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【2020 Application Example】 The Lawsnote compliance system uses AI technology to automate the compliance risk assessment (CRA) process and improve the compliance efficiency of companies

Trends in financial regulation

As the world pays greater attention to regulatory supervision, various fields are facing increasing compliance costs. If we were to ask what was the fastest growing field in 2020? I believe many people will think it is regulation!

The trend of strict supervision has been the most severe in the financial industry. Supervisory agencies In Taiwan, including the Financial Supervisory Commission, have imposed growingly strict supervision requirements on the financial industry, as well as heavier fines. In response to these supervisory measures, the financial industry gradually implemented new internal control and internal audit systems for compliance a few years ago, such as the assessment of regulatory risks, business units appointing compliance managers as the first line of defense, and compliance self-assessment system.

Current manual compliance process of compliance personnel

However, there is a plethora of financial-related laws and regulations, and business units have a large number of complex business manuals. Therefore, many compliance personnel of financial institutions must spend a lot of time on tedious and highly repetitive comparisons of internal and external regulations, in order to help companies avoid risks or fines due to not proposing response measures in their internal regulations when laws are amended.

Compliance staff spent a lot of time processing Changes in laws

▲Compliance personnel spend a lot of time dealing with regulatory changes

Lawsnote Compliance System Solution

As Taiwan's leading legal technology solutions provider, Lawsnote received many requests from corporate customers for a compliance system, and began to look into solutions for applying AI to compliance systems. It thus developed the Lawsnote RegTech compliance system for compliance personnel to automate parts of their work process, reducing the tedious and repetitive work of compliance personnel.

Lawsnote will adjust legal changes and internal regulations Automation

▲Lawsnote automates regulatory changes and internal regulatory adjustments

A Regulatory database, search, and notification of regulatory changes

As the basis of the RegTech system, the compliance process is triggered by "regulations", so it is necessary to have a "complete" and "real-time" regulatory database and regulatory update mechanism for specific fields.

However, regulations are not limited to "laws" enacted by the Legislative Yuan, but also include "administrative rules" and "legal orders" enacted by administrative agencies authorized by law, as well as "administrative interpretations" used to interpret regulations. These are all considered regulations that the compliance system must comply with.

There is currently no unified data source for these regulatory data. Except for the Laws & Regulations Database of the Republic of China (Taiwan), many regulations are scattered on independent webpages for regulations on the websites of different agencies, organizations, or associations, making the cost of collecting complete regulations very high.

Since laws and regulations will be amended, new administrative letters and interpretations will be issued or old ones abolished, updating regulatory changes is also a big problem. Even if complete laws and regulations are collected once, failure to continuously monitor changes in laws, regulations, and administrative letters and interpretations will also create a gap in compliance.

As a professional legal search engine, Lawsnote has a complete database of regulations and interpretations, and can send notices of regulatory changes required by various fields in response to the needs of compliance systems.

B1. Internal regulations database and search

Internal management by companies through regulations are called "internal regulations." General types of internal regulations include company internal regulations, standard operating procedures (SOPs), and business instruction manuals. Depending on the intensity of industry-specific supervision, the number and density of company internal regulations will vary depending on the industry.

In industries with high supervisory density, the number of internal regulations sometimes reaches thousands or even tens of thousands. With such a huge number of internal regulations, paper or simple filing systems can no longer meet the internal needs of enterprises. The process of searching for and complying with internal regulations might require a significant amount of time and personnel costs if an internal regulations database and search engine are not establish.

Lawsnote has Taiwan's most powerful legal information search engine, patent search technology, and uses AI to optimize its sorting algorithm. It can establish an "internal regulations database"for internal data, such as company internal regulations, SOPs, and instruction manuals, and applies search engine technology to the internal regulations database, achieving a fast, complete, and easy-to-use internal regulations database and search engine.

B2. <Regulations – Internal Regulations> Article-to-Article Linking Mechanism

When regulations are revised, the company's internal regulations must also be inspected and adjusted accordingly.

The company's internal regulation inspection procedures may be initiated by compliance personnel based on regulatory amendments, or may be initiated by the compliance officer of the business unit (the first line of defense), and then reviewed by compliance personnel (the second line of defense). However, regardless of which unit initiates it, the difficulty lies in finding the article of internal regulations that correspond to the amended article of the law to determine whether amendments are necessary.

