Avanti Bhati possesses approximately two decades of expertise undertaking thorough investigative, business intelligence, and political risk assignments across the Indian subcontinent and the Asia Pacific area. Before joining Osborne Partners, Avanti served as a Managing Director in the Risk Advisory and Investigations division at FTI Consulting in Mumbai.
In a recent interaction with Women Entrepreneur Magazine, Avanti, shared her views and thoughts on the most significant challenges women are currently facing in the investigation industries, as well as how we can encourage the development of more inclusive and gender-sensitive approaches.
How can we see the role of AI and machine learning evolving in the investigation and business intelligence sectors?
Let’s start with defining the terms 'business intelligence' and 'investigations' within the realm of forensics. Business intelligence encompasses the analysis of various types of information, whether public, corporate, financial, or regulatory, to inform clients and guide them in making well-informed decisions based on actionable insights. Similarly, investigations involve the scrutiny of extensive data sets, which may include financial, electronic, or company data, to identify gaps and disclosures that could lead to a loss in value. While much of this work was initially carried out manually, demanding significant resources, over the past decade, there has been a notable shift. Archival data is now available electronically, and the landscape has evolved with advancements in automation and technology. Platforms have emerged that leverage existing Application Programming Interfaces (APIs) to enhance diligence requirements, facilitating access to updated media articles, corporate details, and mitigation records—all at the click of a button. As compliance norms, disclosure requirements, and data sets continue to expand, having access to platforms that provide up-to-date information on internationally sanctioned entities, politically exposed persons, and other watch lists is crucial for firms like Osborne Partners. This capability allows them to effectively support client needs related to compliance and third-party risk management. Additionally, with the increasing integration of Artificial Intelligence (AI) and Machine Learning (ML), the work in this field is becoming more streamlined and comprehensive. For instance, we can now review large data sets during investigations, clean the data, and structure it to identify findings more efficiently. The availability of more extensive data enhances our ability to reduce false positives and derive accurate insights, empowering decision-makers with actionable intelligence. From my perspective, the incorporation of AI and ML in the field of business intelligence and investigations is just beginning, and we can anticipate numerous innovations in this space.
How can businesses leverage open-source intelligence to gather relevant information and insights for strategic decision-making?
The expanding universe of available information presents a growing challenge for companies and individuals alike, including myself. The issue is not merely accessing information, but rather, deciphering and making sense of it. How can we effectively discern the signal from the noise in an information landscape that often feels overwhelming? Additionally, ensuring the authenticity, impartiality, and reliability of the information we review is essential in a world where misinformation can abound. In such circumstances, technology becomes a valuable tool to identify and filter out fake news, eliminate inherent biases, and present an unadulterated view of reality. This capability is instrumental in aiding companies with critical market analysis, shaping robust business strategies, informing risk management approaches, and facilitating compliance monitoring. Incorporating open-source intelligence into decision-making processes proves beneficial across various aspects of business operations.
What are the most significant challenges women are currently facing in the investigation industry?
Awareness stands out as a paramount challenge for women in the investigation and business industries. The first aspect of this challenge involves acknowledging the existence of gender disparities within these sectors. Many women continue to face obstacles such as unequal pay, limited career advancement opportunities, and pervasive gender biases. To address these issues effectively, there must be a heightened awareness among industry professionals, employers, and policymakers about the specific challenges faced by women. Moreover, awareness extends to the need for inclusive and gender-sensitive policies within organizations. Companies should actively promote awareness of diversity and inclusion, fostering a workplace culture that values and supports women's contributions. This involves recognizing and dismantling systemic barriers that hinder women's progress, both professionally and personally. Additionally, awareness plays a crucial role in empowering women to advocate for their rights and opportunities within these industries. Women need to be aware of their worth, rights, and potential for leadership roles. Encouraging mentorship programs, networking opportunities, and skill development initiatives can contribute to building awareness and creating a more supportive environment for women in the investigation and business sectors.
How can we encourage the development of more inclusive and gender-sensitive approaches?
To achieve this goal, employing trend analysis is crucial for understanding client needs and staying innovative and adaptable. Personally, my career started as a political risk analyst, evolving into handling pre-investment due diligence and investigations. A notable trend now is the increasing demand for enhanced due diligence. Recognizing this trend, we at Osborne Partners aim to stay ahead by offering innovative products that empower clients to make informed decisions for their companies. Staying attuned to evolving trends and proactively innovating is the key to fostering progress in this sector. Addressing the question of encouraging more inclusive and gender-sensitive approaches, it is imperative to acknowledge the existing gender disparities in the corporate world. Initiatives must recognize and address biases against women, considering societal norms that often hinder women's career progression. Examples from 'Invisible Women' illustrate inherent biases and specific challenges that persist in India, such as the gender pay gap and disproportionate unpaid labor. While positive changes are occurring, with some corporations promoting gender equality, there is still much work ahead. Achieving a gender-sensitive and inclusive work environment involves ensuring equal pay, addressing societal norms, and promoting women's representation at all corporate levels.
How do business leaders stay informed about changes in regulations and compliance standards relevant to investigations and the business intelligence industry?
Primarily, addressing this challenge involves organized knowledge-sharing sessions. As partners, we conduct these sessions spanning various expertise areas, encompassing disputes, arbitration, private equity, purchase and acquisition, shareholder disputes, business intelligence, and investigations. Our insights are sought by clients, including general counsel, private equity funds, and corporates. Staying well-informed on regulatory and political changes is crucial, given the dynamic nature of our work. Fortunately, the topical and contemporary nature of our projects complements our ongoing efforts to stay abreast of industry developments. In conclusion, our work's symbiotic relationship with understanding regulations and compliance standards in India allows us to support business leaders in staying informed about national changes.
Final Thoughts
Women, indeed, require a robust support system and a platform for growth. I am committed to encouraging and mentoring women in their careers, drawing from my extensive experience in business intelligence and investigations. To all women, I emphasize the importance of financial independence as a cornerstone for a successful and fulfilling life. Opportunities are boundless when one sets their mind to it, and I encourage every woman to explore careers not only in business intelligence and investigations but also in emerging trends like artificial intelligence, machine learning, and data analysis. Your financial independence paves the way for a brighter future, influencing every aspect of life.
