Kim Launches Firms ‘AI Technology Use and Compliance Application’
22 May 2024 - 10:12AM
Kim Launches Firms ‘AI Technology Use and Compliance
Application’
Kim
(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:
- Assess and manage
risks;
- Log and record their
AI use;
- Report to internal
board, governance and audit committees;
- Satisfy external
compliance and regulatory requirements and
- 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
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.