The focus on false positive reduction as the primary metric for AI effectiveness reflects the industry’s ongoing struggle with alert fatigue and resource allocation. This emphasis suggests that institutions are looking to AI not just for improved detection, but also for operational efficiency gains in their compliance processes.
Adopting GenAI in financial crime compliance has been slow among Asia Pacific financial institutions. Yet, the need for AI in compliance is more urgent than ever. Recent high profile financial crime cases have revealed weaknesses in traditional systems, underscoring how AI could have better identified and mitigated risks.
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