
Descartes Helps Reduce False Positives with AI-Enabled Denied Party Screening Solution
'While it makes sense to cast a wide net with screening, false positives are a costly drag on time, accuracy and compliance performance,' said Brian Hodgson, General Manager, Trade Compliance at Descartes. 'AI Assist significantly reduces low-quality false positives while managing the risk of true hits. With compliance, AI needs to be 'risk-aware,' meaning it needs to deliver the tremendous value of AI without increasing the risk of violations. With AI Assist, for some customers, the combination of automation in collaboration with human oversight has helped reduce false positives to just fractions of a percent, even with large screening volumes. This is a significant gain in productivity for compliance resources who can be overburdened with irrelevant alerts.'
Descartes Visual Compliance is a cloud-based solution for export, financial and trade compliance, including restricted and denied party screening. The solution includes comprehensive watch list and regulatory content from the U.S. as well as the EU, APAC and EMEA regions. Descartes Visual Compliance helps companies of all sizes in diverse industries, such as aerospace, financial services, retail, manufacturing, education, transportation and defense, better navigate the ever-changing, complex world of foreign trade compliance by streamlining workflows, mitigating business risk and enhancing overall compliance.
'With the increase in global trade regulations and the substantial volume of information that flows through international commerce, having effective screening without overloading trade compliance resources with false positives is essential,' said Ken Wood, Executive Vice President, Product Management at Descartes. 'To help businesses with this persistent challenge, our AI innovations accelerate the review and adjudication of screening results with intelligent filtering, flexible control and human-centered quality assurance, which enhances compliance levels while reducing labor effort.'
Key capabilities of Descartes Visual Compliance AI Assist include:
Learn more about Descartes Visual Compliance AI Assist and Descartes' Global Trade Intelligence solutions.
About Descartes
Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world's largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.
Global Media Contact
Cara Strohack
Tel: 226-750-8050
[email protected]
Cautionary Statement Regarding Forward-Looking Statements
This release contains forward-looking information within the meaning of applicable securities laws ('forward-looking statements') that relate to Descartes' global trade intelligence solution offerings and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, 'Certain Factors That May Affect Future Results' in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes' most recently filed management's discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
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