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Dow Jones Risk & Compliance – a business interviewed by this news service in January – has unveiled an AI-powered research platform for fast due diligence reports.

Known as Dow Jones Integrity Check, the offering is a fully-automated solution that goes beyond screening to identify risks and red flags from thousands of data sources, Dow Jones said in a statement yesterday.

The offering uses generative AI, natural language processing (NLP) and entity resolution technologies provided by AI firm Xapien.

“The launch of Dow Jones Integrity Check illustrates AI’s potential as a force for good in the global fight against financial crime,” Joel Lange, general manager, Dow Jones Risk & Research, said.

“Reducing the amount of time needed to run a background check from days to minutes will transform the way compliance teams approach due diligence, ultimately providing greater transparency and assurance on who they are doing business with.”

Chris Green, co-founder and CEO of Xapien, added: “This innovation enables anytime due diligence, revolutionising business-compliance dynamics and empowering clients to strategically direct their efforts.”