by Andrew White | December 9, 2013 | Comments Off on Turning Noise into Signals…
Excellent article in the Wall Street Journal, US print edition, Friday December 6th 2013 called, “Banks scan trader talk for trouble”.
I thought this was a fascinating text analytics and text mining story regarding the use of technology to winnow out fraud and other potential wrong doing. A UK based software vendor I never heard of (not my primary research area) called Chase Information Technology Ltd, has software that can monitor phone calls, text and instant messages, as well as email and other streams, for key words that might herald secret communication. Some if the interesting phrases listed include: I want Chinese take-away, nuclear waste, on ice, take if off line, and end of the world. Also, the software is reportedly able to determine levels of stress in the tone of communications. For example, Britons are more likely to interrupt a colleague speaking when stressed. Other cultures, the example was Italy, do not do this as much. So you better be careful when repeating your lunch order! And to be fair, I know other vendors are in the same space here – including IBM and SAS. There may be others. But given I don’t cover this part of IT; I just thought it was interesting.
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