IBM Watson is a question answering computer system designed by IBM to understand natural language questions and provide precise answers. It relies on cognitive computing rather than traditional rule-based logic. Watson was named after IBM's first CEO. The document then discusses that Watson competed successfully on the game show Jeopardy in 2011, analyzing vast amounts of data to understand questions and generate evidence-based responses. It also outlines Watson's hardware, software, achievements and potential future applications in fields like healthcare.