Benchmarking AI solutions for FEC challenges with named entity recognition

We tested the use of some Large-Language models (Artificial Intelligence) in the Financial Economic Crime context We found that given the requirements on AI processing power, the trial-and-error nature of prompt engineering for LLMs, and results from this analysis showing false-negative conclusions are very feasible with LLM outputs, companies facing AML, Sanctions and KYC challenges should think critically whether LLM usage in production processes is the best fit, or if tailored other AI solutions may provide better results.