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Why AI is vital for surveillance officers

Artificial Intelligence (AI) has been the focal point in discussions around innovation for many years, to the point where it is easy to be complacent when listening to how it will transform a sector. However, firms cannot afford to skip out on the latest advancements within AI as its rapid innovation is transforming the way we operate.

Jordan Domash – the co-founder and CEO of AI assistant developer Responsiv – recently spoke about the critical role AI has for surveillance officers. He believes this technology will be vital in how they can reduce false positives and detect risk.

The reason AI is set for a pivotal role is due to a number of challenges the industry faces, most notably, the sheer volume of communications that compliance teams have to monitor. Communication platforms have exploded over the past decade, with services like Zoom, Teams, WhatsApp, Slack and RingCentral being just a small handful of the services available to people. Communications platforms are not tied to one format, with many allowing for video, audio and text chat. Compliance teams need an efficient way to monitor all the relevant platforms.

Not only are there a wave of new platforms and communication modalities that compliance teams need to monitor, Domash noted that user behaviour is also changing. This change is bringing a new layer of risk that needs to be managed.

He said, “Behaviours are constantly evolving. We’re not just looking for one behaviour, we’re looking for 50, and those behaviours, those risks, change. We’re focused on sharing inside information more today than we really ever had before. As these behaviours are evolving, you need a system that can adapt in real-time to risks that are seen in the market.”

To help visualise the size of the challenge posed to surveillance teams, Domash highlighted that Responsiv has over 140 billion records under management. A decade ago, this number was just four billion, representing a 25-times growth in the volume of communications under management.

He added, “If you had a team of reviewers that were reviewing 100 communications an hour and they were reviewing them 24/7 and you had a year, you would need over 160,000 people to read through all these communications. It is just physically impossible to spend the time to review these communications.”

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