When we delve into the profiles of notable leaders from bigwigs such as Facebook, Google, Microsoft, or OpenAI, we’re often awestruck by their relentless pursuit of innovative products that have transformed lives. Their stories of dedication, resilience, and vision are incredibly motivating, but they often leave us pondering on what concrete, practical insights we can extract from these leaders.
Evgeny Likhoded, the CEO and founder of Clausematch, has shared their journey spanning over a decade of surmounting hurdles and witnessing the fruition of his vision with the open-source publication of the knowledge graph.
When Likhoded embarked on the Clausematch journey over ten years ago, he aspired to transform how professionals handled content creation and management in the regulatory and compliance domain. He visualised leveraging machine learning to make compliance content easier to consume, monitor, manage, and analyse. The simplicity of his vision was the cornerstone; a singular idea derived from smaller experiences, both professional and personal. Likhoded stresses the importance of condensing one’s vision into a clear and concise statement that could be easily articulated to anyone.
His vision for the knowledge graph was simple: to digitise regulations into a digestible, consistent format for both regulators and regulated companies. This clarity of purpose became the guiding light, helping eliminate distractions and saving time, effort, and money – something every leader desires.
Likhoded emphasises the necessity of building a diverse and agile team to realise a vision. While it’s tempting to lean towards familiarity when choosing team members, venturing outside one’s comfort zone to pick individuals with a broad range of skills can significantly increase the odds of success. For Likhoded, his versatile team, proficient in AI and machine learning, were instrumental in developing the knowledge graph, enhancing productivity and collaboration.
Securing buy-in is crucial for any significant project. It’s not uncommon for leaders to assume universal approval for their ideas, which is seldom the case. In Clausematch’s scenario, Likhoded’s team engaged with several subject matter experts, including regulators from the Abu Dhabi Global Market Financial System (the FSRA of ADGM). These regulators, recognising the industry’s need to revolutionise the structuring, tagging, and visualising of regulatory content, were willing to collaborate, leading to the successful open-source publication of the knowledge graph.
Lastly, Likhoded highlights the importance of continuous testing. Even after publishing the knowledge graph in open source, Clausematch urged regulators and highly regulated companies to test it out and provide feedback. This commitment to constant refinement is key to facilitating widespread adoption and ensuring the vision remains top-tier.
In conclusion, while company founders are often lauded as visionaries, it takes extraordinary leaders to actualise those visions. Having a precise vision, enlisting the right allies, securing buy-in from significant stakeholders, and continuously testing the vision are crucial components of this process. As leaders, the quest to be the best is relentless, and the vision should be no different.
Read the full report here.
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global
Copyright © 2018 RegTech Analyst
