How to Identify Compliance-Grade AI

Introduction

AI models are everywhere, and AI-enabled products are rapidly appearing in all sorts of industries – including financial compliance. But what distinguishes the AI products and services you should feel comfortable using and those you should think twice about? 

Identifying Compliance-Grade AI

At Hummingbird, our compliance-first attitude toward AI has defined both how we think about – and how we build – AI tools and features. To that end, we’ve developed a framework for assessing whether or not an AI tool or feature should be considered “compliance-grade.” 

At a minimum, we believe compliance-grade AI should be S.Q.U.A.T.*

(*And yes, we know S.Q.U.A.T. is a silly acronym. But admit it – you remember it now!)

Wrap-Up

Given the sensitive nature of compliance work, the addition of any new tool should be approached with caution. With AI tools, this caution is magnified by the tools' potential security concerns. Using the S.Q.U.A.T. framework can help teams assess whether or not the tools they're looking to implement are, in fact, compliance-grade.