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SymphonyAI Launches AI-Based SensaAI for Sanctions, Powering Risk Detection and Turbocharging Sanctions Screening in Asia Pacific

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SymphonyAI, a leading provider of predictive and generative enterprise AI SaaS solutions, today announced the availability of SensaAI for sanctions, a platform-agnostic “AI upgrade” for any sanctions solution in Asia Pacific (APAC) at Money20/20 Asia. It dramatically impacts sanctions evasion efforts by optimizing match accuracy with deep, context-aware AI-based matching algorithms.
SensaAI for sanctions, delivered via API, is pre-trained and ready to use out of the box. Using an organization’s existing data, SensaAI for sanctions works in parallel with rules-based systems using AI to power the match process from rationalizing unstructured data, including SWIFT transaction data. It then applies predictive matching models that enable investigators to accurately distinguish the legitimate risks from the resource-consuming false positives.
“SensaAI for sanctions arrives at a critical time for sanctions screening, offering a robust solution that aligns with the market’s shift towards more sophisticated, detection-agnostic tools,” observes Nick Vitchev, Research Director for Chartis Research. “Its current deployment simplicity reflects a keen understanding of the evolving needs in risk management. The potential of SensaAI for sanctions to adapt to specific regional requirements without overwhelming users with false positives is particularly promising.”
With no large investment required and no complicated integration, SensaAI for sanctions offers an array of features that revolutionize the sanctions screening process:

Advanced AI match assessment and explainability: Harnessing both generative and predictive AI, SensaAI for sanctions derives an AI score for match accuracy and a comprehensive natural language explanation for the reasoning behind the score.
Solution-agnostic integration: SensaAI for sanctions is designed to work with any existing case management system.
Pretrained and ready to deploy: Requiring no training data, SensaAI for sanctions models are pre-trained on datasets encompassing more than 25 years of sanctions evasion, detection, and screening expertise, enabling rapid implementation and ROI.
Automated alert optimization: The AI matching score generated by SensaAI for sanctions can be used to prioritize the highest-risk alerts and deprioritize low-risk alerts at Level 1, ensuring investigators are always assessing the greatest risk first.

Risk and compliance officers can harness market-leading AI capabilities, including continual learning built to evolve accurate matching as quickly as bad actors evolve evasion tactics. SensaAI demonstrates quantifiable low-cost gains by supporting more efficient investigation, transparent explainability, and seamless integration with existing solutions, providing immediate adoptability and intuitive insights for users from the front-line investigator to the boardroom.
“Regulators in Asia are demanding financial institutions to effectively detect and manage sanctions related risks. SensaAI for sanctions revolutionizes the battle against increasingly sophisticated sanctions evaders, giving financial institutions immediate, powerful AI that is easy to adopt and use. SensaAI for sanctions is lightyears ahead of existing solutions, delivering contextual awareness, accuracy, and ROI,” said Gerard O’Reilly, Managing Director, APAC of SymphonyAI’s financial services division. “At SymphonyAI, we continue to invest boldly in delivering the power of our combined generative and predictive AI. We are excited to revolutionize sanctions screening efficiency and accuracy for financial institutions worldwide to outwit even the most resourceful bad actors.”
SymphonyAI was recently recognized by industry researcher Chartis for gen AI innovation and financial crime and compliance capabilities. The Chartis GenAI Initiatives Award recognized the strength of the SymphonyAI Sensa Investigation Hub and Sensa Copilot, which combine industry-leading predictive and generative AI with deep financial crime detection domain expertise.
The company will demonstrate SensaAI for Sanctions, along with the rest of the financial services product portfolio including Sensa Investigation Hub and Sensa Copilot, this week at Money20/20 Asia from 23rd – 25th April 2024. Financial crime and compliance expert at SymphonyAI, Charmian Simmons will be delivering an unfiltered stage keynote – ‘Building sustainable compliance platforms in the age of artificial intelligence’ on Wednesday 24th April at 12:10 pm.
The post SymphonyAI Launches AI-Based SensaAI for Sanctions, Powering Risk Detection and Turbocharging Sanctions Screening in Asia Pacific appeared first on HIPTHER Alerts.

