AI’s ability to process large volumes of data with speed and accuracy can potentially transform regulatory compliance — but not without attendant risk and challenges. In the short term, the technology can be used to assist business leaders to understand compliance requirements easily and take apposite action, but circumventing human intelligence and our ability to think ethically and abstractly makes AI’s role in compliance controversial and complex.
The use of AI is projected to grow exponentially in the near future. James Bone discusses what this means for internal audit and outlines the key elements of an AI audit framework. Artificial intelligence has become a national strategic imperative for countries as diverse as China, Russia, the U.K., France, ...
Read morePatented AI-powered data solution provides the largest real-time source of negative news and risk information, including watchlist and sanction lists, adverse media and state-owned entities SAN FRANCISCO (July 14, 2020) – Steele Compliance Solutions, the global leader in ethics and compliance management, today announced the worldwide launch of “Risk Intelligence Data,” ...
Read moreSan Francisco, CA (June 24, 2020) – Compliance.ai recently announced the addition of three leading industry experts to its advisory board – adding expertise in banking, legal and RegTech. Compliance.ai also launched new capabilities to further support compliance professionals in their day-to-day regulatory change management process. Joining the advisory team ...
Read moreThe pull of artificial intelligence is strong, but there are serious ethical questions that must be addressed in certain fields. Nexdigm’s Director of Intelligent Automation and Accelerated Analytics Service, Amit Kumar, considers the implications of using AI solutions in health care. “Ethics is knowing the difference between what you have ...
Read morePlatform enhancements provide greater automation to mitigate financial, compliance risk ATLANTA (May 26, 2020) – Oversight, the global leader in spend management technology, today released the latest version of its spend optimization platform, which is designed to reshape the way organizations identify, prioritize and resolve financial and compliance risk in their card and ...
Read moreFraud levels increase in times of economic distress, and the global pandemic is creating a once-in-a-lifetime opportunity for financially rewarding mischief. H5’s Sheila Mackay discusses what companies can do to quickly identify and prevent fraud. The Brewing Storm As companies strive to adjust to the altered state created by the ...
Read moreFirms need not throw away long-established governance principles to adapt to AI/ML. Rather, as Mayer Brown’s Reginald Goeke, Stephanie Monaco and Leslie Cruz share, companies can modify their existing model risk management systems to address issues raised by AI/ML tools. As the financial services industry increasingly turns to the use ...
Read moreAccess Partnership’s Seha Yatim contributes to the discussion on tech policy trends, offering predictions for increased data-sharing regulations this year. Our data is collected by almost every service we use. Many companies, from social media platforms to content platforms, e-marketplaces and search engines, rely on an advertising-driven, data-tracking business model ...
Read moreFrom augmented analytics to financial transformations and a broader view of risk, Oversight Systems CEO Terrance McCrossan offers predictions on the risk trends we can look for in the months ahead. At the beginning of 2020, we could not have imagined our world gripped by a pandemic with far-reaching effects ...
Read moreSujata Dasgupta provides an analysis of the upcoming Dutch AML utility – currently under feasibility study – and how it can open up a new world of possibilities in unified transaction monitoring. In the wake of rapidly rising financial crimes, regulators across the globe have toughened their stance on compliance ...
Read moreImplementing conversational AI as part of your organization’s recruiting process doesn’t have to be difficult. Mya Systems’ Mike Pauletich discusses how to make it happen. Conversational artificial intelligence (AI) is widely recognized as an essential component of the modern HR technology landscape, yet purchasing and implementing a recruiting AI solution ...
Read moreDisruptive innovation has a clear impact on the half-life of companies’ business models. Protiviti's Jim DeLoach discusses how industry disruption and digital transformation present a new frontier of opportunity and risk that is shaping – and speeding up – business model changes. Disruptive change has been present throughout recorded history, ...
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