Leveraging advanced data for AI-powered Anti-Money Laundering (AML)
The global financial landscape is witnessing a transformation as institutions increasingly embrace the power of artificial intelligence (AI) to combat money laundering and fraud. AI's technical capabilities present an array of benefits for Anti-Money Laundering (AML) processes, particularly in its proficiencies for data analysis and pattern recognition.
Though, as AI integration gains momentum, it also brings significant challenges that demand thoughtful consideration. Issues such as limited training data and over-reliance without human supervision can have serious implications for AML efforts.