Text IQ is a cutting-edge technology company that harnesses the power of Artificial Intelligence (AI) and people to prevent legal and compliance disasters across industry sectors. The company recently launched The Inevitable, an invite-only summit, that was attended by Fortune 100 executives and leading researchers to discuss AI’s evolving role in protecting highly-regulated enterprises. The announcement was made by Apoorv Agarwal, the company’s Co-Founder and CEO.
“AI is inevitably and fundamentally changing the way businesses function. The Inevitable was born out of the understanding that when humans and machines work together, they work better. Artificial intelligence is improving daily, allowing legal, compliance, and executive teams to make sophisticated, extraordinary leaps forward in legal and compliance disaster prevention,” added Agarwal.
Over the past decade, data volumes have doubled every year. The Inevitable addressed the insurmountable challenges that this explosion of data has created in areas such as Antitrust, General Data Protection Regulation (GDPR), Anti-money laundering (AML), Foreign Corrupt Practices Act (FCPA), sexual harassment, employee discrimination, internal investigations, civil litigation, audit, law enforcement, and anti-terrorism. Billions of dollars are spent each year on regulatory compliance, litigation and risk management, stemming from digital data, including emails, documents, phone calls, and instant messaging.
“Despite an array of computer-assisted tools companies today still must hire armies of human reviewers to weed through minute details found in millions of digital files. Text IQ brings the power of AI to the difficult legal and compliance issues of big organizations. Moreover, Text IQ’s founders are committed to the responsible implementation of AI the legal and compliance arena,” said Randy Milch, former General Counsel of Verizon Communications, who attended The Inevitable.
“Today’s summit highlighted a lot of important challenges that our society is facing, which wouldn’t be possible to solve without the leaders in this room coming together to have an open, honest discussion about the very real future that is quickly approaching. The Inevitable is about something much bigger than Text IQ, and we are looking forward to continuing the discussion at The Inevitable 2.0 in 2018. This is only the beginning,” Omar Haroun, the company’s Co-Founder and COO stated.