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Unveiling the Complex Psychological Implications of Artificial Intelligence

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In today’s world, the realm of artificial intelligence (AI) presents us with fascinating possibilities and unsettling dilemmas. From engaging in nuanced conversations with humanoid robots to grappling with the consequences of deepfake technology, the advancements in AI have far-reaching implications that extend into the realm of human psychology, as noted by Joel Pearson, a cognitive neuroscientist at the University of New South Wales.
While AI holds the promise of simplifying our lives, Pearson emphasizes that these developments can also have profound effects on our mental well-being, challenging our perceptions and emotional responses in ways we may not fully comprehend. Despite our fears of killer robots and rogue self-driving cars, Pearson suggests that the psychological impacts of AI are equally if not more significant, albeit less tangible.
One area of concern highlighted by Pearson is the tendency for humans to anthropomorphize AI entities, attributing human-like qualities to non-human agents such as chatbots. This phenomenon can lead to emotional attachments and vulnerabilities, as evidenced by individuals who develop romantic feelings for AI companions like Replika. Pearson underscores the need for further research into the implications of these human-AI relationships, particularly regarding their impact on interpersonal dynamics and emotional health.
Furthermore, Pearson raises alarm about the proliferation of deepfake technology, which has the potential to distort our perception of reality and erode trust in media. Deepfake images and videos, often used for nefarious purposes like non-consensual pornography, can leave lasting impressions on our psyche, even after their falsity is exposed. Pearson warns of the long-term effects of exposure to such content, particularly on vulnerable populations like teenagers whose developing brains may be more susceptible to manipulation.
In response to these challenges, Pearson calls for a nuanced understanding of AI’s psychological impact and advocates for a proactive approach to addressing its potential harms. He stresses the importance of prioritizing human connection and well-being in the face of technological uncertainty, urging individuals to reflect on their values and embrace activities that foster genuine human interaction.
Ultimately, Pearson’s message serves as a reminder that while AI offers immense potential, we must remain vigilant about its unintended consequences and prioritize our mental and emotional resilience in navigating an increasingly AI-driven world. By acknowledging the psychological implications of AI and engaging in thoughtful dialogue, we can work towards harnessing its benefits while mitigating its risks.
Source: abc.net.au

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US official calls on China and Russia to affirm human, not AI, control over nuclear weapons

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Senior U.S. Official Urges China and Russia to Affirm Human Control Over Nuclear Weapons
In a recent online briefing, Paul Dean, an arms control official from the State Department, called on China and Russia to align their declarations with those of the United States and other nations. He stressed the importance of ensuring that only humans, not artificial intelligence, are responsible for decisions regarding the deployment of nuclear weapons.
Dean highlighted Washington’s firm commitment to maintaining human control over nuclear weapons, a commitment echoed by France and Britain. He expressed the hope that China and Russia would issue similar statements, emphasizing the significance of this norm of responsible behavior, especially within the context of the five permanent members of the United Nations Security Council.
These remarks coincide with efforts by the administration of U.S. President Joe Biden to engage in separate discussions with China on nuclear weapons policy and the development of artificial intelligence.
While the Chinese defense ministry has yet to respond to these comments, discussions on artificial intelligence emerged during recent talks between U.S. Secretary of State Antony Blinken and China’s Foreign Minister Wang Yi in Beijing. Both parties agreed to hold their first bilateral talks on artificial intelligence in the coming weeks, aiming to address concerns about the technology’s risks and safety.
Although U.S. and Chinese officials resumed nuclear weapons discussions in January as part of efforts to normalize military communications, formal arms control negotiations are not expected in the near future. Meanwhile, China, amid its expansion of nuclear capabilities, previously suggested that the largest nuclear powers should prioritize negotiating a no-first-use treaty between each other.
Source: reuters.com

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Enterprise AI Faces Looming Energy Crisis

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The widespread adoption of artificial intelligence (AI) has been remarkable, but it has come at a significant cost.
R K Anand, co-founder and chief product officer at Recogni, highlighted the exponential growth in data and compute power required to train modern AI systems. He emphasized that firms must invest substantial resources, both in terms of time and money, to train some of today’s largest foundational models.
Moreover, the expenditure doesn’t end once the models are trained. Meta, for instance, anticipates spending between $35 billion and $40 billion on AI and metaverse development this fiscal year. This substantial investment underscores the ongoing financial commitment necessary for AI development.
Given these challenges, Anand stressed the importance of developing next-generation AI inference solutions that prioritize performance and power efficiency while minimizing total ownership costs. He emphasized that inference is where the scale and demand of AI will be realized, making efficient technology essential from both a power cost and total cost of operations perspective.
AI inference, which follows AI training, is crucial for real-world applications of AI. Anand explained that while training builds the model, inference involves the AI system producing predictions or conclusions based on existing knowledge.
However, inference also represents a significant ongoing cost in terms of power and computing. To mitigate these expenses, Anand suggested methods such as weight pruning and precision reduction through quantization to design more efficient models.
Since a large portion of an AI model’s lifespan is spent in inference mode, optimizing inference efficiency becomes crucial for lowering the overall cost of AI operations.
Anand highlighted the importance of efficient inference for enterprises, noting that it enables higher productivity and returns on investment. However, he cautioned that without favorable unit economics, the AI industry could face challenges, especially considering the increasing volume of data.
Ultimately, Anand emphasized the need for AI solutions that increase productivity without significantly increasing operating costs. He predicted a shift towards allocating a larger portion of computing resources to inference as AI becomes more integrated into day-to-day work.
Source: pymnts.com

 
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