Technology tycoon IBM has created a lot of buzzes as it is making new partnerships with businesses who seek to accomplish widespread technology. In the same context, IBM’s new partnership with Hyundai Card Commercial announced at the annual conference where IBM hosts for technology and business, called IBM Think 2019. As reports noted that the purpose of the collaboration is to advance the utilization of Artificial Intelligence and Blockchain technology in Hyundai Card, in which the main focus is on enhancing the customer experience and improving their financial services across the world.
With this partnership, Hyundai Card becomes an innovator in the space of utilizing AI-powered Chatbot that was previously not available for customer services in the financial industry of Korea. The Chatbot service, named Hyundai Card Buddy, is capable of responding to different queries with great speed that customers frequently ask. The AI-enabled system is programmed to learn through the interactions it has, utilizing the Machine Learning technology that IBM Watson offers. It is capable of understanding the meaning of queries, interpreting the concealed meanings of the interactions, and give responses to these queries. In their statement, Hyundai Commercial stated that the company offers leasing and financial services for commercial vehicles and construction equipment, partnering with IBM to deploy Blockchain and modernize its business model.
These technologies reduce the lead times and costs for financial transactions with the deployment of Hyperledger Fabric. The commercial financing network designed to provide a full view of the transactions currently happening, along with the securing of transaction data and automation of manual processes.