Traders might start to sense that someone is constantly watching over their shoulders. AI is being applied to the world of regulation, or "RegTech," and a new system can monitor the trading behavior of fund managers and even alert compliance bodies if questionable activity is detected. The UK chancellor George Osborne coined the term in the last budget claiming that the new policy would support "new technologies to facilitate the delivery of regulatory requirements" to the financial services sector, according to the Financial Times. Companies such as Sybenetix are working with cloud computing, AI and biometrics to develop tools that will serve the financial services industry and help them to meet the mounting regulations enforced since the 2008 banking crisis. The Institute of International Finance (IIF) considers that less complex RegTech solutions would make it easier for new companies to enter the market, and that market is a growing one.