August 01, 2024

LFP 252 – the forensic AI that can predict corporate collapse! – The Transparently Story

57 minutes

Watch the video version on YouTube: https://youtu.be/j5HZhwSuVy4

In his inaugural episode of the London Fintech Podcast, host Tony Clark takes over from Mike Baliman and takes a deep dive into the world of AI powered forensic accounting.

Research shows that 1 in 10 US firms are cooking the books and that accounting manipulation is a $4.7Tn industry problem, in the US alone. Transparently has built an AI platform that can detect and score accounting manipulation, often years ahead of corporate collapse!

Tony talks with Dr. Hamish Macalister, the founder and CEO of Transparently AI. They discuss the prevalence of accounting manipulation in global markets, the statistical mechanics behind Transparently’s AI system, the varied use cases spanning banking, asset management, auditing, and regulation, and touch upon the ethical commitment Transparently has towards transparency and accuracy.

Hamish shares his journey, the company’s rapid evolution, and exciting future prospects involving generative AI integration. The episode provides deep insights into the significance and mechanics of forensic AI in tackling financial fraud.

Meet the New Host: Tony Clark

Tony’s Background and Vision for the Show

Introducing Dr. Hamish McAllister – quant strategist, professor & AI inventor

The potential of AI in Finance

Transparently AI: Forensic Accounting

Time away from the startup – Scuba diving

Hamish’s Career Journey & asking the Singapore government to reduce their research grant!

Founding Transparently AI

Building the Transparently AI Team

Cooking the books – the $4.7Tn problem (and opportunity..). Forensic reports in seconds..

85,000 companies – scoring every listed company since the 80’s

Predicting corporate collapse – years ahead..

Exploring Corporate Governance and Asset Quality

Minimizing False Positives in Financial Systems

Client Base and Use Cases

Ethical Considerations and Transparency

How Transparently AI Works

Real-World Applications and Case Studies

Investment from Franklin Templeton

Transparently 2.0 – Generative AI Integration & Google AI acceleration

The world’s first AI Forensic accountant that you can actually talk to

Advice for FinTech Entrepreneurs

Where to Learn More (and free trial offer)

More info:

Transparently.ai: https://www.transparently.ai

Hamish: https://www.linkedin.com/in/hamish-macalister-phd-0b558bb/

Nextwave: https://www.nxwave.com

Tony: https://www.linkedin.com/in/tony-clark-07160b/

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By Tony Clark

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