BAKU, Azerbaijan, October 20.
Artificial intelligence (AI) agents accelerate the analysis of
risks associated with financial transactions, thereby saving time
for professionals working in compliance and risk management,
Managing Partner and Founder of Formica AI, Özgür Oktan, said at
the Sustainable Business, Corporate Governance, Risk, and
Compliance (GRC) Conference in Baku on Tuesday, Trend’s correspondent
reports from the event.
He noted that the development of generative artificial
intelligence and large language models (LLMs) has significantly
amplified the impact of these technologies on both daily life and
business processes.
According to Oktan, while AI was previously associated primarily
with statistical and mathematical models, forecasting, and the
analysis of various indicators, the emergence of large language
models has expanded the capacity of systems to generate responses
tailored to user queries.
"The integration of large language models into our lives over
the past year is one of the primary reasons why artificial
intelligence is now reaching everyone," he remarked.
The company representative mentioned that Formica AI utilizes
generative AI technologies and serves over 70 clients across
Uzbekistan, Kyrgyzstan, and the UK. Through a unified application,
the company provides support to its clients in areas such as risk
and fraud management, compliance, and the assessment of customer
risk levels.
He also touched upon the capabilities of AI agents. He explained
that these agents are software systems capable of performing
specific tasks independently. They can automate routine processes
such as shopping, making payments, and booking restaurant
reservations.
Oktan noted that the application of AI agents in the fields of
risk management and GRC is also expanding. These technologies not
only reduce the workload of employees but also facilitate faster
data analysis.
"The greatest benefit of these agents is that they save time for
compliance and risk management professionals. The goal is not to
make decisions on their behalf, but to enable employees to work
more efficiently," he emphasized.
According to the company representative, AI agents can execute
tasks in a coordinated manner by distributing various
responsibilities among different agents. This accelerates the
analysis of complex operations.
He noted that, under normal circumstances, manually reviewing a
financial transaction and comparing it against past transactions
can take 15–20 minutes. An AI agent, however, can analyze the same
transaction in 5-10 seconds and provide an initial assessment as to
whether it is appropriate or potentially risky.
Oktan added that the implementation of such technologies enables
the more rapid identification of risks, the automation of
compliance processes, and allows specialists to focus their
attention on more complex issues.
