The Compliance Dictionary will also aid regulators in writing authority documents. The UCF team was recently in Washington, D.C. to train banking regulators to run their content through the UCF's mapping and dictionary process before releasing authority documents.
"This gives the regulators the opportunity to check their language and check their mandates prior to releasing it to the general public," says Steven Piliero, UCF's CTO.
"The UCF team is making its mapping processes and dictionary processes available to any and all regulators and international standards organizations so that the collective dictionary can be leveraged to make their language clearer and more standardized," Cougias adds. "This two-pronged approach to harmonizing compliance language pays off in more ways than you'd initially think. The UCF's dictionary goes far beyond a "what does it mean" definition. This is the dictionary of the future, today. The UCF's dictionary includes definitions, check. Non-standard and other variations of a term's spelling. Check. And in order to work with Natural Language Processing engines, each term is linked to its form variants such as plurals, possessives and verb tenses. Check. But what it does great is that it extends well beyond linking a term to its synonyms and antonyms (check again). It links each term to its hypernyms (things that are a part of it), meronyms (things that belong to it) and troponyms (other associations such as "referenced by it," "enforced by it," etc.)."
That last part, Cougias notes, is important because it gives the Compliance Dictionary the potential to help with artificial intelligence and cognitive learning.
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