Risk analytics is gaining importance, even in industries other than financial services and insurance.

“Wherever there is a regulation, there is going to be a need for risk management,” Mina Wallace, VP of Risk Analytics for IBM told theCUBE during IBM Vision. “And there is regulation across most industries.”

Building solutions that enable technology to help

That said, financial services faces especially stringent regulation. “What financial services is being asked to do by the regulators now is to protect clients from some catastrophic failure,” said Wallace. “Regulators have swooped in and made demands upon organizations, which is driving us to build solutions that enable technology to help.”

Where risk management is used to focus on physical events, in today’s climate, it aims to find blind spots. “That’s why I’m excited about what Watson Analytics can do,” said Neil Dodgson, IBM’s WW Head, Client Solutions Group-Risk Analytics, who also joined theCUBE. “In 2008 we experienced a smoking, dormant volcano. But there were lots of indicators leading up to what was happening in the financial markets. You would hope that Watson could pick up on conditions would lead to that financial crisis and potentially help us avoid it.”

Watch the full interview below, and be sure to check out more of SiliconANGLE and theCUBE’s coverage of IBM Vision 2015.