SteelEye says it’s encouraged by its recent test of ChatGPT’s applicability to market surveillance, suggesting that the AI tool can support decision-making, empower compliance teams to analyse data with greater speed, and enable them to identify potential risks more effectively.
SteelEye made its assessment based on a case study it conducted that involved integration of ChatGPT into its holistic compliance platform. The company found the results to be promising and said they show that ChatGPT can be highly beneficial for surveillance investigations when implemented correctly and used with care.
As part of the case study, the Large Language Model was implemented in SteelEye’s UAT environment. The functionality enables the analysis of specific communications records – such as voice calls, chats, meetings, and emails – against a number of key questions.
The test yielded a number of insights into the targeted communications records. It generated a summary of the records, including a content summary, motives, intentions, and regulatory or compliance issues identified. It analysed the records to identify entities included in the conversation, sentiment, tone, and tonal shifts. And it suggested next steps in terms of what actions a compliance officer should take and proposed correspondence.
SteelEye reckons this capability can be used as a starting point for initiating a surveillance investigation and to standardize workflow processes to boost the throughput and consistency of cases. It is also useful when analyzing communications in foreign languages, as the system returns the above insights in English regardless of the languages being used.
According to Chief Product Officer and Co-Founder, Matt Storey, “This functionality can be extremely helpful to a compliance professional. For example, let’s take a long voice call or chat conversation that has triggered a surveillance alert. With the ChatGPT integration, a content and motive summary is returned in seconds, along with a timestamp for any shifts in tone. The system also flags any potential regulatory or compliance issues arising from the conversation. This can help a surveillance analyst more easily understand what has been said and quickly take action against serious compliance violations.”
Says Storey: “The entities included and next step fields are also useful as they highlight the people and companies a surveillance analyst could investigate next. For example, if MNPI about a publicly listed company was mentioned, the analyst could check if anyone traded in that stock, which can be done in a few clicks using SteelEye’s integrated trade and communications surveillance solution.”
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