Descartes releases AI tool to cut screening false hits

Executive Summary

• Descartes Systems Group has released "Descartes Visual Compliance AI Assist," a new AI-enabled feature for its Visual Compliance platform designed to reduce false positives in denied party screening.
• The solution utilizes artificial intelligence to automatically filter low-risk screening results, aiming to reduce the time and effort trade compliance teams spend on reviewing benign matches while maintaining regulatory compliance.
• Key capabilities include advanced AI-driven compliance support, configurable risk levels, and built-in audit and reporting features to support due diligence.

Key Details

• Product Name: Descartes Visual Compliance AI Assist.
• Core Function: Uses AI capabilities to help trade compliance teams automatically reduce the effort required to review and clear false positives (alerts that appear to match restricted entities but are benign).
• Performance Claims: For some customers, the combination of automation and human oversight has helped reduce false positives to "just fractions of a percent," even with large screening volumes.
• Key Capabilities:
  • Advanced AI-driven compliance support: Automatically identifies and filters low-risk screening results based on statistical analysis and machine learning algorithms to streamline risk assessment.
  • Configurable risk levels: Adjustable AI settings allow organizations to tailor responsiveness to specific regulatory requirements, geographical needs, or internal adjudication practices.
  • Built-in audit and reporting: Provides consolidated, accessible screening results with centralized, audit-ready reports and a comprehensive audit trail to demonstrate due diligence.
• Target Audience: Companies in diverse industries including aerospace, financial services, retail, manufacturing, education, transportation, and defense.
• Platform Context: Descartes Visual Compliance is a cloud-based solution for export, financial, and trade compliance, including restricted and denied party screening, with content from the US, EU, Asia-Pacific, and EMEA regions.

Notable Quotes

• Brian Hodgson, General Manager, Trade Compliance: "While it makes sense to cast a wide net with screening, false positives are a costly drag on time, accuracy and compliance performance... With AI Assist, for some customers, the combination of automation in collaboration with human oversight has helped reduce false positives to just fractions of a percent... This is a significant gain in productivity for compliance resources who can be overburdened with irrelevant alerts."
• Ken Wood, Executive Vice-President, Product Management: "To help businesses with this persistent challenge, our AI innovations accelerate the review and adjudication of screening results with intelligent filtering, flexible control and human-centred quality assurance, which enhances compliance levels while reducing labour effort."