In New York there is a ten-week-long queue to see simulations by Watson, IBM’s cognitive artificial-intelligence platform.
Initially known for stunts such as beating human contestants on “Jeopardy!”, a quiz show, Watson has been seeking a wider audience. It has found a vast potential one in the world of financial regulation.
Rules have become so sprawling and mysterious that even regulators have begun asking for a map. In response, a market is springing up: for “regtech”, fintech’s nerdy new offspring.
On September 29th, IBM announced the purchase of Promontory, a 600-strong consultancy whose senior staff include former officials from the Federal Reserve, the World Bank, the Securities and Exchange Commission and other regulators.
Read more: It knows their methods | The Economist