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April 6-7, 2022 | Munich, Germany

Join us at this years Export Compliance event in Munich, lets meet to discuss and learn. Whether your interest is in the updated EU Dual-Use regulation, US, UK and EU sanctions or investment controls, Chinese export controls and “Anti-Sanctions Law” or US re-exports, if you export out of Europe – this is your event. Let’s face it, the only constant nowadays in export control – is change. Do not get caught out, drop us a line to talk further and attend.

Speaker

Johannes Hangl , Director, Solutions Consulting

Johannes Hangl

Senior Director, Solutions Consulting

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Driving Due Diligence through Artificial Intelligence in Export Compliance

As a company, you should be able to count on your processes and data to do the necessary compliance due diligence on your export shipments. Traditional IT systems provide great support for screening your exports but require solid & detailed data quality to determine restricted parties, licenses etc. related to your transactions. Speed and adaptability are crucial for exporters, and every minute of delay due to missing data or tedious manual results can impact your bottom line. To make export diligence not only possible but efficient, companies need solutions to ensure reasonable care while supporting the business. Artificial Intelligence driven real-time risk analysis helps to process export transactions and come up with risk scores based on a minimum set of data using over millions of data points for the due diligence analysis. The result is a score for each transaction’s overall risk level and an automatic alert when the risk reaches a pre-specified point based on your business risk profile – no matter if products are classified or any other crucial data is missing. Last but not least, AI’s ability to help ”learn” over time means that when a new transaction occurs with similar patterns to a past transaction, decision making can be improved and elevated to new levels of due diligence while reducing false positives.

Key takeaways:

  • Traditional algorithms don’t support necessary due diligence without rich & structured data
  • AI powered real-time assessment of transactions guarantees speed & adaptability
  • AI technology well create a more efficient future learning from past decisions & patterns