Deloitte’s Centre for Regulatory Strategy is tasked with providing insights and advice to help clients understand and stay ahead of regulatory developments.
This Deloitte team responsible for analyzing how financial services firms, such as banks, insurers, asset managers and capital markets in general, could be impacted.
Their main responsibility is to produce thought leadership in the form of blogs, white papers and briefs to allow Deloitte to understand how best to help its clients. Being informed of any regulatory developments is therefore integral to how the team performs, but traditionally this was a time-consuming process.
“As a team, we try to make sense of the financial regulation world. And in order to do that, we need to know what’s happening in that world.”
A frustrating and time-consuming process
Given the nature of their work, the team needed to monitor a specific group of websites. Before Signal AI, they would manually check each one, flag it to the team and discuss its importance, before conducting further analysis. This would then inform their thought leadership. A Deloitte Assistant Manager describes it as a “very people intensive process”.
As experts in their field, it wasn’t a useful time for every member to manually check through individual sites.
“It’s very frustrating to have to go on 20 different websites every day and it takes a lot of time to find interesting articles on the internet if you’re just on the internet clicking on things. It just felt more and more like we were spending our time doing something that wasn’t making the best use of our knowledge and expertise.”
Features that ensure no story is missed
Having been referred by another team within Deloitte already successfully using Signal AI to digitize tax regulation monitoring, the Regulatory Strategy team knew the benefits of using an AI-powered tool to enhance their search for information.
Using Signal AI means one person can now perform the research tasks of several people. Training the AI on certain topics from a specific set of sources has not only saved time and made the team more productive, but shown interesting stories they wouldn’t have found before.
The platform’s bulletin function – allowing distribution of relevant content to teams or recipients within their organization – delivers content easily to the team, who then take that and easily repackage content to share with the larger organization. The platform’s bulletin function further reduces the amount of manual effort needed.
his Deloitte team make use of Entities – leveraging AI technology to recognize complex or ambiguous terms without the use of extensive boolean searches – to track topics in a much swifter and comprehensive method.
“Customer success has been very responsive. The platform, the people that sit behind it, and the relationship we have with them – and how that helps us make better use of the platform – is really good.”
Performing with greater confidence
Using Signal AI, the team produces newsletters that are distributed to over 1,000 people internally and 200 clients. The time it takes to find stories for thought leadership and build internal and external newsletters has reduced dramatically. But not only are the team more efficient in their work, they are also now more confident they haven’t missed a development and find news they would never have been aware of without an AI-powered tool.
They can spend more time focusing on demonstrating real value, as opposed to manually searching through websites for relevant information.
“In the past we’ve had to spend a lot of time ensuring that we did not miss anything. We can now be more confident we’ve covered everything that we want to cover.”
Time-saving AI, from a reliable partner
As Deloitte’s relationship with Signal AI grows, the team continues to see the benefits of an AI-powered solution. Not only do the team save time from manually searching, they can be confident they know what they need to know and spend more time applying their expertise on higher value activities.