The first round of any compliance review is usually the worst. No one enjoys it. Marketing does not enjoy getting back a document that is more red lined than not and sometimes finding out about that long disclosure that really doesn’t fit. Compliance does not enjoy making the same, routine comments for the millionth time. But how do you avoid it? Artificial intelligence can help!
AI doesn’t solve all your problems since human problems are often quite complex. However, computers can help with some of the more basic tasks. Often the first round of compliance review is filled with things that computers can easily catch.
First, grammar, which is easy for computers. Then, there are more complex things like disclosures. Computers can help with those too. Natural language processing (NLP) can even go so far as to “understand” what is written to flag sentences that might be considered exaggerated, unwarranted, misleading, and/or promissory. Those sentences can be flagged showing the phrases that might be causing the issue. The AI can even go so far as to suggest more compliant replacements. As a result, content creators can proactively make changes as they are writing.
So, with the right AI, the first round to compliance can go in with many of the basic edits already noted and fixed. Compliance can then focus on the more interesting and complex issues that really require human experience and judgment. Think of it as a round reduction tool. Fewer rounds mean more time to focus on other important aspects of reviews.
Saifr worked with a group of 26 marketers within a large financial services firm and found a surprising result. By presenting a “cleaner” copy to compliance in the first round, the team observed that compliance felt more friend than foe. They found their relationship with compliance was less tense: and therefore, they were able to have more enjoyable, productive conversations from the beginning.
To learn more about how marketing and compliance teams at U.S. financial firms are using and thinking about AI, download our ebook, AI insights survey: Adopters, skeptics, and why it matters.
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