Artificial Intelligence Digital Education Company Wins Council of Europe Competition
Genius Group Wins Council of Europe Competition for ‘Genius Nation’ AI System and Completes Delivery.
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Genius Group Limited (NYSE American: GNS), a AI-powered education and acceleration group, has recently announced the successful delivery of a nationwide AI technology system to the Asset Recovery Committee of the Prosecutor General’s Office of the Republic of Kazakhstan. This accomplishment follows a global competition initiated by the Council of Europe, Europe's leading human rights organization.
Genius Group and Prime Source
Genius Group Limited is recognized for its innovative contributions in leveraging artificial intelligence for educational and business acceleration purposes. One of its subsidiaries, Prime Source, stands out as a major independent IT software developer in Kazakhstan and Central Asia. Since its inception in 2007, Prime Source has consistently delivered proven AI-enabled outcomes to enterprises worldwide.
The Asset Recovery Committee was established in 2023 under the aegis of President Kassym-Jomart Tokayev. This committee operates as a working body of the Commission on the Return of Illegally Acquired Assets, which is chaired by Prime Minister Olzhas Bektenov. The committee is empowered to request and acquire information about assets and their owners and engage researchers, experts, and specialists to identify and mitigate the factors leading to the unlawful concentration of economic resources and illegal withdrawal of assets.
In February 2024, the AI Central Support Department of the Council of Europe launched a technology competition. The objective was to support the Asset Recovery Committee's system for reclaiming criminal proceeds through the deployment of a nationwide AI-powered system. This system aims to integrate over 50 government databases with more than 300 external data sources. These sources encompass government tax agencies, banking data, property and asset ownership data, contract data, corporate and personal data, and a global network of open-source intelligence (OSINT) databases.
The Council of Europe, comprising 46 member states, 27 of which are also members of the European Union, is a pivotal human rights organization. It has been at the forefront of incorporating AI into various spheres to enhance justice and uphold human rights. In May 2024, the council adopted its first international treaty on Artificial Intelligence and Human Rights, Democracy, and the Rule of Law. This treaty was developed collaboratively by 46 Council of Europe member states, the European Union, and 11 non-member states, including notable countries such as the United States, Japan, and Australia.
Prime Source emerged victorious in the highly competitive selection process in May 2024. By July 2024, the first phase of the AI system had been delivered, approved, and received by both the Council of Europe and the Asset Recovery Committee.
Functionality and Impact of the AI System
The AI system developed by Prime Source is designed to be an integral tool for the Asset Recovery Committee. It aims to identify illegally obtained assets and compile the necessary evidence to facilitate their return to state revenue. Given the complexity and scope of financial crimes, the system's ability to process and analyze vast amounts of data from diverse sources is crucial.
Eugene Sherbinin, CEO of Prime Source, expressed optimism about the system's potential. He highlighted that the AI system would play a vital role in the Committee's efforts to recover internationally acquired assets. According to the 2024 Global Financial Crime Report, illicit funds amounting to over $3 trillion were processed through the global financial system in the previous year.
The Asset Recovery Committee plans to extensively apply and further develop the acquired system. This long-term commitment suggests a strategic approach towards combating financial crimes and reinforces the importance of maintaining cutting-edge technology in governance and legal processes. The successful delivery of the AI system by Genius Group and its subsidiary, Prime Source, signifies a milestone in the fight against financial crimes in Kazakhstan. This achievement not only highlights the technological prowess of Prime Source but also shows the proactive measures taken by the Council of Europe in promoting cyberjustice through AI.
The AI system is poised to become an indispensable asset for the Asset Recovery Committee, aiding in the identification and recovery of illegally acquired assets on a national and international scale. As the system continues to evolve and adapt, it may set a benchmark for similar initiatives globally, showcasing how AI can be effectively harnessed to uphold justice and accountability.
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