8December 2023OPINIONIN MYBy Celia Pizzi, Chief Compliance Officer, Grupo Travelex ConfidenceI began my career in the financial market working as a system developer and project manager. I worked in these roles for many years when I decided to start transitioning to roles in risk management. When making this career shift, I had in mind how the use of technology for mass data analysis, as well as the support of artificial intelligence, would be essential for delivering high-quality results, aiming at risk mitigation and prevention.Recently, we pioneered the use of artificial intelligence (AI) in monitoring financial transactions and customer screening for anti-money laundering (AML) purposes in Brazil. I can affirm that this has resulted in a significant leap in terms of accuracy between alerts and communications. Currently, we have fewer cases to analyze and more cases to report due to the mapped and compared scenarios.Of course, the use of these tools comes with both benefits and risks, as in any process. The challenge lies in weighing what brings the most added value.Some immediate benefits include:a) Efficiency Gain: By automating manual and repetitive tasks, we can Celia PizziTHE USE OF ARTIFICIAL INTELLIGENCE TO SUPPORT DECISION-MAKING IN THE RISK AREAS
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