Business Understanding
Government-Risk-Compliance (GRC) is where business and regulations meet head-on. Tackling GRC challenges isn’t easy because laws change a lot, and those who deal with GRC aren’t usually legal experts. They need guidance. To set up rules and controls for their organizations, they have to keep up with rule changes and obligations. As the need for Legal Language Models (LLMs) grows, there’s a strong demand for a platform based on LLMs to help organizations stay updated with regulations and obligations.
Addressing GRC challenges presents significant difficulties due to the frequent changes in laws and regulations, compounded by the fact that individuals managing GRC matters often lack formal legal expertise.
AI Solution
- The AI Solution comprises two LLMs-based models. These models are employed to ensure accuracy and efficiency.
- The first model: By consistently monitoring reliable sources, we identify new updates and media releases. Using the power of LLMs, we compare these fresh documents with their earlier versions stored in the database. This ongoing scanning process guarantees that our database remains current and relevant.
- The second model: To facilitate user interaction, we introduce a user-friendly chat platform. Here, users can inquire about regulations, obligations, media releases, and update summaries directly from our comprehensive database. To ensure legal compliance, we’ve meticulously engineered prompts that guide the responses of the LLMs models. This meticulous approach ensures that the information provided adheres to lawful formats, further enhancing the reliability of the AI solution.
Government Risk Compliance Platform
Sample of LLM Model to Capture Changes in Regulations
Expected Outcome
The integration of the LLMs-based model for GRC control yields remarkable business outcomes. By harnessing the power of AI technology, organizations can stay ahead of the dynamic regulatory landscape with unparalleled accuracy and efficiency. The consistent monitoring of reliable sources and real-time comparison of documents enable swift adaptation to new updates and media releases, ensuring regulatory compliance. The user-friendly chat platform empowers users to access vital information promptly, streamlining decision-making processes. Furthermore, the meticulously engineered prompts governing LLMs responses guarantee legally compliant interactions, enhancing the credibility and reliability of the organization’s GRC efforts. Ultimately, the application of AI technology in GRC control translates to heightened agility, informed decision-making, and a fortified foundation for sustained business growth.