FTI Consulting’s Technology Segment Launches IQ.AI for Legal and Compliance
FTI Consulting's Technology segment has launched IQ.AI by FTI Technology™, a suite of artificial intelligence solutions for legal and regulatory matters. The offerings include:
1. IQ.AI for Investigations: Document summarization for quick fact extraction and case chronology development.
2. IQ.AI for Data Breach: Rapid identification of sensitive data for breach response and compliance.
3. IQ.AI for Antitrust: Monitoring and analytics to reduce risk in complex datasets.
FTI Technology's approach combines proprietary workflows with industry-leading AI technologies, aiming to balance innovation, performance, and risk mitigation. The launch addresses the growing demand for AI solutions in legal and compliance functions, with 78% of business leaders viewing generative AI as a competitive opportunity.
Il segmento Tecnologia di FTI Consulting ha lanciato IQ.AI by FTI Technology™, una suite di soluzioni di intelligenza artificiale per questioni legali e normative. Le offerte includono:
1. IQ.AI per le Investigazioni: Sintesi dei documenti per un'estrazione rapida dei fatti e sviluppo della cronologia del caso.
2. IQ.AI per le Violazioni dei Dati: Identificazione rapida dei dati sensibili per la risposta alle violazioni e la conformità.
3. IQ.AI per l'Antitrust: Monitoraggio e analisi per ridurre il rischio in dataset complessi.
L'approccio di FTI Technology combina flussi di lavoro proprietari con tecnologie di intelligenza artificiale leader del settore, mirando a bilanciare innovazione, prestazioni e mitigazione del rischio. Il lancio risponde alla crescente domanda di soluzioni di intelligenza artificiale nelle funzioni legali e di conformità, con il 78% dei leader aziendali che considerano l'intelligenza artificiale generativa come un'opportunità competitiva.
El segmento de Tecnología de FTI Consulting ha lanzado IQ.AI by FTI Technology™, un conjunto de soluciones de inteligencia artificial para asuntos legales y regulatorios. Las ofertas incluyen:
1. IQ.AI para Investigaciones: Resumen de documentos para una rápida extracción de hechos y desarrollo de cronología de casos.
2. IQ.AI para Brechas de Datos: Identificación rápida de datos sensibles para la respuesta a brechas y cumplimiento.
3. IQ.AI para Antimonopolio: Monitoreo y análisis para reducir el riesgo en conjuntos de datos complejos.
El enfoque de FTI Technology combina flujos de trabajo propios con tecnologías de inteligencia artificial de vanguardia, buscando equilibrar innovación, rendimiento y mitigación de riesgos. El lanzamiento responde a la creciente demanda de soluciones de IA en funciones legales y de cumplimiento, con un 78% de los líderes empresariales viendo la IA generativa como una oportunidad competitiva.
FTI 컨설팅의 기술 부문은 IQ.AI by FTI Technology™를 출시했습니다. 이는 법률 및 규제 문제를 위한 인공지능 솔루션 모음입니다. 제공되는 서비스는 다음과 같습니다:
1. 조사용 IQ.AI: 빠른 사실 추출 및 사례 연대기 개발을 위한 문서 요약.
2. 데이터 유출용 IQ.AI: 위반 대응 및 준수를 위한 민감한 데이터의 신속한 식별.
3. 반독점용 IQ.AI: 복잡한 데이터 세트에서 위험을 줄이기 위한 모니터링 및 분석.
FTI 테크놀로지의 접근은 독점적인 작업 흐름과 업계 최고의 AI 기술을 결합하여 혁신, 성과 및 위험 완화를 균형 있게 달성하는 것을 목표로 합니다. 이번 출시는 법률 및 준수 기능에서 인공지능 솔루션에 대한 수요 증가에 부응하여 이루어졌으며, 78%의 비즈니스 리더가 생성적 AI를 경쟁 기회로 보고 있습니다.
Le segment Technologie de FTI Consulting a lancé IQ.AI by FTI Technology™, une suite de solutions d'intelligence artificielle pour les questions juridiques et réglementaires. Les offres comprennent :
1. IQ.AI pour les Investigations : Résumé de documents pour une extraction rapide des faits et le développement de la chronologie des affaires.
2. IQ.AI pour les Violations de Données : Identification rapide des données sensibles pour la réponse aux violations et la conformité.
