Risk AI's initial use cases focus on business status changes and negative merchant reviews. For instance, when a merchant's business status changes, Risk AI verifies the change across the internet, a task that typically requires manual analysis. The AI also reviews negative comments from third-party platforms to assess whether a merchant is deteriorating from a risk standpoint. The AI is easy to use, requiring installation on Slack and a natural language prompt to begin its search. All actions are saved in an audit trail for easy review and future audits.
Key takeaways:
- Coris introduces Risk AI, an autonomous agent designed to act like a risk analyst or underwriter, with the initial use case of tackling false positives in risk management.
- Risk AI is capable of automating decisioning for 95% of false positive cases, and operates as a 24/7 conversational agent on Slack, translating natural language prompts into targeted risk insights and actions.
- The use of Risk AI can significantly reduce the workload for human risk analysts, particularly in areas such as business status alerts and negative merchant reviews.
- Coris is actively developing new use cases for Risk AI and exploring additional integrations to process more unstructured information, with the aim of further streamlining judgment and decision-making in risk management workflows.