Using AI technologies to drive your compliance programme forward

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Using AI technologies to drive your compliance programme forward

Key takeaways from CEO Scott Lane’s discussion at Consero's Corporate Compliance & Ethics virtual forum:

  • The compliance industry has been slow to adapt to new technologies but mindsets are changing
  • In the coming year AI technology will demonstrate limited memory, be able to respond to different conversations and machine learn to become able to give predictive responses
  • Digital assistants like Speeki’s ‘Nicole’ are already accurately performing many routine tasks in multiple languages, from interactive hotline conversations to soon being able to follow up on existing cases
  • Nicole will soon be able to perform post-conversation tasks including basic document word and financial reviews


On 7 December 2020, Consero and Speeki hosted a Corporate Compliance and Ethics Virtual Forum. Scott Lane, founder and CEO of Speeki, discussed using AI to support compliance teams. Mr Lane began by discussing what initially sparked his passion for applying new technologies in compliance. After developing technology in his first business venture, he was hooked on the value of expanding applications into more and more areas of compliance.

Mr Lane explained that the compliance industry has been slow to adapt to new technologies. Paper records have only just converted to digital, mobile apps are hardly being utilised, and there has been minimal compliance integration into other platforms. Users have unfounded fears about whether AI technology works, how expensive it is, whether it is difficult to build and implement, whether it can be updated and whether incorrect responses will be given. This all prevents AI adoption. The solution may be to manage concerns by adopting AI slowly and gradually, starting with simple risk management tools after ferreting out vulnerable areas.

In terms of increasing sophistication in AI technology, Mr Lane described emerging AI as reactive (without memory and responding only to stimuli), followed by demonstrating limited memory (using memory to improve responses), progressing to a theory of mind (understanding the needs of other intelligent entities) and finally ending with a self-aware state (demonstrating human-like intelligence and self-awareness). Mr Lane believes we are currently at the reactive–limited memory AI stage, where digital assistants are able to ask questions and record responses. In the year ahead, Mr Lane foresees progress deep into the limited memory AI stage, where interactions and conversations take place in order for machine learning to begin extrapolating where improvements should be made to procedures.

Applications that are being developed and will be made available for integration into compliance systems include onboarding new clients (KYC), annual or regular disclosures, surveys, approvals, database screening, training, monitoring, Q&A regarding company policies and other basic conversations.

Speeki’s digital assistant Nicole already performs, or will perform in the future, the following tasks:

  • interacting with employees and other stakeholders in any language, with complete knowledge of the company’s operations
  • handling routine compliance queries with respect to code of conduct or disclosure matters, for example
  • kicking off new requests for approvals or disclosures, from gifts to travel and entertainment matters
  • following up on existing conversations, whether incomplete training lessons or clarification of previous disclosures.
Nicole will also reliably perform the following tasks in Speeki Messaging:
  • interviewing employees and other stakeholders and having a dialogue about hotline issues, doing away with the need for call centres
  • converting speech into text accurately and immediately
  • speaking in multiple languages and performing simultaneous translations
  • performing simple triaging of issues to assist compliance teams.

After the hotline interactions, Nicole will be able to gather documents, search emails, perform keyword analyses, complete basic document reviews, review financial transactions identified in reports, and exhibit predictive abilities for future reports.

Nicole is truly becoming the digital compliance assistant for 2021 and beyond. 

About Speeki

Speeki® is a stakeholder engagement and compliance reporting platform built for transformative insights and to provide a confidential and anonymous solution for reporting illegal and unethical activities in the workplace.

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