3. IQ.AI pour l'Antitrust : Surveillance et analyses pour réduire le risque dans des ensembles de données complexes.
L'approche de FTI Technology combine des flux de travail propriétaires avec des technologies d'IA de premier plan, visant à équilibrer innovation, performance et atténuation des risques. Le lancement répond à la demande croissante de solutions d'IA dans les fonctions juridiques et de conformité, avec 78 % des leaders d'entreprise considérant l'IA générative comme une occasion concurrentielle.
Der Technologiesektor von FTI Consulting hat IQ.AI by FTI Technology™ lanciert, eine Suite von Lösungen für künstliche Intelligenz in rechtlichen und regulatorischen Angelegenheiten. Die Angebote umfassen:
1. IQ.AI für Ermittlungen: Dokumentenzusammenfassungen für schnelle Faktenextraktion und Fallchronologieentwicklung.
2. IQ.AI für Datenverletzungen: Schnelle Identifizierung sensibler Daten für die Reaktion auf Verletzungen und die Einhaltung.
3. IQ.AI für Antitrust: Überwachung und Analyse zur Risikominderung in komplexen Datenmengen.
Der Ansatz von FTI Technology kombiniert proprietäre Arbeitsabläufe mit führenden KI-Technologien, um Innovation, Leistung und Risikominderung ins Gleichgewicht zu bringen. Der Launch reagiert auf die wachsende Nachfrage nach KI-Lösungen in rechtlichen und Compliance-Funktionen, wobei 78 % der Unternehmensleiter generative KI als wettbewerbliche Gelegenheit betrachten.
- Launch of IQ.AI solutions addressing key areas in legal and regulatory matters
- Proprietary combination of workflows and expertise for applying AI technologies
- Potential for increased efficiency and cost-effectiveness in legal processes
- Extensive testing and customization capabilities for client-specific needs
- Potential regulatory uncertainties surrounding AI use in legal and compliance sectors
- Challenges in measuring and demonstrating the value of AI projects for many organizations
Insights
The launch of IQ.AI by FTI Technology marks a significant advancement in AI applications for legal and compliance sectors. This suite of tools addresses critical areas such as investigations, data breach response and antitrust compliance, leveraging AI to enhance efficiency and accuracy in complex legal processes.
Key features like document summarization and PII extraction demonstrate practical applications that can dramatically reduce time and costs in legal matters. The antitrust monitoring capabilities are particularly noteworthy, as they could help companies proactively manage regulatory risks in an increasingly scrutinized business environment.
However, the success of IQ.AI will largely depend on its ability to deliver reliable, defensible results that can withstand legal scrutiny. The emphasis on combining AI with human expertise suggests a balanced approach, which is important in legal contexts where errors can have significant consequences.
For investors, this development positions FCN at the forefront of legal tech innovation, potentially opening new revenue streams and enhancing its competitive edge in the consulting market. The timing aligns well with the growing demand for AI solutions in legal and compliance functions, as highlighted by the cited MIT and Thomson Reuters studies.
FTI Consulting's approach with IQ.AI reflects a thoughtful integration of AI into sensitive legal and compliance processes. The emphasis on risk mitigation and customization for specific use cases addresses key concerns in AI adoption, particularly in regulated industries.
The company's strategy of combining proprietary frameworks with third-party AI tools demonstrates a pragmatic approach to AI implementation. This could appeal to clients who want to leverage AI benefits without the full risk and investment of developing in-house solutions.
However, the rapid evolution of AI regulations presents both an opportunity and a challenge. FTI's expertise in navigating these changes could become a valuable asset, but it also requires constant vigilance and adaptation to maintain compliance and effectiveness.
The focus on testing and quality control, especially in multilingual contexts, is important for maintaining trust and reliability in AI-assisted legal processes. This attention to detail could differentiate FTI in a market where AI accuracy and bias are significant concerns.
Overall, IQ.AI positions FTI Consulting as a responsible innovator in the AI space, potentially attracting clients who are cautious about AI adoption but recognize its necessity in staying competitive.
New Offerings Provide a Foundation for Measurable, Scalable and Reliable Use of Artificial Intelligence to Bridge the Gap Between Risk and Innovation
WASHINGTON, Oct. 08, 2024 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced that the firm’s Technology segment has launched IQ.AI by FTI Technology™, artificial intelligence solutions that address a range of client issues across disputes and investigations, antitrust and data breach response.
