Bots, Beacons and Wearables: Futuristic Compliance Management is Here

Many of us work alongside technology. It could be as simple as the Keurig that makes your coffee, or as complex as the algorithms that track occupational hazards. Take ROSS for example. ROSS is the world’s first AI lawyer. It uses the supercomputing power of IBM Watson to comb through huge batches of data and, over time, learn how to best serve its clients. If ROSS’s AI software power can handle bankruptcy cases, that means more technology like this is on the horizon for like-minded industries.

The Environmental, Health and Safety (EHS) industry, for example, already has many advanced compliance and risk management software providers, like Gensuite, using computer-based analytics to track and prevent workplace incidents and enhance sustainable efforts. Thus bots, beacons and even wearable technology for futuristic compliance management is here and rapidly evolving.

Bots and Artificial Intelligence

Forbes contributor and risk management expert, Steve Culp, points out that “the financial services industry has undergone sweeping change over the last eight years – managing waves of regulatory, customer, technology, competition and market challenges.” Many financial service firms address their risk management challenges with robotics. Robotics delivers increased accuracy and control by standardizing tedious, manual tasks, such as auditing expense reports and handling inquiries or disputes. In financial risk management, robotics helps identify and explain changes in risk exposure and determine data-related or business-related causes for such movement. All of this frees up compliance employees to do more high-value and interesting work, while reducing enterprise-related costs. Many companies continue to make investments like this for the future for these reasons.

Gensuite’s EHS mobile software already harnesses the power of datamining, analytics and regulatory reporting to track and simplify compliance processes for a multitude of industries. But what if you had a digital assistant to help you create records – concern reports, action items, or even accident investigation summaries? Or what if you could use “bots” to perform digital tasks, such as running routine reports and delivering them straight to your inbox with some initial analytics already performed? Gensuite has been tracking the boom in interactive technology to explore these kinds of concepts which have the capacity to change the way we interact with data and spend hours of our workdays.

Beacons

Similar to bots and AI, beacons are not only a thing of the future, but a thing of the now – and they are working their way into EHS compliance management just the same. What is a beacon you ask? Beacons are devices that communicate with your smartphone, tablet, or other mobile device. When placed in a set location, beacons use Bluetooth technology to detect nearby smartphones and (typically) send them media, such as ads, coupons or supplementary product information. They can also be used as point-of-sale systems, and to collect information on consumers to push into “the cloud” — particularly how consumers maneuver through stores or industrial warehouses.

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While the safety industry has yet to truly employ the power of the beacon, this technology is rapidly growing beyond brick-and-mortar stores. Gensuite tech experts have imagined harnessing beacon technology to track user location, send alert information when entering hazardous work zones, or to help humans to digitally engage with nearby equipment. The figurative sky is the limit in connecting mobile device holders to cloud-based data.

Wearables

Now, it may seem like you wear your smartphone (which is why beacons works so well) at all times, but wearables, or wearable technology rather, refers to just that – technology you can actually wear. You may be familiar with wearable technology such as Apple watch or Fitbit, but the EHS compliance and risk management industry has taken wearables to the next level.

Wearable technology could help communicate hazards to employees, store and share exposure data or help the wearer learn or convey details of an injury or accident. Gensuite aspires to join if not lead the wearables movement and its implementation in risk management software.

Of course, the road to widespread wearable, beacon, and bot technology will not happen overnight. But it is rapidly approaching. And with the core of a best-practice risk management software provider such as Gensuite, it may reach the compliance and risk management industry faster than expected. If the promise of Artificial Intelligence in your workplace gets you excited, then Gensuite is the EHS software solution for you.

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