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.
Feel safe in the knowledge that you’re covered by KYC checks? Are you sure about that? An arms race of sorts is brewing between financial institutions and cybercriminals to see whose sophisticated measures will win out. Tamas Kadar of SEON looks at how to defeat advanced techniques like voice phishing ...
Read moreProtiviti’s Jim DeLoach revisits some of his writing from half a decade ago to see if companies are making good on the promise offered by technology to deepen the effectiveness of their risk management processes. Five years ago, I contributed an article to these pages titled, “Does ERM Really Matter ...
Read moreMore than half of American employees are using generative AI tools at least occasionally to accomplish work-related tasks, according to a new survey by The Conference Board that found while a majority of workers are using these tools, few of their employers have mature organizational AI policies. The Conference Board ...
Read moreRegulators and auditors are already using AI for large-scale data analysis, but since most information relevant to investigations is unstructured, current tools and processes are lacking. But AI expert Johannes “Jan” Scholtes says that just as compliance teams and regulators adopted eDiscovery for dealing with large data sets, so, too, ...
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Our flagship event series #RISK is where the whole 'risk' community comes together to meet, debate, and learn, to break down silos and improve decision-making. Technology is at the center of every core business process within modern organizations and #RISK Amsterdam 2023 is a content rich Expo centred around the ...
Read moreSo far, financial institutions are mostly using AI to improve the customer experience. But as Alex Roberto of Phaxis argues, there may be some good reasons why banks and other institutions aren’t yet embracing AI — their systems and technology won’t let them. The potential for artificial intelligence to revolutionize ...
Read moreAbout six months from the splashy launch of Open AI’s ChatGPT and despite continued global regulatory concerns about AI’s proliferation, new research indicates that corporations are using the technology across their operations and are likely to keep expanding deployment of AI. A Forbes Advisor survey found that customer service is ...
Read moreThe sixth Thomson Reuters regulatory intelligence report is shining light on the role of fintech and regtech across the financial services industry and what trends firms should look out for as we head into a new year. The report, Fintech, Regtech and the Role of Compliance in 2022, includes insights ...
Read moreOpenAI’s splashy ChatGPT rollout has generated untold amounts of text, both directly and indirectly. While much of what’s been written so far has been about creative work, which some fear will be completely upended by ChatGPT, CCI’s copy chief, Jennifer L. