Machine intelligence software firm CognitiveScale has announced that it has secured investment from a USAA affiliate, taking its total investment to over $50 million.
As part of the new investment, USAA will also implement the CognitiveScale augmented intelligence products for delivering contextual customer engagement and improving advisor productivity. By using CognitiveScale, USAA will be able to provide its more than 12 million members predictive, data-driven banking and insurance services while learning continuously from user interactions and data.
The firm’s AI products learn from multi-structured data and from user behaviours and market events. They emulate human cognitive abilities in software to augment human decision making and build trust by providing users with the right advice, at the right time, with the right evidence across any contact point.
Akshay Sabhikhi, CognitiveScale’s CEO, said: “We are delighted to have USAA as a customer and a strategic investor. We share their commitment to delivering clients with an experience unlike any other currently available in the insurance and banking industry.”
Nathan McKinley, vice president and head of corporate development for USAA, added: “USAA has a long history of using emerging technologies to develop innovative ways to serve our members. Our work with CognitiveScale allows us to support such innovation through our investment while also leveraging the AI products they have today to find ways to better serve our members.”
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