Minh-Hoang Tran,1 Ngoc Quy Nguyen,2 Hong Tham Pham1,3 1Department of Pharmacy, Nhan Dan Gia Dinh Hospital, Ho Chi Minh City, Vietnam; 2Institute of Environmental Technology and Sustainable Development, Nguyen Tat Thanh University, Ho Chi Minh City, Vietnam; 3Department of Pharmacy, Nguyen Tat Thanh University, Ho Chi Minh City, Vietnam Correspondence: Hong Tham Pham, Department of Pharmacy, Nguyen Tat Thanh University, Ho Chi Minh City, Vietnam, Tel 84 919 559 085, Email [email protected] Abstract: Recent years have witnessed the rise of artificial intelligence (AI) in antimicrobial resistance (AMR) management, implying a positive signal in the fight against antibiotic-resistant microbes. The impact of AI starts with data collection and preparation for deploying AI-driven systems, which can lay the foundation for some effective infection control strategies. Primary applications of AI include identifying potential antimicrobial molecules, rapidly testing antimicrobial susceptibility, and optimizing antibiotic combinations. Aside from their outstanding effectiveness, these applications also express high potential in narrowing the burden gap of AMR among different settings around the world. Despite these benefits, the interpretability of AI-based systems or models remains vague.

EXCLUSIVE – Financial crime detecting platform QuantaVerse has added a new AI-based service to allow its financial institutions and banking clients better detect fraud and other crimes through audit investigations, as these crimes continue to be a major concern for banks and non-banks alike. The new CAE (Chief Audit Executive) Checkup service unveiled today uses the startup's AI Financial Crime Platform to analyze data and detect insider threats, bribery, corruption, money laundering, fraud, terrorism financing, and third-party risks. This can be done without having the audit team manual create models and study samples for anomalies to catch financial misbehavior. "With this new technology, audit departments can look at the entire transaction history of the year to spot anomalies," David McLaughlin, CEO and founder of QuantaVerse, told Bank Innovation. "That not only reduces risks, but also saves these internal audit teams resources and time."

One thing that makes ISIS so hard to fight is that the terrorist network is diffuse and scattered, with small cells of operatives all over the world. Not only does this make it hard for law enforcement to predict where the group might strike next; it makes it incredibly complicated to track activity on the network--activity like banking transactions. Small sums of money flow from foreign fighter to foreign fighter, yet banks struggle to identify it within their systems. Banks have long used anti-money laundering systems to flag suspicious activity, and in the aftermath of September 11th, they have turned to those same legacy tools to catch terror-related transactions, too. But these legacy tools are not up to the job.

Wayne, PA (June 7, 2017) –QuantaVerse, innovator of data science and artificial intelligence (AI) solutions purpose-built for identifying financial crimes, today announced a complimentary analysis that financial institutions can use to test the effectiveness of their AML programs. The CCO (Chief Compliance Officer) Checkup is a free service whereby QuantaVerse's AI solution will analyze transaction data to detect "false negatives" or anomalous behaviors that may have been missed by an institution's existing transaction monitoring system (TMS). These risks take the form of fines, penalties and forfeitures for violations of BSA and other regulations. Despite increased investments in AML systems, this risk is increasing year over year. In 2016 alone, $42 billion in fines for AML non-compliance were paid to federal regulators by the largest North American and European financial institutions.

Concerned about potential regulatory fines and skyrocketing costs, the world's largest banks are turning to artificial intelligence to improve their compliance with know-your-customer and anti-money laundering regulations. "The value proposition for AI solutions is highest for large banks with significant volumes, complexity, multiple lines of business and geographical reach as these banks are affected most by the current challenges and stand to benefit the most by adopting new and innovative solutions," write Arin Ray and Neil Katkov, analysts with Celent in a new research report entitled "Artificial Intelligence in KYC-AML: Enabling the Next Level of Operational Efficiency." The analysts predict that global tier-one and large regional banks will be early adopters of AI over the next three years. Ray and Katkov's conclusions match the findings of a survey of 424 executives from financial services and fintech companies released in March by Chicago-based law firm Baker McKenzie. The firm found that 29 percent are thinking about using AI in know-your customer and anti-money laundering monitoring.

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