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Ventia launches GenAI-powered RegTech solution to boost productivity

Ventia is harnessing the power of AI to streamline how its employees access information and respond to customer needs with its new RegTech GenAI tool.

Ventia is an ASX 200 company that delivers essential infrastructure services, facilities management and engineering solutions across Australia and New Zealand. With a diverse workforce of over 35,000 people operating at over 400 sites, it supports critical assets across four industry segments: defence and social infrastructure, infrastructure services, telecommunications and transport.

Melanie Evans, Group Executive, Digital Services at Ventia

“At Ventia, our Digital Services journey is to simplify, standardise and modernise at scale. As part of our platform for innovation, we’re leveraging new and emerging technologies such as AI (artificial intelligence) and data and analytics insights to deliver differentiation and value to our clients. One of the key ways we’re doing this is to work with partners like Microsoft to accelerate innovation,” says Melanie Evans, Group Executive, Digital Services at Ventia.

In 2024, Ventia launched RegTech, a   generative AI solution to streamline how employees query Ventia’s document library for information around internal standards, compliance, and operating procedures. The solution – designed as an AI chatbot – handles employee requests for information and searches for answers within Ventia’s online document system – delivering these to employees quickly and efficiently.

Before RegTech GenAI, finding specific information on policies and standards was time-consuming. By alleviating this pain point with its first venture into generative AI, Ventia has eased business pressures around risk and compliance.

RegTech GenAI integrates Microsoft Azure OpenAI Service, as well as Azure AI Search, to semantically scan and retrieve relevant information for employees. It also uses Azure AI Services to support natural language input, conduct semantic analysis and generate responses.

Ventia has completed a successful pilot RegTech GenAI in the hands of employees and is now undertaking a controlled release of the tool to 1,000 employees. It plans to roll RegTech GenAI out enterprise-wide to over 10,000 employees by the end of 2024.  Feedback from users has been overwhelmingly positive with users liking the accurate responses and ability to reference provided citations.

Looking ahead, Ventia will use the lessons it has learned in implementing generative AI to enable teams to innovate more quickly, creating future value for the company’s people and customers.

“Ventia continues to use advanced analytics and AI to drive efficiency, optimisation, and value across our organisation as part of our focus on redefining service excellence. The RegTech GenAI solution is an innovative step forward for Ventia as we continue our AI journey” says Dr Jade Aitken, General Manager, Data and AI at Ventia.

“Ventia’s bold venture into Gen AI will empower the company to optimise its operations, deliver superior services and drive innovation in infrastructure management and engineering for some of its most important client organisations in the region,” says Sarah Carney, Chief Technology Officer for Microsoft Australia and New Zealand.