Corporate Compliance Insights – “Sure thing.” “Guaranteed return.” These are terms compliance departments already monitor for in employee communication, but it’s a tediously manual, reactionary process. Due to regulation changes and policy updates, regulated industries must take a proactive approach to adhering to the rules. While manually scanning emails for nefarious keywords is one way to head off potential compliance issues, that alone doesn’t account for the mass amounts of text and voice files that must be monitored, the time it takes to ensure each document is thoroughly reviewed and an issue is settled or the continued tracking of regulatory updates to ensure compliance of the most recent policies.
Expecting even the biggest compliance departments to be on top of changes and constantly reviewing material in real time is arduous and nearly impossible using only human capital. That is why compliance departments and businesses in regulated industries are turning to artificial intelligence (AI) to augment internal processes…
Read the Full Article by Michael McDonald in Corporate Compliance Insights
Michael McDonald is the general manager of Veritone Legal and has nearly 25 years of experience developing and implementing technology and software solutions for compliance, legal and related industries.