Kim, a leading no-code SaaS platform, has recently launched an ‘AI Technology Use and Compliance Application’ to assist organizations in meeting regulatory requirements regarding the use of Artificial Intelligence (AI) in their operations.
On April 22, 2024, the Financial Conduct Authority (FCA) and the Bank of England (BoE) announced updates on their approach to firms utilizing AI. All organizations will now need to provide explanations to regulators regarding their use of AI, including how they identify, assess, and manage associated risks.
The newly introduced ‘AI Technology Use and Compliance Application’ by Kim aims to help firms in the legal, accounting, and financial sectors in addressing these requirements. This webform application enables firms to assess and manage risks, record their AI usage, report to internal committees, fulfill external compliance standards, and maintain a comprehensive audit trail.
Divided into two sections, the application first covers the firm’s general approach to AI usage and then allows for the confirmation of specific AI tools and their purposes within the organization.
Samantha Jefferies, Kim’s VP of Sales, emphasized the ease of use of the application, stating that existing customers can import it into their Kim instance, update firm details as needed, and ensure that the document is always accessible for audits.
By leveraging Kim’s no-code wizard, users can create customized webforms, which can be easily shared and completed by recipients. The platform’s Campaign functionality further facilitates efficient communication and data collection for compliance and other teams.
Kim, with its Enterprise and Business solutions, offers automation of document generation, assembly, and workflow processes for various functions within organizations. The platform’s patented technology has been successfully utilized by Fortune 500 companies, demonstrating its effectiveness in streamlining operations.
For organizations looking to enhance compliance processes and optimize document management, Kim provides a valuable solution that combines user-friendly interface with powerful automation capabilities.
For more information about Kim’s AI compliance application and other services, interested parties can contact Becky Roberts at rebecca.roberts@kimtechnologies.com or visit www.kimdocument.com for a demonstration.
