans to integrate the company’s machine-learning technology into its IBM Counter Fraud Management suite that aims to identify and stop fraud in real time.
Last year was a big year for machine learning at IBM and across the industry, and there’s little likelihood that will slow down in the New Year. The company has put a focus on artificial intelligence and cognitive computing, especially with Watson, to more efficiently plumb the plethora of data that enterprises are bombarded with daily.
The technology from IRIS will provide an analytics engine that banks and other financial services companies can use to actively search for and establish new models that pinpoint fraud, according to IBM’s press release.