Regulatory compliance problems? Promontory, my dear Watson

Never mind cancer research or climate change: IBM is finally bringing its Watson AI technology to bear on one of the real challenges still facing human civilisation – regulatory compliance. Big Blue has announced plans to snarf up Promontory Financial Group, a risk management and regulatory compliance consultancy, and combine the firm's expertise with Watson's cognitive capabilities in order to address the growing burden of regulation and risk management requirements. Promontory has about 600 workers in 19 offices across North America, Europe, Asia Pacific and the Middle East, and these are set to form the stout-hearted core of a new Watson Financial Services portfolio within IBM's Industry Platforms business. If all goes well, the transaction is expected to close before the end of 2016, but financial details of the deal have not been disclosed. According to IBM, more than 20,000 new regulatory requirements were created last year alone, and the complete catalogue of regulations is projected to exceed 300 million pages by 2020.