Due to the large number of internal regulations, complicated terms, and the different forms of business involved, if internal regulations must be reviewed every time laws and regulations are revised, it will consume a huge amount of time. Therefore, compliance personnel usually rely heavily on experience and aim to minimize risk within limited time.

Moreover, due to the way internal regulations are written, often using different methods to significantly rewrite and break down laws and regulations, making comparison very difficult for programs. If the existing program is used to compare internal and external regulations, many internal regulations cannot be effectively determined.

After research and testing, Lawsnote designed 3 AI algorithms and 4 rule-base algorithms for cross-comparison, which can establish article-to-article links between thousands of regulations and company internal regulations, helping compliance personnel to immediately determine the necessity of revisions to internal regulations when regulations are revised, significantly saving review time and reducing compliance and internal control risks.

C. Internal control and internal audit self-assessment process for compliance

In order to ensure that the compliance officer of business units properly carry out the compliance process, some companies will implement mechanisms such as compliance self-assessment and compliance education, and require the compliance officer of business units to conduct self-assessment of internal control and internal audit processes and review existing risks.

Compliance personnel or auditors must summarize self-assessment results, or prepare a risk matrix to monitor compliance risks and track vulnerabilities.

The Lawsnote RegTech compliance system supports expanded workflow solutions, which can extend the workflow to the compliance self-assessment process, customize the integration of the current system and compliance system, and merge the organizational structure and SSO permission control mechanism to create a one-stop compliance system.

Three core modules of Lawsnote legal compliance system Group

▲Three core modules of the Lawsnote compliance system

Incorporates foreign regulations and is the number one compliance tool for companies

Lawsnote will continue to optimize regulatory text parsing and identification technology. In addition, we will also develop other legal technology application tools and become the number one compliance tool for enterprises with all-inclusive services. In addition to domestic regulations, Lawsnote will also incorporate foreign regulations into the system, so that multinational companies in Taiwan can access information on domestic and foreign regulations.

Lawsnote has always focused on AI applications, data mining, algorithm design, search engines, and workflow optimization in the legal field, and is committed to saving the time of legal professionals through technology.

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【導入案例】無人智慧販賣機 黑沃咖啡一分鐘打造精品咖啡
Unmanned Intelligent Vending Machines - Black Wo Coffee Creates Boutique Coffee in a Minute

