BAKU, Azerbaijan, October 20. Artificial intelligence (AI) agents accelerate the analysis of risks associated with financial transactions, thereby saving time for professionals working in compliance and risk management, Managing Partner and Founder of Formica AI, Özgür Oktan, said at the Sustainable Business, Corporate Governance, Risk, and Compliance (GRC) Conference in Baku on Tuesday, Trend’s correspondent reports from the event.
He noted that the development of generative artificial intelligence and large language models (LLMs) has significantly amplified the impact of these technologies on both daily life and business processes.
According to Oktan, while AI was previously associated primarily with statistical and mathematical models, forecasting, and the analysis of various indicators, the emergence of large language models has expanded the capacity of systems to generate responses tailored to user queries.
"The integration of large language models into our lives over the past year is one of the primary reasons why artificial intelligence is now reaching everyone," he remarked.
The company representative mentioned that Formica AI utilizes generative AI technologies and serves over 70 clients across Uzbekistan, Kyrgyzstan, and the UK. Through a unified application, the company provides support to its clients in areas such as risk and fraud management, compliance, and the assessment of customer risk levels.
He also touched upon the capabilities of AI agents. He explained that these agents are software systems capable of performing specific tasks independently. They can automate routine processes such as shopping, making payments, and booking restaurant reservations.
Oktan noted that the application of AI agents in the fields of risk management and GRC is also expanding. These technologies not only reduce the workload of employees but also facilitate faster data analysis.
"The greatest benefit of these agents is that they save time for compliance and risk management professionals. The goal is not to make decisions on their behalf, but to enable employees to work more efficiently," he emphasized.
According to the company representative, AI agents can execute tasks in a coordinated manner by distributing various responsibilities among different agents. This accelerates the analysis of complex operations.
He noted that, under normal circumstances, manually reviewing a financial transaction and comparing it against past transactions can take 15–20 minutes. An AI agent, however, can analyze the same transaction in 5-10 seconds and provide an initial assessment as to whether it is appropriate or potentially risky.
Oktan added that the implementation of such technologies enables the more rapid identification of risks, the automation of compliance processes, and allows specialists to focus their attention on more complex issues.