23 March 2023, London/New York: SteelEye, the company behind the first and only truly integrated surveillance solution, has integrated ChatGPT into its holistic compliance platform as part of a case study to evaluate the AI tool’s applicability in market surveillance.
The results are promising and show that ChatGPT can be highly beneficial for surveillance investigations when implemented correctly and used with care.
ChatGPT can support decision-making, empower compliance teams to analyze data with greater speed, and enable them to identify potential risks more effectively.
As part of the case study, which can be accessed here, the Large Language Model has been implemented in SteelEye's UAT environment. The functionality enables the analysis of specific communications records – such as voice calls, chats, meetings, and emails – against a number of key questions - and returns the following insights:
Summary: Content summary, motives, intentions, and regulatory or compliance issues identified
Analysis: Entities included in the conversation, sentiment, tone, and tonal shifts
Next steps: Suggestions around what a compliance officer should do next and proposed correspondence
This capability can be used as a starting point for initiating a surveillance investigation and to standardize workflow processes to boost the throughput and consistency of cases. It is also useful when analyzing communications in foreign languages, as the system returns the above insights in English regardless of the languages being used.
Commenting on the news, SteelEye’s Chief Product Officer and Co-Founder, Matt Storey, said:
“This functionality can be extremely helpful to a compliance professional. For example, let’s take a long voice call or chat conversation that has triggered a surveillance alert. With the ChatGPT integration, a content and motive summary is returned in seconds, along with a timestamp for any shifts in tone. The system also flags any potential regulatory or compliance issues arising from the conversation. This can help a surveillance analyst more easily understand what has been said and quickly take action against serious compliance violations.”
He adds: “The entities included and next step fields are also useful as they highlight the people and companies a surveillance analyst could investigate next. For example, if MNPI about a publicly listed company was mentioned, the analyst could check if anyone traded in that stock, which can be done in a few clicks using SteelEye’s integrated trade and communications surveillance solution.”
To learn more about the applicability of ChatGPT in market surveillance, download the case study here. This functionality will be available for clients to trial from March 24th. Clients are required to opt-in to ChatGPT’s data policy.
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SteelEye’s state-of-the-art algorithms and intelligent alerts proactively detect market manipulation and compliance breaches, while our holistic data model – which combines communications, trades, orders, news, and market data – provides intelligent insights and deep analytics.
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