Technology also carries the aroma of coffee Situated on Gaogong Road in the Southern District of Taichung, the original Black Wo Coffee store covers a space of 28 ping, filled with the scent of coffee mixed with cultural creativity and technology Since its establishment in October 2016, Black Wo Coffee has expanded to 7 directly managed stores and 28 franchise stores across Taiwan Among the 15,000 coffee sellers nationwide, Black Wo Coffee has risen uniquely through the use of AI technology to create an unmanned intelligent vending machine that brews exquisite and aromatic coffee in just one minute Black Wo Coffee's physical store creates a culturally creative and fashionable atmosphere Image Black Wo Coffee official website According to the International Coffee Organization ICO, Taiwanese people consume 285 billion cups of coffee annually, with the market size exceeding 70 billion NT dollars Ambitiously, as per Starbucks' survey, by 2018 the overall Taiwanese coffee market reached 72 billion NT dollars and rose to 90 billion by 2020 Over the last five years, the Taiwanese coffee market has expanded annually by about 20, showing remarkable growth potential Coffee demand presents incredible business opportunities, growing at a rate of 20 annually With coffee now being a symbol of fashionable consumption in Taiwan, aside from first-tier coffee shops like Starbucks and Louisa, there are convenience stores like 7-11 and FamilyMart, and numerous boutique coffee houses scattered through the streets and alleys How to capture consumer attention and stand out in the 'red ocean' of the coffee market requires flexibility and creativity, understanding consumer needs and tastes, which are also essential for cultivating brand loyalty Beyond physical storefronts, Black Wo Coffee is also actively developing digital channels Its ecommerce platform includes the official website, PChome, momo, and group-buying hosts, providing multiple channels and ensuring steady growth in performance Even so, the founder of Black Wo Coffee, Lin Pei-ni, continually seeks innovation Due to the passive and scattered situation with franchise stores in the first three years, it was difficult to actively grasp market trends and the company noticed a certain lag in communicating with consumers and keeping up with brand dynamics, making it challenging to cultivate loyal brand advocates Artisan boutique coffee is deeply beloved by consumers Image Black Wo Coffee official website Through the AI Eagle Eye System, market intelligence costs are significantly reduced To address the dual challenges of not being able to quickly capture market trends and high market research costs, Black Wo Coffee introduced the AI Eagle Eye System in 2020 to scout market intelligence By comprehensively crawling articles from social websites, news platforms, and forums, automatically tagging, and suitably filtering, this system scanned 4,858 articles using 24,290 keywords, enabling precise insights into consumer preferences at minimal costs At the same time, after launching new products, not only can franchise stores be notified promptly, but the acceptance level of consumers can also be assessed through social platforms It serves as a reference for whether to promote aggressively Through the collection of data and analysis by AI algorithms, consumer-preferred flavors are selected, reducing the risks associated with new launches and increasing the success rate of new products Therefore, in 2021, Black Wo Coffee boldly explored new markets by introducing the world's first AIoT smart coffee innovative concept in collaboration with Pxmart for the first 'Intelligent Supermarket', integrating Black Wo Coffee to create an unmanned intelligent hand-drip coffee machine for consumers to enjoy a unique flavor experience Insight into consumer tastes leads to the creation of AIoT Unmanned Intelligent Vending Machines Taiwan's first Pxmart 'Intelligent Supermarket' in Neihu, Taipei introduces the world's first AIoT smart coffee concept store, able to interact with the AI smart coffee vending machine, AI hand-washing coffee machine, and AI vacuum cold brew machine through a mobile app, meeting three different coffee technology experiences in one place The self-service area features the only unmanned intelligent coffee vending machine in Taiwan that uses chilled milk to make milk foam, selecting Black Wo's 5A grade milk, and completing the payment, grinding, and brewing all within one minute The first Pxmart 'Intelligent Supermarket' was established on Ruiguang Road in Neihu District, Taipei Image Pxmart FB fan page The Pxmart Intelligent Supermarket features an AI smart coffee vending machine, which is operated using an app to enjoy aromatic coffee Image Pxmart FB fan page Now, with the addition of AI technology elements, drinking coffee is not just about having coffee it also brings more brand-new tech experiences and conveniences to consumers「Translated content is generated by ChatGPT and is for reference only Translation date:2024-05-19」

【導入案例】化身大型AIOT科技遊樂場 海科館華麗轉身好吸睛
Transforming into a Large-Scale AIoT Technology Playground: The Spectacular Makeover of the National Museum of Marine Science & Technology

Taiwan is a maritime nation When you visit the Badozi Fishing Port or Tidal Park in Keelung, do you also explore the mysteries of the ocean world at the 48-hectare National Museum of Marine Science amp Technology To get more people closer to marine technology, Keelung's Marine Museum has introduced technological services, transforming the venue into a large technology playground that delights both children and adults, fully utilizing the 'learning through play' approach After a lengthy planning process, Northern Taiwan's largest marine science museum in Keelung opened in January 2014 The museum focuses on marine education and technology, boasting Taiwan's largest IMAX 3D ocean theater The unique themes and modern viewing facilities should make it a well-known landmark in Keelung However, the original exhibition planning was static and highly specialized, lacking sufficient interaction with the public Visitors who have attended the museum also reported that the exhibits were limited and quite boring, leading to poor overall consumer experience ratings The top three dissatisfactions with the museum were weak connections to surrounding attractions, unengaging display content, and lack of exhibit material According to statistics from the Marine Museum, the ratio of local to visiting guests is approximately 64, with most foreign visitors coming from the north transportation is primarily by car and bus common types of visits include family, parent-child, and friends and the stay duration is generally 1 to 2 hours Upon deeper investigation, the top three visitor complaints were weak linkages to surrounding attractions, unengaging display content, and insufficient number of exhibits The museum analyzed potential reasons, including some displays being too specialized, making it difficult for the public to understand, and a lack of interactive elements, making the exhibition boring and the visit hurriedly brief Analysis of visitor profiles revealed that since half of the museum's visitors are locals, and accessing the museum is not so easy for out-of-towners who must travel by car or public transport, the design of the venue and exhibitions must incorporate more interactivity and intrigue to encourage locals to return and extend the duration of visitors' stays while using technological services to highlight the museum's unique features Through a recommendation from the Information Software Association, part of the Ministry of Economic Affairs' Industrial Bureau AI team, the Marine Museum commissioned Jugu Technology to resolve the issue of uninspiring venue attractions Preliminary interviews by Jugu Technology revealed that many visitors were attracted by the architectural design of the museum, notices posted on nearby walls, flags, or events being held the most interesting feature for visitors was the 3D ocean theater, indicating that content presented through audio-video and physical scenic methods was more engaging Seven major AI technologies lead to a boost in regional tourism at the Marine Museum Through the introduction of technology services, Jugu Technology designed the 48-hectare site with seven major services AI voice tours, treasure hunt puzzle games, AI exhibit interactive revitalization, AI space exhibition interactive experience, AI crowd control, Face AI interactive experience, and AI voice customer service system By utilizing AIoT and cloud technology, they made the exhibition more interesting, not only solving the issue of boring static viewings for children but also doubling the learning efficiency and dramatically improving public perception of the Marine Museum, thus increasing visitor intent and boosting regional tourism The National Museum of Marine Science and Technology introduced seven major technological application services including AI voice guide Jugu Technology aimed to improve the space optimization of the Marine Museum, using the special exhibition of coastal birds in northern Taiwan as a prototype, integrating 'face', 'limb', 'crowd' as three main axes to enhance functionality and assist in improving the museum's application of AI Practically, the Marine Museum and Jugu Technology selected the on-site special exhibits to avoid any installation of water and electricity works or pipelines in active exhibits, thereby maintaining the quality of the viewing experience Instead, they selected exhibits that were not yet open to introduce a series of technological services tailored to the unique characteristics of the exhibits In the coastal bird special exhibition inside the Marine Museum, initial construction discussions with the curators utilized Bella X1 for a welcoming interactive introduction at the exhibition entrance This was followed by an AI-powered smart guide in both Chinese and English using X1 for narration, coupled with a fun treasure hunting stamp-collecting activity - APP X1, allowing visitors to participate in challenges Subsequently, bird species within the bird exhibition were brought to life interactively using X1, and AR scenarios X1 were introduced into the exhibition space to add elements of fun and entertainment Finally, Face AI was used to interactively test facial expressions and score smiles The gorgeously transformed Marine Museum will become the best travel destination for families with children ImageMarine Museum FB Page The AIoT services introduced by the Marine Museum could be extended to various exhibition-type museums and even static art galleries in the future, tailored to the unique characteristics of different venues They could also be promoted through government projects and related plans, aiding in rural revitalization, making visits more than just sightseeing in rural areas, and breaking free from stereotypes associated with different venues The applications of these services are broad「Translated content is generated by ChatGPT and is for reference only Translation date:2024-05-19」

【解決方案】優式AI智能割草機器人 搶攻高爾夫藍海市場
USRROBOT's AI Lawn Mowing Robot Enters the Blue Ocean of Golf Market

