Australian regulators, bruised by the royal commission, are turning to artificial intelligence to boost compliance across the finance industry. One recent pilot involves deploying software to scrutinize financial planning documentation to ensure they do not contain problematic advice or breach rules.
| less than a minute read
Australian regulators cautiously embrace AI to boost compliance
Get in touch
.jpg)
Get in touch
“It could be the words used by sales agents or the way particular sentences are constructed that are problematic,” said John Price, Asic’s commissioner. “This is not about automating the entire supervision process, rather it’s about risk targeting — identifying areas of concern that can then be handed on to experienced investigators for further examination.”
Get in touch
Get in touch
