IBM is also developing anti-money-laundering tools and services to aid banking compliance

IBM’s Watson technology is being used to catch rogue traders at large financial organisations, according to the company’s senior vice president of industry platforms Bridget van Kralingen.

Watson Financial Services is currently being piloted with a few of IBM’s financial clients in the form of a surveillance tool that aims to catch mischievous traders by looking for patterns in chats, emails and analysing numerical trading data.

IBM is hoping the tool will help it gain a slice of the potentially lucrative financial services industry by helping banks identify possible cases of insider trading or market manipulation.

“I think about it like a detective that can do problem solving, rather than just a search.

And that is the difference that many risk and compliance officers are desperate for,” said Van Kralingen, adding that Watson is more adept at identifying patterns than other technologies in the market.

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