AML AI FACING RFEGULATORY APPROVAL PROBLEMS. BUT IF THESE ARE OVERCOME, THE TECHNOLOGY COULD BECOME WIDESPREAD
January 1st, 2020
Artificial Intelligence (AI) and machine learning are being touted as game-changing solutions to improve the detection of financial crimes, including AML/CFT, but despite some promising results there are obstacles to roll-out, not least regulators’ ability to green-light new technologies as well as effectively utilise the data they produce.
Major financial institutions are investing in AI machine learning and big data analytics to improve the detection of financial crime and reduce the costs of complying with AML legislation, which costs financial institutions ...
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