Product Overview of Norm AI
Norm AI is a pioneering AI-driven platform designed to revolutionize the process of regulatory compliance by automating and streamlining the interpretation and execution of complex regulations. Founded in 2023 by John Nay, Norm AI has quickly established itself as a leader in the field of Regulatory AI.
What Norm AI Does
Norm AI converts government regulations and corporate policies into executable computer programs, leveraging large language models (LLMs) and a proprietary language to represent these regulations as decision trees. This approach enables the platform to automate compliance analyses, making the process more efficient, comprehensive, and accurate.
Key Features and Functionality
- Regulatory AI Agents: Norm AI employs AI agents that conduct robust compliance analyses by traversing decision trees derived from regulations. These agents can autonomously review artifacts, identify potential issues, and provide clear, actionable explanations for their findings.
- Automated Compliance: The platform automates the process of compliance analysis, significantly reducing the time and cost associated with manual compliance checks. For example, tasks that previously took compliance professionals days to complete can now be done in minutes.
- Continuous Updates: Norm AI continuously updates its decision graphs to reflect changes and amendments in regulations, ensuring that businesses remain compliant with the latest regulatory requirements.
- Collaboration Tools: The platform includes workflow software that allows compliance and business users to upload artifacts for review, tag each other, comment, and view historical decisions. This centralizes relevant conversations and serves as a system of record for compliance teams.
- Integration with Business Processes: Norm AI agents work alongside other AI systems to ensure that all automated business processes adhere to regulatory requirements. This integration is crucial for deploying AI in highly regulated environments without compromising compliance.
- Self-Serve Compliance: By providing proactive compliance findings and actionable feedback, Norm AI empowers business users to self-serve initial rounds of regulatory compliance reviews. This accelerates business processes while ensuring compliance, allowing teams to focus on tasks that require more human intervention.
- Industry Applications: Norm AI is particularly beneficial for industries such as insurance, investment firms, and other financial institutions, where the publication of highly regulated content is a critical task. These organizations can accelerate their compliance processes, freeing up significant bandwidth for other essential tasks.
Conclusion
In summary, Norm AI offers a transformative solution to the complexities of regulatory compliance by leveraging AI to automate, streamline, and enhance the accuracy of compliance processes, making it an indispensable tool for businesses operating in highly regulated environments.