Prestigious international annual awards program recognizes outstanding AI and machine learning solutions and companies
Boston, June 26, 2024 India, July 23, 2020 /PRNewswire/ — Saifr, a compliance solutions provider that uses Artificial Intelligence (AI) to help companies mitigate regulatory risk, today announced that it has won the award for “Best AI-Based Solution for Financial Services” at the 7th annual AI Breakthrough Awards program conducted by AI Breakthrough, a leading market intelligence organization that recognizes top companies, technologies and products in the global AI market.
Saifr's rules-based machine learning (ML) and deep learning models help compliance and marketing teams develop and review more compliant content up to 10x faster while reducing brand and regulatory risk.
Saifr started at Fidelity Labs, Fidelity Investments' in-house software incubator, and has access to millions of unique data points representing the work of thousands of marketing and compliance professionals across a range of business lines. These documents (as well as documents from other independent sources) are verified by experts, including former regulatory staff lawyers, and fed into an NLP model.
Saifr's models “understand” content as it is created – text, images, audio, video, and more – and highlight potentially risky words, phrases, and images, explaining why they may be misleading, exaggerated, or problematic. The models not only flag content, but also suggest more compliant alternative language and required disclosures. The models score content for marketing optimization, including sentiment, readability level, and inclusive language. Changes can be made before compliance officers see the first version.
“We are incredibly proud to receive the 'Best AI-Based Solution for Financial Services' award from AI Breakthrough. Our goal is to help companies produce better, less risky content faster and get control of marketing compliance sooner, even in the face of changing regulations and significant penalties,” said David L. ValheraarSaifr's CEO, Mike, said: “Our solution has been proven to consistently detect 90% of the issues that human compliance reviewers would find, allowing experts to focus on the more nuanced and challenging issues that require uniquely human judgement. Our team continues to bring that spirit and drive to make an impact through advanced AI.”
The AI Breakthrough Awards' mission is to celebrate outstanding achievements and recognize innovation, effort, and success across a variety of AI and ML-related categories, including generative AI, computer vision, AIOps, deep learning, robotics, natural language processing, and industry-specific AI applications. This year's program received more than 5,000 nominations from more than 20 countries around the world.
“Saifr meets the ever-changing needs of financial services, allowing firms to spend more time on what matters most to their customers. Financial institutions are subject to ever-changing regulations to protect investors. The impact of these breaches has led to multiple compliance reviews and made it difficult for marketing teams to deliver timely communications,” Saifr said. Steve JohanssonSaifr, Managing Director of AI Breakthrough, said: “Saifr helps reduce friction, increase efficiency and mitigate risk. The company's innovative AI-driven solutions help clients in their efforts to get materials to market faster, reduce brand and compliance risks, and protect consumers from being misled when making important financial decisions.”
About Saifr
Saifr, a RegTech within Fidelity Labs, Fidelity Investments' innovation incubator, is committed to protecting organizations from AI and regulatory risk. With intelligent technology that efficiently and effectively handles complex compliance and regulatory requirements, Saifr helps clients protect their enterprise while saving time, reducing costs and improving accuracy. Our advanced AI-powered risk prevention and management solutions include capabilities for marketing compliance reviews and bad media screening and monitoring. To learn more, visit https://saifr.ai.
About AI Breakthrough
The AI Breakthrough Awards program is part of Tech Breakthrough, the leading market intelligence and awards platform for global technology innovation and leadership, dedicated to celebrating excellence in artificial intelligence technologies, services, companies and products. The AI Breakthrough Awards publicly recognize the achievements of AI companies and products in categories including generative AI, machine learning, AI platforms, robotics, business intelligence, AI hardware and computer vision. For more information, visit AIBreakthroughAwards.com.
Tech Breakthrough LLC does not endorse any vendor, product, or service featured in our awards program, nor does it advise technology users to select only vendors that have received an award designation. Tech Breakthrough LLC awards are based on the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, express or implied, with respect to this awards program, including any warranties of merchantability or fitness for a particular purpose.
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