The Promise and Peril of Cognitive Compliance Tools

Compliance officers say they are increasingly looking at AI-powered tools to help with things like surveillance, reporting and fraud monitoring.

Whether for surveillance, certain forms of regulatory reporting, anti-money-laundering (AML) or know-your-customer (KYC) compliance, artificial intelligence—including, to a growing extent, machine learning and cognitive tools—have proven beneficial.

While speaking at this year’s North American Financial Information Summit held in New York in May, compliance officers from Bank of China and Guggenheim Partners noted that there’s a lot of interest in cognitive tools, but that it’s important for

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