Personable 2024 AI Training Summit Tackles Financial Fraud in the Public Sector

By Benjamin Chou, President, Personable Inc.

Last month, Personable hosted its 2024 AI Training Summit for Financial Investigators in the Public Sector at the National Press Club in Washington, D.C., bringing together public sector and technology leaders and financial fraud investigators to discuss how artificial intelligence (AI) can transform financial investigations.

The Summit featured several keynote speakers, panel discussions and educational sessions highlighting AI’s crucial role in modern financial investigations. Among the expert group of thought leaders were:

  • Aneesh Chopra, former Chief Technology Officer of the United States (2009-12); President, CareJourney, who discussed how open data, AI and APIs can transform governmental technology landscapes
  • Jason Wild, Former VP of CEO Co-Innovation and Customer Engagement, Microsoft, who shared insight into how adopting AI can make work more efficient
  • Patricia Delafuente, Sr Data Scientist, NVIDIA Public Sector, who provided an overview of NVIDIA’s AI solutions for fraud investigators
  • Sanjeev Pulapaka, Principal Solutions Architect, Amazon Web Services (AWS), who shared how AI can analyze financial data and identify patterns of fraud
  • Chris “CT” Thomas, Technical Director, Global Defense and AI & Data Systems, Dell Technologies, who discussed how to build AI-ready organizations

Key AI Summit Takeaways

The Summit featured provocative conversation and debate on how AI is shaping the future of financial investigations, as well as emerging privacy, security, and regulatory challenges posed by AI.

Industry leaders such as NVIDIA were on hand to share how their businesses address financial fraud challenges. For example, in discussing its role, NVIDIA noted that its “…AI platform and frameworks include capabilities such as fraud detection, behavior matching, real-time screening, virtual assistants, cross-selling, next best action prediction, credit default prediction, and compliance automation.”

More broadly, a set of core themes emerged from Summit discussions:

  • What does AI mean for financial investigators? AI use cases have been made plain for everyone to see; it can complete time-intensive tasks in a matter of moments, allowing employees to focus on more pressing assignments. Financial investigators are still working to implement AI, which means that ongoing education is required to bust myths and level-set the impact for government agencies.
  • This is only the beginning. AI is still in its early stages, with significant advancements on the horizon. For financial fraud investigators, AI makes it easier to detect the complex patterns associated with financial fraud, enhancing the efficiency and accuracy of their investigations. The sooner organizations adopt AI, the greater their competitive advantage will be.
  • Let’s see something real. Everyone was eager to see AI in action. There’s a steady drumbeat of conversation around AI, but investigators want to turn talk into action. This means leveraging first-hand the AI technologies and tools that will positively transform investigative work.

AI Exit Survey: What has Financial Investigators excited…and concerned?

As part of the AI Summit, Personable surveyed public sector financial investigators and other key decision-makers. The results below highlight challenges and opportunities for agencies seeking to leverage AI to enhance fraud investigations.

The survey revealed:

  • Training gap. 74% of attendees had not received relevant AI training in the past year, highlighting a significant skills gap.
  • Demand for AI training. Despite a lack of prior training, 79% of attendees expressed significant interest in acquiring AI skills specific to financial investigations.
  • Benefits of AI. 82% of attendees believed the benefits of AI outweigh the associated risks, indicating eagerness among investigators to implement AI.
  • Challenges in financial investigation. 82% of attendees face the challenge of reducing costs associated with time-consuming investigative processes, emphasizing the importance of leveraging AI to streamline and optimize these processes.

Personable filling AI gap for Financial Investigators

Personable was pleased to demo its recently debuted ScanWriter AI solution throughout the Summit.

ScanWriter AI enhances financial fraud investigations by quickly analyzing vast amounts of financial data to identify suspicious patterns and anomalies, improving transaction monitoring systems by continuously learning and adapting to new fraud tactics. This new solution helps investigators process data faster and more accurately, allowing them to stay on top of increasingly sophisticated financial crimes. Through its advanced data analysis and automation capabilities, ScanWriter AI provides valuable support to financial fraud investigators, making their work more efficient and effective.

It was a real thrill to gather in Washington, D.C., with so many technology executives and government leaders to discuss AI’s role in financial investigations while providing attendees with valuable knowledge and practical skills needed to leverage AI for more efficient fraud investigations.

If you’re interested in learning more about AI’s role in financial investigations, contact us to schedule a demo of ScanWriter AI:


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