Mizuho, IBM develop AI system for banking error detection

Mizuho and IBM have collaborated to develop a proof of concept (PoC) system that utilizes watsonx, IBM’s enterprise generative AI and data platform, to enhance the efficiency and accuracy of Mizuho’s event detection operations.

During a three-month trial, the new solution demonstrated a 98% accuracy in monitoring and responding to error messages, says IBM. The companies plan to continue expanding and validating the system in the future.

Banking systems require accurate and early recovery when disruptions occur. However, when an error is detected, operators often face a flood of messages and reports, making it challenging to identify the root cause of the event and prolonging the recovery time. To tackle this issue, the companies conducted a PoC aimed at improving the efficiency of error detection using watsonx, says IBM.

The PoC involved adding patterns likely to cause errors in incident response to generative AI and linking an application supporting a series of operations in event detection with watsonx.

Mizuho and IBM intend to expand the event detection and response PoC and apply it to production environments within the next year. The companies also plan to work on incident management and advanced failure analysis using generative AI.

[Image courtesy: Mizuho]

Just in

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.

Snowflake to acquire TruEra AI observability platform

Snowflake has entered into a definitive agreement to acquire TruEra, providers of an AI observability platform. Financial terms of the transaction were not disclosed.