Note from the CEO: Just say no to organic…..growth. IBM has decided to jump start its compliance offerings with an acquisition. Promontory Financial will now be a Watson protégé’. Seems like a great fit and certainly speeds up development.
“IBM is acquiring risk management and regulatory compliance consulting company Promontory Financial Group, and will be adapting the IBM Watson cognitive capabilities — the natural language processing and machine learning — to regulatory compliance.
In fact, IBM hopes to replicate for compliance the IBM Watson capabilities that have been applied to clinical medical data, research, and guidelines training. Essentially, the Watson system helps uncover insights from large amounts of unstructured data. This could prove useful when applied to ‘directly address the massive operational effort and manual cost of escalating regulation and risk management requirements,’ IBM officials say.
Promontory will accelerate IBM’s development and machine training of cognitive solutions for risk and compliance, officials say.”