TechnipFMC(US:FTI) GlobeNewswire News Roomยท2024-10-08 11:30Core Insights - FTI Consulting has launched IQ.AI, a suite of artificial intelligence solutions aimed at addressing client challenges in disputes, investigations, antitrust, and data breach response [1][2] Group 1: Product Offerings - IQ.AI for Investigations provides document summarization to generate overviews, extract key facts, and enhance human review [2] - IQ.AI for Data Breach enables quick identification and extraction of sensitive data for compliance during legal document productions [2] - IQ.AI for Antitrust includes monitoring for compliance with regulations and customized analytics to reduce risk across complex datasets [2] Group 2: Market Context - There is a growing interest in AI solutions across industries, with 78% of business leaders viewing generative AI as a competitive opportunity [3] - 70% of legal professionals believe AI will have a transformational impact on their field, yet only 9% of organizations are currently AI-mature [3] Group 3: Company Strategy and Expertise - FTI Technology has invested significantly in AI R&D and collaborates with software providers to enhance IQ.AI offerings [4] - The company employs a dedicated team of IQ.AI experts to advise clients on AI use intersecting with legal and regulatory risks [5] - FTI Technology conducts ongoing testing to customize AI solutions for specific client needs, saving resources and time [5] Group 4: Case Study - FTI Technology utilized IQ.AI in a complex investigation for a global consumer goods company, combining generative AI with human expertise to reduce manual workload while maintaining quality control [6] Group 5: Industry Challenges - Clients face uncertainties regarding the impact, cost, and reliability of large language models in legal contexts, highlighting the need for expertise and alignment in AI strategies [7][8] Group 6: Company Overview - FTI Consulting generated $3.49 billion in revenues during fiscal year 2023 and operates globally with over 8,000 employees [8]