Utilizing Artificial Intelligence and Machine Learning for Investigations and Compliance: The Latest Best Practices and Innovation for Upgrading Your Approach

November 29, 2022 4:30pm

Andrew McBride
Chief Compliance Officer
Albemarle Corporation

Natalia Shehadeh
SVP & Chief Integrity Officer
ABB (Switzerland)

Praneeth Vepakomma
Researcher
Massachusetts Institute of Technology

Vincent Walden
Chief Executive Officer
Kona AI

AI and ML technology can improve the efficiency of compliance operations and reduce costs in today’s data-driven compliance environment, by autonomously categorizing compliance-related activities and alerting them to important updates, events and activities.

In this session we will discuss the advantages and best practices for leveraging AI and ML in your compliance program:

  • Conducting periodic reviews of your risk assessment program, based on continuous access to operational data and information over time and across functions
  • Leveraging Machine Learning by learning from past data and past transactions, and by reviewing false positives
  • What can be gleaned from anomaly detection
  • Feeding back learnings from algorithms and human learning that allow you to leverage AI and ML toward making them more predictive
  • Managing risk around your third-party organization over the “lifespan” of the relationship
  • Identifying emerging risk factors before they become a broader compliance concern—and assessing whether or not a review or an internal investigation is needed