Meet Anand Chavan - Founder and CEO
Tell us a little about your organization and why you got into this space.
At GuardX, we help companies extract actionable insights from unstructured data. Our product, Foreseer, is a cloud-native, human-in-the loop platform that combines the latest advances in AI/ML algorithms and NLP to extract insights from unstructured documents including PDFs, HTML, webpages, scanner documents, twitter feeds, emails and more at enterprise scale. Our Fortune 500 clients process over twenty million PDF and HTML pages every month with content sourced from 35 countries in 12 different languages.
Who are your clients and what types of regulatory challenges are they facing?
We have clients in Financial Services, Insurance, Market Intelligence industries, etc. Our clients need to extract data and insights from a large variety of unstructured data sets. They tend to use manual processes to consume data and have issues with accuracy, auditability and operational controls. Most clients use automation in silos and often do not have one robust, enterprise-wide solution to extract data and insights from unstructured documents. Client on-boarding, KYC and AML are some challenges we help solve with Foreseer. Traceable corporate action data, issuances, debt and pension obligation data collection from filings are other areas where we help answer regulatory challenges for our clients.
What type of emerging technology do you think will have the greatest impact on your business/industry?
As the amount of data continues to grow, the need to consume and aggregate data is also evolving at a rapid pace. Although there have been attempts to automate the data extraction and consumption from unstructured data using RPA and customized solutions, nobody has actually been able to scale the processes. The combination of human in the loop and AI/ML should have a massive impact on this area in the near future. We already see Google suggesting questions in some search results. If the regulators and data providers are able to systematically consume large amounts of unstructured data, it will open many unexplored avenues.
Why did you join the CRTA? How do you think the CRTA will help your business/industry?
We anticipate big changes in the regulatory landscape because of the increasing use of advanced AI/ML techniques. We want to make regulatory reporting transparent, auditable and much more powerful by providing actionable insights from unstructured data at scale. The CRTA is the perfect platform to connect with financial institutions and explore applications of Foreseer in the RegTech space.