(Bloomberg) -- International Business Machines Corp. wants to use artificial-intelligence technology to automate parts of the finance industry’s regulatory-compliance effort.

With its acquisition of Promontory Financial Group, announced Thursday, IBM gains the banking industry’s most prominent regulatory consultant. The Armonk, New York-based technology giant said it would use Promontory’s 600 employees, many of whom are former government regulators, to bolster its artificial-intelligence program, known as Watson.

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