Press Relase: Giant Oak Releases New Updates to GOST
by Kristina Drye, on Aug 29, 2022 10:44:51 AM
Giant Oak Releases New Updates to GOST, Enhancing Risk Assessment to Identify Corruption, Terrorism, Money Laundering, and Other Illicit Activities
The newest iteration of GOST (Giant Oak Search Technology) features a 200% increase in precision, gives analysts more data, and allows for more customization
ARLINGTON, Va. – Giant Oak, a leader in the application of artificial intelligence and machine learning for the compliance and risk needs of business and government, today announces updates to their GOST® product. The Fall 2022 GOST Release introduces three primary updates: a 200% increase in precision of alerts; modular management of customized models; and expanded access to GOSTCrawl, a proprietary data source that increases the customer’s risk discovery. The new GOST updates reduce analyst labor by 50% while increasing the accuracy and agility of results. The combined improvements allow GOST users to monitor large populations more efficiently and effectively than other risk identification platforms.
“Our mission is to make the world a safer place by contributing technology to the global screening and vetting community. To this end, our teams of scientists and engineers are constantly working to improve and adapt our technology to help risk management executives and practitioners close critical windows of vulnerability,” said Gary M. Shiffman, PhD, founder and CEO of Giant Oak.
Traditional screening methods use point-in-time data like static lists to make risk assessments, resulting in false positives and missed information. As a machine learning platform, GOST uses available web data in real-time, as well as data provided from the user, to make risk assessments based on models of derogatory information. For example, if a user wants to prioritize discovery of entities that behave like human traffickers specifically, a model and data can be tailored for precision in that specific outcome. Unlike limited, point-in-time data, GOST can find negative news in chat rooms, social media and discussion websites, the deep web, and articles or sources in foreign languages. This comprehensive sweep of the internet reduces false positives and increases discovery.
GOST also operates on a continuous monitoring framework, meaning that organizations using GOST receive the unique benefit of passive screening and active risk discovery across their entire portfolios, using early indications and warnings to provide contextual insight and risk prioritization. Because information is retrieved upon processing, GOST is a privacy-preserving bulk screening solution.
“We’re proud to push innovative updates in GOST to ensure a more efficient and precise screening process for our customers,” said Harsh Pandya, President of Giant Oak. “The ability of GOST to use the open and deep web, matched with the data sources of GOSTCrawl, transforms the return on investment of the screening enterprise, all while preserving privacy.”
Media Contact: Kristina Drye
Cell Number: 704-242-4276