Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than the award-winning Data Driven Compliance podcast, hosted by Tom Fox, which is a podcast featuring an in-depth conversation around the uses of data and data analytics in compliance programs. Data Driven Compliance is back with another exciting episode The intersection of law, compliance, and data is becoming increasingly important in the world of cross-border transactions and mergers and acquisitions.
Data has become much more ubiquitous and needs to be incorporated into business processes. AI data cleansing helps to reduce false positives and provides context to alerts generated by the system. AI capabilities are divided into three categories: removing duplicative content, detecting risk, and providing context. AI-powered data cleansing strips out non-human generated content and focuses on what was sent by an individual. This helps to lower false positives in alerts generated by the system.
The need for eCom surveillance is increasing as communication sources become more varied. Slack, Zoom, Teams, Bloomberg chat, and Ice chat are all becoming commonplace, and companies need to be able to capture data from these sources. Artificial intelligence and machine learning models are being deployed to empower a compliance officer to focus on what’s important and be risk-based. Companies that have been hesitant about the cloud are now moving their data to the cloud.
The amount of voice business that is happening over Zoom and teams and other voice channels has skyrocketed. Regulators have been very clear that you need to capture and record that voice data. Customers have asked for more and more data sources to capture, including audio. Compliance teams need systems to manage collaboration, case management tools, and review tools. Technology allows compliance teams to no longer use Excel or SharePoint to manage their own internal processes.
The combination of technology and compliance is transforming the industry. Artificial intelligence capabilities have come a long way in the past few years and are already good enough to provide a lot of value to customers. The innovation over the next few years will be on the defensibility front, proving defensibly why something was alerted on and why something else was not. Technology is available to capture every data source that’s out there, and it is essential for compliance teams to leverage this technology to remain compliant and competitive.
Key Highlights
· Ecom Surveillance
· Cybersecurity Data Management
· AI and Compliance
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