I am on a five-part podcast series sponsored by Hanzo. In this series we consider how to leverage artificial intelligence (AI) in compliance investigations. In this series I am joined by several members of the Hanzo team as we explore the current best practices around investigations and how your compliance function can take investigations to a level of cost efficiency and operational proficiency.

Our explorations includes considering the current Department of Justice (DOJ) guidance on investigations, the use of AI in the Hanzo Investigator, how Hanzo technology can help a company overcome common investigative challenges and Hanzo’s specific approach to finding and managing data across the entire lifecycle of an investigation. In this Part 4 I am joined by Keith Laska, Chief Commercial Officer at Hanzo to consider how the use of AI in investigations improves the workflow and processes around solving complex problems that compliance professionals experience when work around data.

Having previously spoken with Sean Freidlin and Jim Murphy on the state of internal compliance investigations and how Hanzo technology works in addressing some of the challenges people in this industry experience, I asked Lasko to take a view from the macro level. I wanted to know what are some of the consistent themes that he has observed across differing problems? More importantly, how does Hanzo help these organizations overcome such challenges?

Laska related that it is one of the things “that I have a lot of time to think about in planes, trains, and automobiles.” He noted, “it comes down to this one prevailing challenge that has a ripple effect throughout an organization, as humans, we create and produce new data faster than we can process and understand it.”

He further explained, “right now, literally in any office across America, millions of new pieces of unstructured web data are being created with every keystroke by every employee. This is from their website traffic, to their social media activity to their chats and exchanges in team collaboration tools and via email. There is an essentially an endless river of data which is flowing with information.” The difficulty within corporate compliance and legal functions is managing and understanding data across its lifecycle, understanding the risks and in using the insights from the data. There are opportunities that exist within that data which have not been fully embraced and operationalized. He concluded, “progress is being made on solving these problems and addressing these challenges head on”.

We then turned to some of the specific challenges and opportunities that technology creates for compliance teams. When you talk about embracing and operationalizing data within the corporate compliance function Laska said, “I think it comes down to building technology that solves problems as they organically appear and evolve within an organization.” Moreover, using AI and machine learning as a part of the solution to processing and controlling that data with the scale and speed what is needed. He cautioned that it is not “a magic bullet that automatically fixes everything nor is all, but it’s not AI and tech created equally”.

Yet even the DOJ is elevating their expectations around how compliance teams use and leverage data. The recently released Evaluation of Corporate Compliance Programs (2019 Guidance) suggested that compliance teams should leverage the wealth of data they collect to identify any patterns of misconduct and compliance weakness, and also that they should be receiving funding and budget to improve mechanisms around the processes of conducting and reporting on investigations.

Join us in our final episode where we will conclude our five-part podcast series by continuing the conversation with Laska to consider the company’s specific approach to finding and managing data across the entire lifecycle of an investigation or enforcement action.

0 comments