AI launched for risk management and compliance

6clicks, a cloud-based platform built to automate inbound, outbound and internal risk assessments for cybersecurity, modern slavery and other risks, has introduced a new artificial intelligence (AI) engine that will underpin the 6clicks platform.

Created as a result of PhD-led research and development, Hailey will now play an integral role in reducing the cost and complexity of compliance.

The initial release of Hailey is focused on reducing cost and speeding up what has been a traditionally laborious process: identifying and managing the overlap of obligations that exist across different standards, laws and regulations.

The company said that while software designed to try and streamline compliance processes has existed for decades, they have typically fallen short. Now, advancements in AI, data management and hyper-scale computing have enabled 6clicks to offer its new solution customers and their advisors.

The company demonstrated Hailey’s abilities across a wide set of security standards, digesting and mapping hundreds of pages of requirements in minutes. From there, Hailey began making comparisons, such as uncovering mappings between common requirements within ISO 27001 and NIST CSF, that were originally not considered by experts.

As regulators increase their focus across many jurisdictions and businesses need to reduce the cost and complexity of compliance, 6clicks says Hailey spells the end of the admin burden for risk and compliance practitioners.

6clicks is currently working through arrangements with a select number of customers and service providers to be involved in trials.

6clicks chief executive Anthony Stevens said: “When we think about the time and cost involved in managing compliance, there is a massive opportunity to improve.

“Hailey now gives all of us a gateway to forever realise the ability to save money and improve compliance outcome.”

This is only stage one of embedding Hailey across the 6clicks platform, with more AI-related announcements coming soon. Stevens said he believes the opportunity to “read and understand the current and imminent risk, compliance and cyber needs is the key to better quality across all industries.”