What will be the role of Artificial Intelligence (AI) in compliance going forward? In the legal services world, LawTech stands for the ongoing revolution of the legal profession and legal processes move into the 21st century, just as FinTech portended changes in the financial services industries. Using these two disparate, yet related developments as a guide, I see ComTech lurking just down the road.
A clear example where ComTech comes into play is large-document review. There are many companies that provide keyword searches, and these same concepts translate readily into the compliance world through massive database searches for keywords, such as an ongoing e-mail review through e-mail sweeps. The concept is straightforward; at regular intervals, you sweep through your company e-mail database for identified keywords that can be flagged for further investigation, if required. Such a sweep is not limited to anti-corruption compliance, but any of the risk factors identified for your company.
