IBM is carving its own path in the world of technology. The technology giant has shown an increasing interest in finance over the past few months. One of their newest ventures relies on a powerful partnership to fight human trafficking. A worthwhile venture, and one that can highlight the potential of IBM’s Watson.

Fighting human trafficking will not be an easy feat. Following the money flows is one way of going about this business. IBM is working together with Western Union, Barclays, and Lloyds Banking Group in this regard. All entities will rely on IBM’s Watson to tap into financial data and track any transactions related to human trafficking.

Another Notch in the Belt for IBM

Even though this problematic industry has raised a lot of awareness, few efforts have been undertaken to make a meaningful impact. Manual tracking and countering the issue through legislation have been very cumbersome and yielded very few results. Despite these efforts, modern slavery is still a very real problem in this day and age.

Barclays’ Paul Horlick adds:

“This initiative is a huge step forward in bringing together information from across multiple sectors, including NGOs, law enforcement partners and financial services, where we can take a truly intelligence-led approach to proactively tackling human trafficking.”

By using Watson’s Natural Language Understanding, these companies can search terms for human trafficking incidents. Analysts can then visually analyze the enriched data and combine it with additional data sources. This will allow for a comprehensive overview of what is going on around the world. From that point forward, letting the right authorities take the necessary action becomes of the utmost importance.

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About Author

JP Buntinx is a 30-year old FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he is working to achieve the same level of respect in the FinTech sector.

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