Rise of the machines: how artificial intelligence could revolutionize compliance

The concept of “thinking” machines and artificial intelligence is a familiar science fiction trope, one populated by nihilistic computers and robots with a Pinocchio complex. Computers may not be so fantastically self-aware yet, but artificial intelligence is nevertheless poised to revolutionize compliance. Already, firms are offering software platforms that promise to automate otherwise routine tasks and improve upon fraud detection audits, anti-money laundering protocols, and know-your-customer screening. The pitch is as simple as the technology is complex: let machines scan through a company’s data to do the grunt work of simple investigations, better utilizing the skills and expertise of human personnel. Advanced automation isn’t without concerns and pitfalls. Do cutting-edge technologies fit with legacy systems and existing automation? What of that utmost “legacy” concern: employees? How can, for example, compliance…


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