Logistics software company Descartes Systems Group has released an AI-powered enhancement to its denied party screening solution designed to automatically filter low-risk screening results. The tool, called Descartes Visual Compliance AI Assist, uses machine learning algorithms to help trade compliance teams reduce time spent reviewing false positive alerts that appear to match restricted entities but are benign.
The cloud-based solution includes comprehensive watch lists and regulatory content from the US, EU, Asia-Pacific and Europe, Middle East and Africa regions. The AI tool offers configurable risk levels that allow organizations to customize review thresholds and includes built-in audit and reporting capabilities with consolidated screening results and audit trails.
“While it makes sense to cast a wide net with screening, false positives are a costly drag on time, accuracy and compliance performance,” Brian Hodgson, general manager of trade compliance at Descartes, said in a news release. Descartes serves logistics-intensive businesses across industries including aerospace, financial services, retail, manufacturing and defense.
