The biggest bottleneck in investigating complex fraud is staffing. Valid8 uses machine learning to dramatically increase staff productivity.
I am Rob McKenna. I'm an attorney in private practice, and I'm a former Washington State Attorney General.
The biggest bottleneck in investigating complex fraud is staffing, just not having enough bodies to do the work that's needed to paint a complete and accurate picture of the underlying transactions which constitute the fraud. The idea of Valid8 to automate more of that process, to use artificial intelligence, and to use other kinds of machine learning to increase the productivity of staff is key.
I think the most powerful feature of Valid8 is the way that it is a force multiplier for any organization investigating fraud. Certainly, if we'd had it available when I was State Attorney General and we were investigating Medicaid fraud, our investigators and their supervisors could've used it to increase their output, to be able to get more work done in a shorter period of time because it so dramatically accelerates the process of reviewing checks and financial transactions to put together the picture that you need to investigate a case and prosecute it where necessary.
One of the most powerful features of Valid8 is the way it allows for visualization of the money flows, where the money came from, where it went, whose hands it went through. Being able to put up a visual on a screen or on a printed chart is extremely powerful to help make the case that establishes that fraud occurred. Very useful for busy judges, very useful for juries who are trying to understand why the state believes that a fraud was committed.
I think that any attorney general office that uses Valid8 for a Medicaid fraud investigation, for example, would never go back because they would never tolerate the loss of efficiency and the loss of productivity, not to mention the loss of potentially more accurate results and faster results. It would be like going back to manual typewriters from desktop computers. It's impossible to conceive.
I hope that more and more AGs will take a look at it as a potentially powerful tool to enhance the work they do on behalf of the public interest.