An AI smart lawn mowing robot, resembling a vacuum robot, shuttles back and forth on the 30-hectare golf course lawn for weeding This robot, independently developed and designed by Taiwanese, is equipped with the world's first electronic fencing positioning technology which utilizes high-precision GPS integrated with cloud AI computation to determine the most efficient mowing paths, targeting the lucrative blue ocean market of golf courses This AI lawn mowing robot was developed by USRROBOT, a Taiwanese startup established in 2019 Chao-Cheng Chen, the president of USRROBOT, once served as the executive vice president of one of the top five ODM tech companies in Taiwan, and specializes in software and hardware integration When he served as the chairman of the Service Robot Alliance, he knew that the service robot industry was bound grow rapidly due to declining birth rates and the growingly severe labor shortage New demand - The horticulture market is large and the has rigid demand "To develop the core technology of service robots, we must find rigid demand Looking at European and American countries, there is a shortage of labor, but demand for horticulture has increased, and there has been a long-term shortage of 7-10 of horticultural workers" Under this strong "rigid demand," Chao-Cheng Chen established USRROBOT, and the company's first product is the AI lawn mowing robot In terms of overseas markets, the United States is the world's largest horticulture market, accounting for 30-40 of the global output value It is estimated that there are about 1 million horticulture workers, but they have been experiencing a labor shortage of 7-10 in recent years and have not been able to improve the situation The main reasons for labor shortage are Aging population and gardening is a labor-intensive job, so young people don't want to do it Unlike in Taiwan, European and American countries attach great importance to lawn maintenance and have expressly stipulated in the law that heavy fines will be imposed for failing to mow the lawn Therefore, the AI lawn mowing robot has considerable market development potential The introduction of AI multi-device collaborative mowing sensor technology is expected to reduce the burden of staff maintaining the golf course The AI lawn mowing robot developed by USRROBOT is currently in its second generation Domestic universities and well-known art museums are using the latest model M1, and it is also being used by some world-renowned high-tech companies and well-known universities in the United States The company is currently involved in negotiations for subsequent business cooperation USRROBOT stated that the professional RTK system currently used can reduce the original GPS positioning error from tens of meters to about 2 centimeters, allowing the robot to move accurately outdoors After setting the boundaries, it can be easily operated using the app New application - Implementation in golf courses solves the problem of labor aging and shortage Chao-Cheng Chen further explained that the National Land Surveying and Mapping Center is a RTK service provider RTK provides the error reference map of the positioning point USRROBOT can access the positioning error value of a specific position through 4G Internet access The AI algorithm of USRROBOT reduces the general 10-20 m error of GPS to 2 cm After positioning, USRROBOT then uses six-axis accelerator positioning, gyroscopes, and wheel differential sensing devices for software and hardware integration Only by matching the wheel's movement pattern and the terrain can accurate mowing path planning be achieved The AI lawn mowing robot, which is 62 cm wide, 84 cm long, 46 cm high, and weighs only 25 kg, can set the mowing boundaries in the cloud It can avoid pools and sand pits through settings, using AI algorithms to automatically calculate the optimal path It is able to mow approximately 150 ping of grass in one hour The battery can be used continuously for more than 6 hours The battery life is currently the highest in the world In addition to general gardening companies, with the assistance of the AI project team of the Industrial Development Bureau, Ministry of Economic Affairs, USRROBOT's AI lawn mowing robot has been applied to golf course lawn mowing A well-known golf course located in Taiping District, Taichung City currently has a staff of 5 people who are responsible for the lawn, planting maintenance, and other landscape maintenance of the entire 30-hectare course However, the average age of staff is as high as 55 years old, and the golf course has been unable to recruit new staff members for a long time In view of the aging staff and the shortage of manpower, the golf course hopes to mitigate the impact with AI technology, and is therefore using AI multi-device collaborative mowing sensor technology, in hopes of reducing the burden of staff maintaining the golf course New challenges - Expert systems are needed to overcome difficulties with different grass species "This AI lawn mowing robot has low noise, low pollution, low labor costs, and is waterproof and anti-theft In the lawn mowing process, it can identify and avoid obstacles through ultrasonic sensors while maintaining mowing quality, maintaining aesthetic and consistent grass length" Chao-Cheng Chen went on to say that the most important part about golf courses is that the grass pattern should be beautiful and free from diseases and pests Based on the site survey, golf courses are mainly divided into three major areas green, fairway and rough There is no problem using the current mowing robot to mow the rough area, and it can overcome slopes within 20 degreesThe short grass in the fairway area may only be two centimeters long, and the grass types are also different, so the cutterhead design needs to be modifiedAs for the grass in the green area, the grass must be mowed close to the ground and maintained in a consistent direction because it affects the putting speed Many factors will affect the green index, and this part requires more research and testing The AI lawn mowing robot can identify and avoid obstacles through ultrasonic sensors while maintaining mowing quality The AI smart lawn mowing robot has a built-in camera that can be used to detect the health condition of the lawn Chao-Cheng Chen said that in the future, an expert system will also be introduced for early determination of whether there are diseases, pests in the lawn or whether there is sufficient moisture, and provide lawn health data analysis to customers, so that they can take preventive and response measures sooner to reduce disaster losses Chao-Cheng Chen, who is also a good golfer himself, said that golf has developed well in Taiwan However, due to weather factors, such as rainy and humid climate and typhoons, Taiwan's golf courses have harder soil and more potholes compared with top tier golf courses overseas If AI lawn mowing robots are to be widely introduced into golf courses, there are still many difficulties that must be overcome However, Taiwan's difficult terrain creates a good testing ground Once Taiwan can overcome the many problems and successfully introduce the robot, it will be able to expand to overseas markets and seize new market opportunities in a blue ocean Chao-Cheng Chen, President of USRROBOT nbsp