COMPLIANCE
Why
ChatGPT is unlikely to replace the
human factor in
AML
Artificial intelligence ( AI ) describes the development of computer systems that can perform tasks typically requiring human intelligence , such as learning , reasoning and problem-solving . AI has already been used across a multitude of industries 1 to improve daily life . It has been implemented in the health care industry to carry out more accurate diagnoses . In the food industry , AI develops methods to raise more perfect crops . In the banking industry , AI quickly processes loan applications .
As AI continues to develop into a powerful and accessible tool , society benefits from its wide-ranging applications . Since criminals ― particularly financial criminals such as fraudsters , money launderers and terrorist financiers ― tend to be early adopters of new technology , the work we all do in anti-money laundering / counter-terrorist financing ( AML / CTF ) has just become more difficult . Examples of technology being adopted by criminals range from using the dark web to buy and sell illegal goods , 2 to email phishing scams and recent internet-based pig butchering scams . 3
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