Compliance Chatbot NLP Routing for Faster Risk Inquiry Answers
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Solution Overview
Problem
Companies face challenges in ensuring compliance with various laws, regulations, and internal policies due to the time-consuming nature of manually parsing through documents to determine compliance, which can lead to fines, lawsuits, and reputational damage.
Innovation Solution
A system utilizing a chatbot interface with natural language processing (NLP) to determine the intent of user inquiries and match them to relevant data sets, generating real-time answers and follow-up questions to drill down to specific compliance issues.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If company personnel manually parse through documents to determine compliance, then they can identify compliance issues, but the process is time-consuming and inefficient
Solution Approach 1:
The patent replaces the mechanical manual document parsing process with an automated NLP-based chatbot system. The chatbot uses natural language processing to automatically analyze contracts, regulatory notices, statutes, and internal policies, eliminating the need for personnel to manually read and interpret these documents while maintaining compliance detection accuracy.
Solution Approach 2:
The patent introduces an intermediary NLP model and classifier system between the compliance documents and the personnel. This intermediary automatically processes the documents, extracts relevant compliance information, and presents it to personnel in an accessible format, thereby reducing the time required while preserving detection accuracy.
2Loss of information
If company personnel read all relevant documents to understand compliance obligations, then they can be informed of obligations, but the process is time-consuming and burdensome
Solution Approach 1:
The patent extracts only the relevant compliance obligation information from the full documents using NLP techniques. Instead of requiring personnel to read entire contracts and regulations, the system extracts specific obligations, requirements, and compliance criteria, presenting them in a condensed and accessible format that maintains information completeness while eliminating reading burden.
Solution Approach 2:
The patent creates simplified copies or representations of the compliance obligations from the original documents. The chatbot generates easy-to-understand summaries, key point extractions, and structured presentations of compliance requirements that capture the essential information without requiring personnel to engage with the full complex documentation.
3Productivity
If a chatbot system is implemented to answer compliance inquiries automatically, then response time is reduced, but the system complexity increases
Solution Approach 1:
The patent implements a multi-functional chatbot system that handles various compliance-related tasks through a single interface. The chatbot can answer inquiries about different types of compliance obligations (regulatory, contractual, internal policy), process multiple document types, and provide various forms of assistance (information retrieval, interpretation, guidance), thereby achieving high productivity through a consolidated system rather than multiple separate tools.
Data Source
AI summary
A system and method employs a chatbot into which a user can input an inquiry/question regarding a risk related topic is disclosed. The user can obtain an answer to the inquiry. The system and method can receive, via a chatbot interface, an inquiry. An intent of the inquiry can be determined using a natural language processing (NLP) model. The inquiry can be matched, using a classifier, to a related data set based on the determined intent. An output can be generated based on the related data set in response to the inquiry. The output can be transmitted for display on the chatbot interface.