Smarsh has announced the development of an AI-powered Intelligent Agent, which it will begin selling as an add-on product to fully integrate with its enterprise behavioral monitoring platform in 2025.
The company is a leading provider of electronic capture, archiving, surveillance and discovery of digital communications 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 screening and is designed to work across 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 is being built by our in-house team and in partnership with the financial services firms that are working with us on the design,” he wrote.
The Intelligent Agent will integrate with existing compliance workflowsrelying 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 also, according to Smarsh, should be able to proactively screen less important communications before they also need review.
In other words, the AI agent is meant to mimic 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 the noise to find real risks when reviewing firm communications data.
Smarsh's Intelligent Agent will be available to a select group of financial services customers initially as a beta in early 2025, with general availability sometime later in the year.
The cost of the final product is pending.
“We are finalizing an additional pricing structure with our customers that reflects fair market value and the benefits of the technology,” Carl wrote.
In July, the company announced that 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 intended to simplify the ChatGPT Enterprise data synchronization process in support of compliance-related activities, particularly for the financial services sector, including archiving, audit trails, data editing and storage, and policy enforcement , meaning companies using ChatGPT Enterprise will be able to easily sync their data with Smarsh's compliance features and tools.
The company is claiming the Intelligent Agent product as another industry first, being the original firm that introduced 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 natural language processing and machine learning technology for analyzing written and spoken communication data.
Other firsts claimed by Smarsh include the introduction of transcription-powered voice surveillance, model governance, multilingual discovery capabilities, and manufactured AI, among other tools.