FTI Technology’s digital insights and risk management experts, attorneys, data scientists and consultants designed and deliver IQ.AI as a proprietary combination of workflows and expertise for applying industry-leading AI technologies in legal and regulatory matters. With IQ.AI, FTI Technology helps clients balance innovation, technology performance and risk mitigation for specific AI use cases. Offerings include:
- IQ.AI for Investigations: Includes document summarization to quickly and defensibly generate overviews, extract key facts, develop case chronologies and enhance human review.
- IQ.AI for Data Breach: Enables the quick identification and extraction of personally identifiable information, personal health information and other sensitive data for breach response and data protection compliance during legal and regulatory document productions.
- IQ.AI for Antitrust: Features can include monitoring in support of compliance with antitrust and other regulations, including oversight for prohibited behaviors within enterprise communications platforms and chat applications and customized analytics to reduce risk across large complex datasets.
A surge of interest for AI solutions across industries is adding pressure to legal, compliance and adjacent business functions to find practical, cost-effective use cases supported by risk mitigation measures. A survey from MIT Technology Review Insights found that
“The use of advanced analytics and AI to support defensible, efficient, insightful discovery has long been embedded in our DNA, and our teams have successfully applied numerous models and algorithms to accelerate fact-finding for hundreds of client matters globally,” said Sophie Ross, Global Chief Executive Officer of FTI Technology. “We have made significant investments in AI research and development, working with trusted software providers and hiring data scientists with e-discovery expertise to underpin our IQ.AI offerings. We will continue to enhance and build upon these capabilities as AI technology and regulations evolve, serving as a trusted advisor every step along each client’s AI journey.”
FTI Technology’s IQ.AI supports the pursuit of clients’ AI objectives and the use of reliable third-party AI tools without unnecessary exposure to risk. The offerings harness FTI Technology’s proprietary frameworks, enhanced with AI-powered natural language processing and computer vision.
In addition to these solutions, FTI Technology’s decades-long investment in AI technology and dedicated team of IQ.AI experts work together to advise clients across a broad range of issues where AI use intersects with legal and regulatory risk. The team conducts extensive, ongoing testing to leverage large language models from numerous technology providers in concert to allow customization for specific data types, use cases and unique client needs, saving clients the resources and time required to invest in proprietary AI development. FTI Technology’s IQ.AI experts also evaluate and advise clients on the effective use of evolving generative AI features within leading e-discovery platforms.
For example, FTI Technology recently deployed IQ.AI to leverage generative AI in combination with human expertise during a complex, sensitive and time-constrained investigation for a global consumer goods company. A team of data scientists, AI-trained reviewers and prompt engineers refined generative AI prompts for accuracy and used generative AI to accelerate key aspects of the investigation, including across multilingual materials. This reduced manual workload while upholding a high standard of quality control, allowing for on-time, defensible and cost-effective completion of the investigation.
Jon Chan, a Senior Managing Director within FTI Technology’s E-Discovery Consulting & Services practice, added, “As clients work to understand how to benefit from AI, uncertainties remain regarding the impact, cost, scale and reliability of large language models currently available, especially in e-discovery, document review and other legal and regulatory use cases. The regulatory landscape is changing rapidly around AI, making it difficult for organizations to determine whether their projects may introduce compliance concerns. These factors highlight the critical need many organizations have for expertise, training and alignment to guide their AI strategies. IQ.AI supports these demands via extensive testing and customization to achieve defensible, fit-for-purpose workflows.”
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 8,000 employees located in 33 countries and territories, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated
FTI Consulting, Inc.
555 12th Street NW
Washington, DC 20004
+1.202.312.9100
Investor Contact:
Mollie Hawkes
+1.617.747.1791
mollie.hawkes@fticonsulting.com
Media Contacts:
Ashley Allman
+1.206.369.5209
ashley.allman@fticonsulting.com
FAQ
What is IQ.AI by FTI Technology and when was it launched?
What specific areas does IQ.AI address for FTI Consulting (FCN)?
How does IQ.AI for Data Breach assist FTI Consulting (FCN) clients?
What percentage of business leaders view generative AI as a competitive opportunity according to the press release about FTI Consulting (FCN)?
