Legal and Compliance
Case Studies
BA-HR reduces legal document review time by a third using a machine learning platform
BA-HR uses Luminance platform to automate clause identification and extraction, as well as recognising clauses written in Norwegian, reducing legal document review by a third.
Linked use case: Automate review of contracts such as NDAs
Baker McKenzie plans to automate part of due diligence via machine learning contract review platform
Baker McKenzie is implementing the machine learning-powered platform eBrevia to streamline M&A activities by identifying the important parts of contracts.
Linked use case: Automate review of contracts such as NDAs
Bank of the West announced implementation of Pindrop''s machine learning fraud detection software in its call centres
Bank of the West has turned to Pindrop to improve security and fraud detection for its call centre customer service by analysing customer voices and other call data during the phone call to determine caller authenticity.
Linked use case: Detect potentially fraudulent or nefarious users
Bonanza Creek Energy avoids production shutdown and fines by anticipating when certain emissions are going to occur using a machine learning system
Bonanza Creek Energy has implemented a system that anticipates increasing risk of volatile organic compounds and emissions being released by monitoring real-time data from each of its production locations.
Linked use case: Predict and support mitigation of unplanned downtime
Chinese facial recognition technology mistakes businesswoman''s face on bus ad for someone actually jaywalking
The city of Ningbo, China used facial recognition to identify people crossing the road illegally, referred to as ''jaywalkers''. The system is installed at six intersections in the city and has captured more than 7,800 incidents. However, the system showed its limitations as it got confused by the face of the famous Chinese businesswoman, Dong Mingzhu in an advertisement on the side of a bus. Authorities have admitted that the technology failed and have since update the system to prevent such errors.
Linked use case: Identify persons of interest to law enforcement through facial recognition
Citi reduced cost, time and reliability issues in the delivery of the complex stress test models needed for regulatory compliance through deploying ML to support the process
Citi reduced cost, time and reliability issues in its delivery of the complex stress test models needed for regulatory compliance. Citi tackled the stress testing using model acceleration and improvement technology from Ayasdi.
Linked use case: Determine treasury or currency risk situation
Commerzbank attempts to cut research costs by automating analyst reports generation
Commerzbank responds to pressure from Mifid II, which forces banks to cut research costs, by using machine learning and natural language processing tools from Retresco to automatically generate analyst reports on stocks and bonds.
Linked use case: Automate generation of reports including basic research material
Commerzbank plans to automate 80% of pre-compliance checks for trade finance transactions using machine learning
Commerzbank will leverage machine learning technology from Conpend to automate around 80% of its pre-compliance and compliance checks of its trade finance processes by 2020. The vendor uses Optical Character Recognition (OCR) for extracting data from physical documents and identifying deviations. The bank is starting the programme with a pilot intended to focus on anti-money laundering processes.
Linked use case: Automate collection of banking data from non-standard documentation
DXC Technology has increased new business wins by 20% by automating with a contract management platform
DXC Technology is using ContractRoom''s contract lifecycle management platform to automate contract due diligence by analysing contracts to extract relevant information. This has resulted in a competitive advantage by allowing DXC to conduct due diligence and then sign new contracts for transactions quickly.
Linked use case: Automate review of contracts such as NDAs
Danske Bank plans to determine liquidity risk using Bloomberg''s machine learning product LQA
Danske Bank announced it would use Bloomberg''s machine learning LQA product to assist in determining its liquidity risk as part of regulatory compliance efforts.
Linked use case: Track risk exposures to ensure capital requirements monitored
Dell reduces costs while ensuring contractual obligations are met with contract analysis automation
Dell uses Axiom to extract clause details and other metadata from legacy systems of 35,000 sell-side contracts. This automation allows for quicker employee research into contractual obligations to inform senior management decision-making.
Linked use case: Automate contract due diligence
Deloitte saves between 20-90% time in reviewing complex documents such as contracts using machine learning
Deloitte implements Kira systems'' machine learning contract analysis software to review thousands of documents to extract and structure textual information for better analysis. Kira''s Quick Study software reviews contracts, rectifies human errors and produces comprehensive summaries saving hours of manual effort per document.
Linked use case: Automate review of contracts such as NDAs
Earthport Payment Network reduces false positives of automated suspicious transaction detection using AML risk data in real-time
Earthport implemented ComplyAdvantage''s Transaction Monitoring platform to analyse data in real time to identify and report suspicious payment behaviour which may be linked to money laundering or terrorism-financing. Minimising false positives for this behaviour reduces the amount of human intervention needed making the process more efficient.
