LONDON, May 22, 2024 (GLOBE NEWSWIRE) -- Kim (www.kimdocument.com
(http://www.kimdocument.com)), the no-code, SaaS, patent-protected document
generation, assembly, and workflow automation platform, has launched an 'AI
Technology Use and Compliance Application' to help organizations satisfy their
regulatory requirement to explain how they are using Artificial Intelligence
(AI) in their day-to-day business.
On April 22, 2024, the Financial Conduct Authority (FCA) and the Bank of England
(BoE) (including the Prudential Regulation Authority (PRA)) published updates on
their approach to the firms' use of AI. All firms will need to be able to
explain their use of AI to their regulators. This will involve explaining how
risks associated with the deployment of AI have been identified, assessed, and
managed. Put simply, when asked by their regulator, firms will need to explain
their approach to managing the risks associated with AI.
Kim has configured an 'AI Technology Use and Compliance Application' as part of
its suite of tools for compliance functions in law firms, accounting practices
and financial services businesses. This webform application helps firms:
1. Assess and manage risks;
2. Log and record their AI use;
3. Report to internal board, governance and audit committees;
4. Satisfy external compliance and regulatory requirements and
5. Have an audit trail of reviews and updates.
The Kim Application is divided into two sections. The first tab is 'Firm
Overview,' which covers the firm's general approach to using AI. The second tab,
'AI Tools Used,' allows the firm to confirm which AI tools are being used and
for what purpose.
Samantha Jefferies, Kim's VP of Sales, explains, "This application is available
to all existing customers now. They import it into their instance of Kim and use
it. They can then complete the firm details and update them as required so they
are always available for internal/external audit purposes.
It's a living document that needs to be completed every time a new AI tool is
onboarded or the firms' approach to the use of AI changes. Whenever the Kim
Webform is submitted, it automatically updates and version controls the document
(Word and/or PDF) for audit and internal and external reporting purposes,
ensuring the most up-to-date information is always at your fingertips."
Using Kim could not be simpler. Once any application (Kim Webform) is created
using Kim's no-code wizard, it is published. When a user clicks on the webform
link, which can be sent by email or embedded in an existing system like
SharePoint, Salesforce, ServiceNow, Workday, Monday.com, etc., the webform
appears. The user fills it out, and the data is captured. Kim creates the record
from which it can generate one or more documents and reports and/or update other
systems.
Kim's Campaign functionality also allows efficient one-to-many communication for
compliance and other teams. Upload and create the Kim Webform you want
completing once, send it to multiple recipients, and receive responses and data.
By incorporating personalized campaign creation, reminders, and comprehensive
tracking and reporting, this feature ensures that compliance, data collection,
and information sharing are achievable and streamlined for optimal efficiency. -
see https://info.kimdocument.com/campaign-functionality.
For further information and to request a Kim demonstration, please contact Becky
Roberts: rebecca.roberts@kimtechnologies.com
(mailto:rebecca.roberts@kimtechnologies.com)
About Kim
Kim is a no-code, SaaS, patent-protected document generation, assembly and
workflow automation tool. Kim's Enterprise solution is proven with Fortune 500
organizations in legal, compliance, contract management, company secretarial,
office productivity and other functions.
Kim's Business tier allows any function or role in small, medium or large
organizations to take their existing Word documents and automate them plus turn
them into web applications that can be shared internally and/or externally. It
automates letters, forms, records, checklists and contracts in minutes, with no
training, integrates seamlessly with MS Teams, and is accessible from any
browser.
Kim has two patents. (see 'Patent Headlines' section and the Kim patent: see https://patents.justia.com/patent/10817662).
For more information visit www.kimdocument.com (https://www.kimdocument.com/).
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