Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens for the delivery of the clues of Xichang and Xiao Zhan-cut! CTOnews.com, June 27 / PRNewswire-Asianet /-- combined with generative AI, Google recently launched an anti-money laundering tool AML AI, which can be used to identify suspicious money laundering in the financial industry and generate analytical reports in line with industry norms.

Google said that the traditional regulation of financial institutions mainly depends on analysts, who need to manually analyze the data disclosed by companies, in which the fault tolerance rate and the individual behavior of analysts often have an impact on the results of the analysis.

Google said that during the first phase of the review, it would even find that more than 95 per cent of the "money laundering reports" were untrue, and that nearly 98 per cent of the initial reports would not eventually be blamed as "money laundering", so Google launched this anti-money laundering tool based on generative AI to improve the regulatory efficiency of financial institutions.

▲ Touyuan Google claims that AML AI tools integrate Google Cloud's ML tools, such as data analysis tool BigQuery and ML development platform Vertex AI. The tool can handle complex AI operations on a large scale, can also provide an interpretation of the specified output, and is expected to speed up the investigation of financial institutions.

CTOnews.com noted that Google also said that the AI tool had been tested by HSBC to improve the accuracy of risk warning within financial institutions by two to four times and reduce the false alarm rate by 60 per cent. At present, the AML AI tool is expected to enter the formal commercial stage after review, which will facilitate the internal risk management of financial institutions.

▲ diagram source Celent

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