AI Background Check Tool Ferret AI Helps Clients Obtain Online Background Information
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Ferret AI is an AI tool designed to help users obtain online background information before entering into business agreements. This tool automatically monitors various information sources, including newspaper archives, legal records, and corporate ownership records, to vet potential clients, investors, and business partners.
Image from Ferret AI official websiteThe tool works by analyzing a user's network to identify friends, colleagues, and partners, as well as their roles within the network. This information is crucial for wealthy individuals and business owners who need to screen for potential negative stories in their network before making investments or establishing relationships.
Ferret AI also claims to perform anti-money laundering and sanctions checks to ensure users don't get into trouble by associating with individuals involved in illegal activities. By running these checks, affluent individuals can also ensure they don't bring in people who might harm their reputation.
For such critical checks, relying solely on AI tools may not yet be advisable. The high-net-worth users targeted by this application have the resources to hire professional vetting services and investigators, and they may not necessarily seek cheaper alternatives.
The tool is currently in beta, offering a free version and a premium version. The free version provides 10 free searches per month and unlimited contact imports. The premium version costs $240 per year, including unlimited searches and unlimited contact imports, along with continuous monitoring of 100 saved searches. The professional version is priced at $600 per year, offering the same features but with the ability to monitor 1,000 saved searches.
However, a potential issue related to this tool is data privacy. Reports indicate that the company is collaborating with dating apps to incorporate their data into its search scope. The information collected by Ferret AI could impact the next generation of dating applications. Although all data currently collected by the tool is publicly available, it still raises potential privacy concerns.
Ferret AI official website: https://www.ferret.ai/