FiscalNote (NYSE: NOTE) Launches AI-Driven Risk Connector To Determine And Predict Risk Up To Five Layers Deep
Detroit, Michigan
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October 19, 2023 09:25 AM Eastern Daylight Time
By Jad Malaeb, Benzinga
FiscalNote Holdings Inc. (NYSE: NOTE), a leading technology provider of global policy and market intelligence, has introduced the groundbreaking FiscalNote Risk Connector. This innovative solution harnesses FiscalNote's data prowess and AI capabilities to empower large enterprises in both public and private sectors, allowing them to foresee, comprehend, measure and monitor risks originating from their operations and expansive network of associations. The focus is broad, encompassing not only supply chains but also customers, investors, partners and other vectors where risks might manifest.
In today's rapidly evolving landscape, both private and public sector supply chains and operational profiles are developing unprecedented complexity. Major enterprises, including corporations and military organizations, navigate intricate legal, regulatory, political and economic terrains while engaging an ever-expanding web of suppliers and collaborators on a global scale. Predicting and managing the vast array of potential risks that can severely impact revenue, brand reputation, military readiness and overall operations poses a significant challenge.
FiscalNote Risk Connector, fueled by proprietary and forward-thinking AI technology, equips decision-makers in large enterprises with the essential 5 "As" crucial for operational risk mitigation. This cutting-edge analytics and information platform ensures that the risk assessment process is:
Automated, mapping stakeholders within minutes;
Always-On, constantly tracking and flagging risks in third-, fourth-, and fifth-party relationships;
Anticipatory, providing early warnings of risks that have not yet materialized;
Auditable, offering a detailed data trail down to individual documents where risks were detected; and
Accessible, integrating seamlessly into a company's risk management framework through various channels.
With these invaluable insights, companies can promptly assess the potential risks associated with engaging specific entities. FiscalNote Risk Connector stands out by providing a comprehensive mapping of relationships and real-time risk detection, accompanied by a fully auditable data trail. For instance, leveraging this powerful tool could have forewarned stakeholders of Silicon Valley Bank's vulnerabilities well in advance of its eventual collapse. Similarly, military and government entities, reliant on complex and regulated supply chains amidst geopolitical tensions, could have utilized AI-driven insights to comprehend shifting supply chains and operational risks ahead of the war in Europe, ensuring the continuity of government objectives.
Josh Resnik, President and COO of FiscalNote, emphasizes the imperative need for technology to anticipate and manage potential adverse impacts stemming from operational risk. Operational risk has evolved into a multifaceted "field of unknowns," capable of triggering a dangerous cascade of ramifications without proper anticipation and management. FiscalNote Risk Connector unveils the intricate associations between customers and their connections, predicting risks up to five layers removed.
Over the past decade, FiscalNote has been collaborating with a diverse array of global customers in the public and private sectors, addressing risks across multiple dimensions such as regulatory, geopolitical, economic, and security. FiscalNote Risk Connector stands as a natural extension of this expertise, presenting a remarkable market expansion opportunity for governments, corporations and other organizations grappling with risk exposure.
The modern global supply chain has witnessed a surge in complexity, leading to increased instances of disruptions that come at a substantial cost. Companies face additional burdens from geopolitical and operational risks, further escalating costs. The manufacturing sector, for instance, has witnessed mounting costs due to geopolitical risks, affecting global revenues. National security, especially pertaining to military supply chains, is at risk due to disruptions – prompting an urgent need for comprehensive visibility and proactive planning.
For more information on FiscalNote Risk Connector and how it's revolutionizing risk management, please visit the FiscalNote Risk Connector webpage.
This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice.
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