The first part of the tool checks for completeness of the file, currently in testing, includes advanced data extraction from documents such as fact finds or suitability reports and aims to give users unbiased, clear evaluation of the status of their files. A second stage, scheduled for release later year, will be able to grade files as suitable or unsuitable and offer written opinions on the advice provided.
The tool is currently in closed beta testing, with interested users asked to contact the firm to register their interest.
Kirsty Turner, CEO of IFAC Ltd, Compliance Specialists, commented:
“The BAT AI File Checker is potentially a game changer. We check thousands of files each year and spend countless hours checking incomplete files. This tool not only enhances accuracy and eliminates bias, but will save time spent by skilled team members.”
Robert Jones, head of business development at BAT, says:
“The AI File Checker is a revolutionary tool poised to redefine industry standards. As we unveil the beta version, we're committed to integrating user feedback to elevate and fine-tune the tool in line with their needs. This presents a unique opportunity for users to actively contribute to something that will shape compliance processes and file interpretation across the industry, setting new benchmarks for accuracy and efficiency.”
