Why wouldn't companies just set themselves up as the exchanges in that scenario?

I don't think it would functionally change anything

Kinda like artemis but with AI?

I mostly agree, but I can also envision a situation in which you don't want the people that you're doing recognizance on covering up their illicit activities because they're listening to the police radio. A good compromise would be to record the encrypted traffic and make it public some arbitrary but fair length of time after the fact.