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RFI Volume Is Rising — and So Is Its Complexity
- Regulatory requests for information (RFIs) are increasing in frequency, complexity, and scope, with regulators expecting detailed explanations, structured narratives, and cross-team coordination.
- Organizations facing RFIs are struggling with manual tools and processes, leading to rushed and inconsistent responses, increasing operational and risk burdens.
- Addressing the RFI challenges requires automation with legal oversight to handle tasks such as documentation retrieval, task allocation, and initial response generation.
- Automation can significantly reduce search time, improve accuracy, prevent bottlenecks, and ensure accountability in the RFI workflow.
- Human-in-the-loop design is crucial in legal contexts to maintain trust, with AI outputs always passing through expert review and validation gates.
- Ensuring consistency across RFIs over time and regulators is a key goal, where structured automation creates a reliable reference set for validation.
- RFI systems need to be treated as core legal infrastructure, with structured response infrastructure, automation, version control, and audit capabilities becoming essential.
- AI in RFIs aims to streamline processes, enhance decision-making, and improve outcomes, but judgment and human oversight remain irreplaceable.
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