Report from 19th Annual IBA Anti-Corruption Conference – Panel 3

Andrew Levine

Debevoise & Plimpton, New York

amlevine@debevoise.com

Silvia Martina

Cagnola & Associati, Milan 

sm@cagnolaeassociati.it

The third panel addressed exciting opportunities to leverage artificial intelligence (AI) and other technologies, bolstering compliance programs while mitigating challenges involving data privacy, bias and privilege. Moderated by Andrew M Levine (Debevoise & Plimpton, United States), the panel included Stephane Eljarrat (Norton Rose, Canada), Thiago Jabor Pinheiro (Mattos Filho, Brazil), Silvia Martina (Cagnola & Associati Studio Legale, Italy), and Melda Tanyeri (Global Business Group Compliance Leader, Nokia, United Kingdom).

The panel began by reviewing the expectations of regulators, both national and supranational authorities, and in-house professionals, regarding the use of technology. Panelists shared practical examples of how companies have incorporated predictive and generative AI into their compliance programs, such as in detecting suspicious transactions. AI can offer insights that support better risk assessment and decision-making, as well as new functionality and the prospect of enlivening compliance training. Other examples included innovations in conducting background checks and identifying politically exposed persons, albeit with various accuracy challenges. The panel also explored the risk of criminals deploying technology for improper purposes, including challenges posed by off-system communications and best practices for combatting such risks.

Beyond compliance, the panel discussed how AI and other technological innovations can assist in conducting internal investigations, including data analysis and via photo and voice recognition. The panel considered the possible implementation of AI in criminal trials, both to assist prosecutors and defence counsel. While experimentation is underway, only time will tell where the future lies.

The discussion then focused on concerns related to inaccurate results, including AI hallucinations. Other topics of concern included data privacy and attorney-client privilege. Panelists also explored the prospect that generative AI may disrupt the legal and compliance professions, among others, such as in crafting policies and procedures. A common view shared by the panel is the imperative of using AI in concert with human expertise to maximise potential benefits and mitigate related risks.