Adam Famularo’s Post

I recently spoke with Sarah Aryanpur Burgess from diginomica to discuss how our AI Digital Workers evolved and how this technology is now becoming an integral part of AML compliance teams for banking and financial services companies. We also talked about how our Work.AI platform is powering AI Digital Workers in other industries, and what's ahead for WorkFusion. Fantastic discussion. You can read the full article here: https://lnkd.in/eW7_mYuw

Late last month, the CFTC’s Office of Customer Education and Outreach issued a customer advisory warning the public about Artificial Intelligence (#ai ) scams. The advisory covers scams using the potential of AI technology to defraud investors with false claims that entice them to hand over their money or other assets to fraudsters who misappropriate the funds and deceive investors. The growth of AI enables scammers to claim that it can generate huge returns using bots, trade signal algorithms, crypto-asset arbitrage algorithms, and other AI-assisted technology. Scammers leverage social media platforms and “influencers” to spread false information. The advisory warns investors that claims of high or guaranteed returns are red flags of fraud and that strangers promoting these claims online should be ignored. Investors can use the guidance to identify and avoid scams, including a reminder that AI technology cannot predict the future. The advisory also lists four essential items investors may consider, including researching the background of a company or trader before trusting their money to trading bots or trade-signal providers. #ai #scams #scamprevention #cftc Read the advisory: https://lnkd.in/exZrBA_4

It’s no secret that constant regulatory updates and the ongoing threat of financial crime burden compliance teams. But what can be improved? Ensuring proper onboarding and client lifecycle management (CLM) protocols and solutions are in place can significantly ease this burden. AI is poised to make a substantial difference in both areas. Check out our recent report to learn about: • The cost of regulation without the assistance of AI • Why efficiency is becoming harder to achieve in onboarding and AML processes • How AI can alleviate regulatory pressure while maintaining compliance https://okt.to/Z98k6z #AI #CLM #AML #Regtech #FinCrime #Fenergo Image: Report. Using AI to supercharge Client Lifecycle Management. Download Now button. Women working on tablet.

Hummingbird just brought (exponential!) time savings to customer due diligence teams with its newest compliance-grade AI feature: AI file summarization 🚀

Infusing GenAI into #WorkFusion's established Digital Workers will impact key measures of value in compliance and KYC: Accuracy (nearly 100%), automation rates and explainability - allowing organizations to de-risk and scale up without adding manual work. #regtech #ai #AML #GenAI https://lnkd.in/g5fNRiw6

Last week, The Washington Post introduced “Ask The Post AI,” a general-purpose chatbot that pulls information from the Post's archives dating back to 2016. This new tool aims to answer readers’ queries on topics ranging from politics to privacy to how to cook the perfect steak. It's a new way to interact with the Post's content, grounded in the credibility of the paper's reporting. Still, you have to ask: why invest in a dedicated, in-house chatbot when tools like ChatGPT and Perplexity can access site content and offer similar summaries? As I see it, the answer is trust. When users interact with Ask The Post AI, they engage directly with a platform curated by The Washington Post. This loyalty-focused tool isn’t just about providing information—it’s about reinforcing the reader’s connection to the publication. By controlling the knowledge source and interaction, the Post can ensure the chatbot aligns with its editorial standards. Ask The Post AI is also a test case in “knowledge management” for media, balancing comprehensive answers with data guardrails. For example, it limits its responses to recent coverage, avoiding the risk of outdated or contradictory information. And unlike other third-party platforms, the Post’s chatbot opts for conservative responses, linking directly to articles rather than speculating beyond the facts available. The question now is: Will chat become standard on media sites? I'm not sure of the answer, but I do think that Ask The Post AI needs a few more basic features before we can fairly judge the experience. Right now it doesn't even suggest follow-up questions. More in today's newsletter 👇

A hugely exciting part of Hummingbird’s CDD solution is our newest feature: 🎉 AI file summarization! 🎉 Reviewing customer documents is one of the most time-intensive aspects of compliance work. But with AI file summarization, you simply upload the file, click a button, and voilà! – you’ve got an instant, accurate summary. ✅ Our team purpose-built this tool for compliance work, meaning summaries are packed with highly-relevant data points and free of extraneous detail. It's a big part of why teams using Hummingbird for CDD are able to focus on assessing risk and making decisions – not wading through a sea of documentation. To get the full story behind this exciting new feature, check out our newest Hummingbird Labs post! https://bit.ly/4dP660g

Ensure your business data stays secure while using ChatGPT. Learn best practices to navigate data-sharing risks and protect sensitive information effectively. Stay informed and safeguard your business. #DataSecurity #ChatGPT https://lnkd.in/gSpRBqYx

“How Voice Cloning Will Disrupt Customer Verification” I wrote this article for The Financial Brand knowing ChatGPT’s Advanced Voice mode was in a testing mode, and both dropped on the same day. It really is great timing for Seth Ollila and myself to provide real world insights on this threat to customer verification, while sharing a solution. The concern is simple, AI can now easily replicate a human voice and interaction. We’re there, and it will only make customer verification more difficult. I’d encourage anyone who must think through customer verification to do a couple of things. 1) Read the article and listen to the cited examples to hear how amazing AI’s voice interactions are. They have emotion, fluid conversations, and near human like engagement. It’s wild, and an unsuspecting person can’t tell the difference between a human and AI. 2) You need to seriously start working on a plan for One Time Passcodes (OTP) with text and email, or other more secure customer verification methods. If you’re not sure where to start, talk to me friends Seth and Justin Seidl at Novotta. They built an on prem tool for community financials to support OTP. The demo I tried works great, AND you might be able to continue using passcodes or phrases. It’s definitely a well earned testimonial for them and I appreciate the contributions for the article. If you haven’t started taking steps to strengthen your customer verification, use this article as a kickstart.   Reach out with questions! #AI #VoiceFraud #BankingSecurity #ClientVerification #Novotta #Fintech #FraudPrevention https://lnkd.in/g94iFm6f

FF News | Fintech Finance discusses our latest report 📑on 𝙍𝙞𝙨𝙠 𝙈𝙖𝙣𝙖𝙜𝙚𝙢𝙚𝙣𝙩 𝘾𝙤𝙣𝙨𝙞𝙙𝙚𝙧𝙖𝙩𝙞𝙤𝙣𝙨 𝙛𝙤𝙧 𝙂𝙚𝙣𝙚𝙧𝙖𝙩𝙞𝙫𝙚 𝘼𝙄.  Read their article to discover the innovative ways financial institutions are utilising external GenAI tools to navigate risk. Interested in the full report? 🔎 Explore the report here: https://lnkd.in/e_Z8euS2 #ORX #Fintech #Fintechnews #AI #RiskManagement #Banking #GenAI https://lnkd.in/ej9Exagc