Artificial intelligence, machine learning, and deep learning are now being used in the compliance industry.
Machine Learning and Deep Learning are a growing and diverse fields of Artificial Intelligence (AI) which studies algorithms that are capable of automatically learning from data and making predictions based on data. Machine Learning and Deep Learning are two of the most exciting technological areas of AI today. Each week there are new advancements, new technologies, new applications, and new opportunities. It’s inspiring, but also overwhelming. That’s why I created this guide to help you keep pace with all these exciting developments.
Whether you’re currently employed in the compliance industry, or just pursuing an interest in the subject, or working with us at Produvia, there will always be something here to inspire you!
Here are five artificial intelligence ideas for the compliance industry:
- Intelligent Risk Assessment. Imagine a system that automatically classifies people based on three levels of risk — low risk, medium risk and high risk. This technology would perform automatic segmentation of one while performing identity checks for money laundering, terrorist activity, or Politically Exposed Persons (PEPs), criminal activity, and global sanctions.
- Intelligent AML Assistant. Imagine seeing highlights of regulatory changes to the Anti-Money Laundering (AML) laws and being recommended of the most appropriate action as the result of such changes.
- Tracing Regulatory Codes to Product Specific Requirements. Imagine creating traces from regulatory codes to contactual and product level requirements.
- Identity Fraud Prediction. Imagine a system able to predict fraudulent identity based on past reports of identity fraud from other identities.
- Intelligent Customer Segmentation. Imagine an AML solution that takes transactional and behavioural data (such as customer’s banking transactions) and generates archetypes of a customer.
If you have any questions about artificial intelligence or the future of compliance, feel free to message us at produvia.com
Five Artificial Intelligence (AI) Ideas for the Compliance Industry was originally published in Produvia Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.