Driving compliance through AI-driven report generation
Deloitte’s ‘Intelligent Report Writer’ revolutionizes the compliance reporting landscape.
The Need
The creation of compliance documents and reports can be complex, costly, and time-consuming process. Coupled with the need to remain updated with everchanging regulatory environments, this might appear to be a daunting task. There is a distinct scope for a GenAI (Generative AI) powered regulatory intelligence tool that can ease these challenges: a tool that can generate high-quality reports and stay ahead of ever-evolving regulatory changes. Such a tool can provide significant cost savings, enhanced productivity, and improved organizational agility. It can also be a game-changer for any organization that navigates through complex legal standards on a regular basis.
Our Solution: Intelligent Report Writer
To effectively deal with such challenges, Deloitte has come forward with a new GenAI-powered tool called ‘Intelligent Report Writer’. A game-changing solution specifically designed for efficient creation of compliance reports, the tool has a seamless workflow that simplifies and accelerates the typically laborious process of report generation. At the heart of ‘Intelligent Report Writer' is a GenAI-based search and writing assistant within a userfriendly web editor, thus diminishing the reliance on manual research and scattered IT resources. The smart search functionality swiftly retrieves relevant information, crucial for producing credible and consistent reports.
To further improve efficiency, ‘Intelligent Report Writer’ features a state-of-the-art LLM (Large Language Model) based multilingual chatbot that streamlines the information gathering process, enabling your teams to expedite report generation and decision making. The tool also grapples with a major concern in today's digital age i.e. data security. By processing all data within AWS Cloud VPC infrastructure, it ensures that your sensitive information is utilized within a protected cloud environment and never exposed to potential threats. It is the ultimate solution for compliant, efficient, and secure report generation.
Advantages/Benefits
- Facilitates efficient creation of compliance documents such as AQR audit reports, sanction letters, and dunning letters, thereby enhancing your organizational agility and effectiveness.
- Leverages GenAI and Machine Learning functionalities to produce consistent and credible reports, improve efficiency, and significantly reduce the time spent on each report.
- Provides users with the right legal references and appropriate wording, ensuring coherence and accuracy across documents.
- Allows your team to focus on making informed decisions by significantly reducing the burden of manual dataprocessing.
- Helps significantly reduce the costs incurred by compliance departments.
- Provides the right information at your fingertips without manually sifting through multiple sources through its smart search and chat functionality.
Example Use Cases
- Ensures fast, efficient, and precise generation of draft sanction letters based on the legal documents reference set, thereby ensuring that the clients meet tight timelines without compromising legal accuracy.
- Eases the generation of AML Suspicious Activity Reports (SAR) with comprehensive legal references and automates the identification of relevant regulations within the legal bases, enabling you to produce comprehensive SARs efficiently and reducing potential human error.
- Removes this bottleneck by allowing simultaneous report generation by multiple teams, streamlining workflow, and saving precious time for Asset Quality Review (AQR) reports.
- Connects the ever-growing complex network of EU regulations, directives, amendments, guidelines, etc.
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