Linked use case: Detect potentially fraudulent or nefarious users
Elevate Services reduced contract review time by 55.5% using Kira automated document classification and data extraction
Elevate Services used Kira software to identify document types, identify base contracts in documents, identify foreign languages, and extract specified information (titles, parties, dates etc.) to reduce workload by 5,000 hours and overall review time by 55.5%
Linked use case: Automate legal research through search and referencing of documentation
Facebook and Instragram are automating detection of images related to drug dealing posted on the social media platforms
Facebook and Instagram are implementing image classification methods to automatically detect and remove references related to drug dealing. Theoretically, this automation frees up time for content moderators, allowing them to focus on other elements which may be indicative of drug dealing, such as hashtags.
Linked use case: Automate flagging and/or removal of user generated and uploaded media content
Facebook identifies and removes 8.7m child abuse images from its platform within a few months with machine learning
Facebook has revealed it leverages machine learning technology to remove extremist and illicit content. The programs are able to go through billions of pieces of content to categorise and flag anything inappropriate. This has helped moderators remove 8.7m child abuse images from its platform between August and October 2018.
Linked use case: Censor user generated content on social media and other platforms
Freshfields Bruckhaus Deringer identifies discrepancies in rent contract documents and collections during real estate investment due dilligence using automated contract analysis
Freshfields uses the LEVERTON platform to go through real estate documents to identify important clauses and information, expediting the due diligence process. During their work for clients Conren Land AG they identified missing documents and discrepancies between contracts and rent registries.
Linked use case: Automate contract due diligence
GMI Insurance Services monitors employee activity to identify malicious activity and other sources of productivity decline using machine learning
GMI Insurance Services is using Veriato''s machine learning powered platform to monitor employee activity on desktops, emails, chats etc and understand patterns of malicious or inappropriate activities. GMI has been able to improve employee productivity by identifying employee behavioural patterns using the solution.
Linked use case: Map communications across the organisation to improve team productivity
Goldman Sachs has automated half of the 127 process steps in their IPO business process.
Goldman Sachs'' project has found ways to eliminate thousands of hours of work long performed by humans. A computer-based interface called Deal Link has replaced informal checklists that were once tended and passed down between generations of rainmakers. It now arranges and tracks legal and compliance reviews, fills in forms and generates reports.
Linked use case: Automation of documentation steps for IPOs
Google Brain researchers develops a method to avoid machine learning model discrimination against legally protected attributes
Google Brain researchers propose a way in the post-processing of machine learning methods which determine threshold levels to control for potential discrimination on the groups assigned to those threshold levels. They demonstrate application of the technique using FICO credit scores.
Linked use case: Search for and challenge inbuilt bias in algorithms
Google YouTube identifies 98% of the videos it removes for promoting extremism using machine learning
YouTube is using machine learning to automatically detect content that violates its terms of service. YouTube''s goal is to minimise how many views violating videos get before they''re removed, which automated flagging can help with. The algorithm has identified 98% of the videos which have been removed, and more than 50% of them have been taken down before receiving 10 views.
Linked use case: Highlight likely issues like copyright infringement or audience age suitability in media content
Google YouTube recommendation system uses human raters to train AI resulting in potential inappropriate content promotion
YouTube uses human raters to rate its user generated videos based on in order to provide a training data set for its recommendation system algorithms. However, the ambiguous guidelines for doing so may result in potentially harmful material being promoted.
Linked use case: Personalise media content recommendations
HSBC to implement Quantexa''s AI software to aid with compliance in identifying illegal and fraudulent customer profiles
HSBC is "planning to integrate the AI software of Quantexa, a UK-based start-up, to screen the vast amounts of data it holds on customers and their transactions against publicly available data, in the search for suspicious activity. "
Linked use case: Detect potentially fraudulent or nefarious users
HSBC uses artificial intelligence to help spot money laundering, fraud and terrorist funding in its network
HSBC has received significant regulatory fines for money laundering and other nefarious activity in its networks. It is using advance machine learning to better understand and link the flow of money between people and corporations.
Linked use case: Identify and manage money laundering risks
Holvi reduces time spent investigating false positives for customer risk using AI platform ComplyAdvantage
Holvi implemented the ComplyAdvantage platform to ensure it complied with EU anti-money laundering regulation and could continuously monitor the AML risk profiles of its clients as well as transactions, automating the detection of potential risks.
Linked use case: Detect potentially fraudulent or nefarious users