Besides the recent trend of Blockchain, another major current theme is cognitive systems. The intersection of these two areas requires understanding the nature and structure of data that support both.
Blockchain, as distributed ledgers, will end up at some point in structured data. This is because to create positions, we have to get data into common data languages in order to create balances. So the end of blockchain at scale for today’s financial transactions data will end up being structured data.
Cognitive systems are attacking unstructured data. In the financial space, this includes contracts, procedures, regulations and even customer descriptive information. The next generation financial systems will combine these two data types in new ways to increase the insight available in either independently.
This week’s episode, number 99, of Conversation with Kip, the best financial system vlog there is, discusses the Next Generation Financial Platform, comprised of Quantitative, Qualitative, Cognitive and User Experience segment.