AI Enabled Regulatory Impact Assessment System (RIA)

RIA is a regulatory compliance transformation framework that uses artificial intelligence and machine learning tools to increase operational efficiency of compliance when new regulations are created

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Inspiration

We wanted to use Appian's powerful UI and workflow capability to build something that can be actually used in the real world. Some of the members on the team have worked on regulatory projects before came across this idea.

We used the business issue that companies face in classifying obligations and used that as an opportunity to build a system that can be used by them. We connect to Google Vision AI and Regulations AI to get this result that will ease regulatory compliance process. Many companies do this through spreadsheets and this application will be a giant improvement for them.

And we just love the challenge.

What it does

The goal of the application is to have the entire compliance transformation framework. Currently the application does the following:

  1. It is a repository of regulators, regulations and obligations
  2. Connects to Google Vision for document parsing and OCR capability
  3. Connects to Regulations AI Engine to get obligation classification
  4. Allows business users to map applications to classifications for compliance

How I built it

Our team of developers, designers, and subject matter experts came together to build a solution that solved the problem we identified

Challenges I ran into

Because of the potentially large scope of the problem we were challenged in finding the correct subset to solve.

Accomplishments that I'm proud of

We are proud of the product we have built and the underlying technologies that empower it. This has the potential to be used across industries and regulatory jurisdictions.

What I learned

The scope of the work that goes into the bleeding edge of regulations and its impact on day to day business operations.

What's next for AI Enabled Regulatory Impact Assessment System (RIA)

We believe this application is will be very useful for businesses, This is a product that we can actually sell to companies. There are many companies that are looking for a solution to manage their regulatory compliance in an efficient manner. Highly regulated industries like Financial services, Healthcare and Life Sciences and Information Technology have the need to mitigate regulatory risk

We will work with the AI team to build this into a full blown application that users can deploy and use

Built With

  • appian-19.4
  • googlevision
  • powerbi
  • regulatoryaiengine
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