AI-powered software developer Squirro deploys new GDPR tools

Augmented intelligence application developer Squirro has developed a new GDPR compliance solution.

This new service leverages computing power to identify any GDPR requests and gather the structured and unstructured data from across the business, regardless of where it is stored.

The General Data Protection Regulation was implemented May 2018, and failures to meet compliance can lead to a fine of ?20m or 4 per cent of annual turnover.

The new tool was developed jointly with cybersecurity experts from Switzerland-based software and security developer AdNovum.

Squirro CTO Toni Birrer said, ?GDPR is a welcome update to the laws that surround consumer data privacy in the internet age, but it is also legislation that could prove a major challenge for many organizations.

?Consumer data is stored in almost countless silos all over a business CRM systems, file servers, ERP, employee email and much more so assessing this data for GDPR compliance is a significant undertaking. The Squirro GDPR application addresses this by using Augmented Intelligence, saving thousands of man hours by searching for and finding any data that needs to be GDPR compliant, wherever it is stored.p>

Squirro is an AI-driven data and analytics software developer which helps the banking and finance, insurance and manufacturing industries. Its machine learning technology can help players in these markets to boost the insights derived from their structured and unstructured data.

Insurers can utilise Squirro to boost underwriting processes, save time on lead generation and improve understanding of customer needs.

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.