In highly-regulated industries, such as financial services or insurance, reducing compliance risk is Job #1. It’s clear that compliance directors and teams working on ad reviews face daunting challenges. Finding ways to increase productivity, while ensuring accuracy and compliant customer communications add to the heavy lift that is ad reviews. Bolstering the toolkit with platforms purposely-built to address common challenges is an important step to solve those issues. Ad review processes are a stellar candidate for adopting innovative technology.
Our teams have noticed an increasing curiosity by our client partners about emerging technologies, especially Artificial Intelligence (AI). Across those industries where martech professionals manage offers, personalization and compliance, there is a growing understanding of AI’s immense potential to help improve internal operations and outcomes. Considering the substantial benefits of these AI-empowered platforms, that makes perfect sense.
Compliance team leaders are always seeking solutions to reduce errors and risk, while increasing efficiencies and revenue. For financial services martech teams, compliance issues often bring the most daunting challenges. In the insurance industry, we’re seeing more large organizations starting Innovation Labs. This is progress, and appears to be a direction smaller and mid-size firms will also take, wisely so.
Leveraging AI to Improve Ad Reviews
Establishing a basic understanding of how it is implemented, and why, is what has led us to create our resource series focused on helping teams appreciate the why behind AI.
The key to continued progress in this growing AI arena is knowledge. An openness to, and appreciation for, the ways tech platform partners collaborate with compliance teams – to drive better processes – is proving beneficial for marketing teams and the segments they support.
Ensuring a high level of compliance, in more efficient ways, makes for an enterprise-wide win-win.
Primary motivations for companies facing regulatory complexities are, more than anything, avoiding potential fines and reputational hits. This makes ensuring consistency and accuracy imperative, and makes the benefits of automated ad review tools most compelling. It’s why we refer to ad reviews as intelligent reviews. It brings a new level of efficiency and ease to ad review processes, giving time back to over-burdened teams.
Naehas Intelligent Reviews takes the heavy lifting out of your ad review process. Purposely-built for highly regulated industries, the AI-empowered platform provides martech leaders confidence all customer communications are accurate and compliant.
How’s it work? Process Optimization 101
The key is to let the AI scan the repetitive rule elements and leave the nuanced compliance judgments to the professionals. Deep-dive discussions on how content moves through the ad review process are becoming increasingly common between clients and platform partners.
By saving compliance staff time on the tedious work, you and your ad review process teams can focus on more interesting and value-added work.
Productivity matters. That’s the primary force driving acceptance of AI in the industry today.
Simply, AI allows companies to gain capacity and not reduce staff. Imagine that. Gaining time, aiding the knowledge workers. It’s supportive, solution-driven software. In fact and function, AI-empowered platforms do the routine calling out of errors, so the insurance compliance professional can spend their time on the complicated judgments and nuances associated with compliance. With this understanding, it’s easy to see why compliance directors are seeing how AI has valuable applications in the Ad Review process, making the management of disclosure content more accurate, even assisting QA reviews on other mission critical documents.
Wanted: Ad Review Support Solutions
- If you answer in the affirmative to these questions, you may just want to look into ways to future-proof your compliance processes.
- Is your manual review process still letting errors through?
- Does reliance on sampling keep you up at night?
- Does your team struggle with storing and retrieving compliance evidence?
- Are you a compliance director, compliance ops leader, or ad review team member?
When you’re responsible for results, resources matter. Leaders in financial services, wealth management and insurance are all gaining a competitive edge, and reducing risk, by adopting platforms to yield impressive outcomes. Examples abound. Reduced errors, to the tune of 100% reduction in self-reported compliance errors. It’s possible, and happening now. Faster reviews allow for hundreds of rules assessed in minutes. Improved productivity, with increases of 20% are common among clients with whom we’ve partnered.
The race is on to create efficiencies. Today, tech tools like intelligent reviews do just that.
Content Assessment and Accuracy
We all know that manually reviewing every single element for compliance can be tedious. Sometimes things slip through. As seen with clients, our AI platform, augmented with industry specific compliance rules, becomes a trusted assistant helping ensure 100% accuracy, while keeping up with an ever-increasing workload. With compliance, there’s no room for error. Today, a goal of 100% accuracy is attainable with AI.
Intelligent Reviews empowers reviewers to assess content at its source, by combining the power of AI and a centralized compliance repository, reducing risk and increasing productivity.
In the spirit of resourcefulness, here’s a simple summary of our solution.
- Automated assessments that keep getting smarter through AI
- A single workflow for all approvals
- Visual annotations and change requests
- Pixel-by-pixel and word-for-word document comparisons
Gone are the days of using traditional, hard to manage spreadsheets and emails. The AI-empowered technology allows you to consolidate all of your checklists and approval workflows into one location. Monitoring tasks from creation to resolution means never letting a request fall through the cracks. Further, it provides the ability to easily retrieve documents and audit history, providing bulletproof evidence for regulators. It is clear to see who made changes and comments, when it happened and what it was. These are game-changing advantages.
The Why Behind AI for Ad Reviews
The ways in which AI-assisted technology supports compliance teams’ ad review processes are multiple and measurable. Here are the primary benefits:
- Ensuring accuracy. Risk is reduced with automated rules specifically tuned for your compliance requirements and brand standards
- Comprehensive coverage. The tool allows your first and second lines of defense to assess every document, via AI and automations, so no need for sampling
- Evidence of controls. Significant among the benefits of this platform is that compliance teams gain the ability to centrally manage all compliance evidence in one system of record, finding it quickly when it’s needed. This is an enormous advantage, featuring everything from a searchable file system, automated task management and built-in compliance reporting.
Value-added benefits also include the ability to collaborate with all the stakeholders to streamline compliance assessments and approvals. Leveraging built-in compare and reporting tools to provide proof of accuracy proves significant. In highly-regulated industries, another key feature is how the system is able to evolve with the regulations of financial institutions, using flexible and easily customized reports. In today’s climate of increasing regulations, this is big.
The benefits of working closely with innovative tech teams who understand both your business and the industry are wide-ranging and impactful. Our AI and compliance rules have been tuned for multiple industries to ensure compliance, consistency and accuracy. The impact is enormous: saving time on the tedious work, so that teams can focus on the more interesting and value-added work.
Efficiencies bring savings, of time, manpower, and costs. This is how AI delivers ROI.
Keeping up can be hard to do. Leveraging platform partner expertise and the resources they provide is an important step in creating an ad review process that yields efficiencies and
reduces your compliance risk.