Audio.IQ Featured in Law Technology News Article
The Clutch Group Unveils Audio Analytics for Fortune 500
Audio.IQ was developed to shore up gaps in current audio analysis software.
Sean Doherty, Law Technology News
The Clutch Group, a consulting firm and software and services provider, announced yesterday at the Securities Industry and Financial Markets Association’s Compliance and Legal Society Annual Seminar in Phoenix, the launch of audio analytics software Audio.IQ.
Audio data is a big challenge for financial service institutions, said Varun Mehta, vice president of the Clutch Group, in a press release announcing the launch. “Regulators continue to intensify their focus on how audio data should be preserved, reconstructed, and analyzed, often requiring companies to analyze hundreds of thousands of hours of audio data in short timeframes.”
Audio.IQ is a managed service designed to process and analyze audio data for the financial services industry and any industry that “has regulated call centers, representatives, or sales persons and could deploy Audio.IQ to mitigate the risk of compliance issues,” said Brandon Daniels, president of the Clutch Group in an interview with Legaltech News. Clutch will host the software via secure virtual sessions or deploy the technology behind corporate firewalls using simple connectors, said Daniels.
Clutch developed the new product and service to shore up gaps the company found in existing products: volume restrictions on data analysis and a focus on phonetic-based rendering. The audio technology gaps made it difficult for Clutch to quickly isolate and analyze audio for clients and accommodate various accents, dialects and languages in audio content. In addition, said Daniels, there were three main issues the company encountered in reviewing call data from financial services and life science investigations.
First, existing systems have inconsistent search capability, said Daniels. Industry standard systems only search call metadata, such as call time, date and number, “or the phonemes that are susceptible to significant variability considering large changes across jurisdictions and industries,” said Daniels.
Second, audio data review was “excruciatingly slow and extremely specialized,” said Daniels. The diverse accents, dialect and jargon in audio required linguistic experts to conduct the review or move it to a regional level. “This increased cost and limited the resources available to accurately analyze audio information,” said Daniels.
Third, although audio tools on the market provided search functions, it was a manual process, said Daniels, and “nothing tantamount to the technology-assisted review or data analytics technology used for text.”
According to Daniels, Audio.IQ “is phenomenally scalable and does not have notional limit.” It supports dual rendering to increase the accuracy of search, according to the company’s press release. It captures a concurrent data stream of audio and text with rich metadata using a “Cognitio solution,” said Daniels. This allows for more complex searches, consistent results, and predictive analytics across enormous amounts of data.
Daniels said, “Audio.IQ provides a machine learning process for languages and jargon—you are able to vastly improve audio capture and text rendering of every call. This means that anyone can hear, translate and read the heaviest of Scottish accents or Singlish conversations.”
Audio.IQ supports customized language modeling. Using proprietary algorithms and language models, the analytical tool can be can also be programmed for individual organizations to find meaning in industry vernacular, regional dialects and other nuanced speech.
According to Daniels, Audio.IQ can also “build, predict and model relevance trends in audio data,” all of which can cull the audio data slated for manual review.
The Clutch Group comprises attorneys and technology and process experts to help general counsels manage problems in Fortune 500 companies. It has offices in Chicago, London, New York City, Washington, D.C., and Bangalore, India.
Law Technology News article here.