Epiq, a global, technology-enabled legal services company, has launched a compliance product designed to help corporate legal departments identify risks in real time using artificial intelligence (AI).
The product, known as Regulatory Risk Insights, utilizes both artificial intelligence and expertise in legal matters to identify potential legal liabilities from corporate communications. With assistance from AI, the software filters out false positives, drawing attention to potentially harmful communications within 60 seconds of possible misconduct taking place, according to statements from Epiq.
Regulatory Risk Insights connects directly to data sources like Microsoft email and Team, providing real-time notifications of communications scanning. Over time, as the AI model continues learning and verifying the positives and negatives, the accuracy of the software improves.
The real-time data provided by this product allows corporate legal departments to address potential risk scenarios proactively and, in some situations, apply for leniency. According to Erin Toomey, vice president and managing director of Epiq’s Global Investigations Practice Group, “Risk management is of paramount importance to our clients..”, Toomey also noted the tool meets the Department of Justice’s requirement for a robust, supported, and data-driven compliance solution.
In an interesting move, Epiq is inviting companies to test Regulatory Risk Insights via its Early Adopter Program. In exchange for a fixed fee, participants can use a 30-day trial offering real-time analysis of Microsoft 365 emails for up to five U.S.-based employees, and they will receive a Regulatory Risk Insights Findings Report.
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