Smarsh has announced the development of an AI-powered Intelligent Agent, which it will begin selling as an add-on product to be fully integrated with its Enterprise Conduct Surveillance platform in 2025.
The company is a major provider of digital communications content capture, archiving, supervision and e-discovery within the brokerage and RIA industries.
“The Smarsh Intelligent Agent will emulate the expertise of compliance analysts to help surface only the most relevant communications for risk review and is designed to work on all forms of communications (assuming you're using a platform like Smarsh that ingests and standardizes content),” wrote Brandon Carl, EVP of AI and Product Strategy at Smarsh, in an email.
“It's being built by our in-house team and in partnership with financial services firms that are working with us on the design,” he wrote.
The Intelligent Agent will integrate with existing compliance workflows, relying on advanced large language models fed with historical alert patterns and human analyst decisions to make determinations or escalate alerts generated by the platform.
It should also, according to Smarsh, be able to proactively screen out less relevant communications before they need review as well.
In other words, the AI agent is meant to emulate the expertise of experienced compliance professionals who often spend an inordinate amount of time screening communications manually.
According to data compiled by Smarsh from customer feedback, compliance teams spend up to 80% of their time sifting through noise to find real risks while reviewing firm communications data.
Smarsh’s Intelligent Agent will be available to a select group of financial services customers first as a beta in early 2025, with general availability sometime later in the year.
The final product cost is pending.
“We are finalizing an add-on pricing structure with our customers that reflects fair market value and the benefits of the technology,” wrote Carl.
In July, the company announced it was among eight eDiscovery and Data Loss Prevention companies selected by OpenAI to integrate with as part of that firm’s first compliance partnership program.
The integration with OpenAI was meant to simplify the process of syncing ChatGPT Enterprise data in support of compliance-related activities, specifically for the financial services sector, including archiving, audit trails, data redaction and retention, and policy enforcement, meaning companies employing ChatGPT Enterprise would be able to easily synch their data with Smarsh’s compliance features and tools.
The company is claiming the Intelligent Agent product as another industry first, having been the original firm to introduce machine learning to communications surveillance almost a decade ago.
Smarsh later acquired pioneering artificial intelligence technology firm Digital Reasoning in 2020 and has since built its own in-house natural language processing and machine learning technology for analyzing both written and spoken communications data.
Other firsts claimed by Smarsh include introduction of transcription-powered voice surveillance, model governance, multilingual detection capabilities and productized AI, among other tools.
