The Federal Trade Commission has been awarded a $14.6 million Technology Modernization Fund grant to enhance its data processing and investigative capabilities.
Utilizing AI, Cloud Technology to Enhance Data Processing
The agency said Monday the fund will support the government’s efforts to strengthen FTC’s ability to detect fraud and anti-competitive practices. FTC will develop a cloud-based analytics platform incorporated with advanced artificial intelligence technologies intended to boost capabilities needed for analyzing data in investigations. The agency will also train personnel in handling these new technologies for in-house data analysis.
The AI-powered tools are intended to streamline data processing, cutting data review from weeks to hours. In addition, FTC’s dependence on outside contractors will be minimized.
What Is the Technology Modernization Fund?
TMF grants funds to IT projects that align with the government program’s initiative to enable agencies to modernize their IT systems. TMF focuses on projects with high potential for success, savings and taxpayer benefits.
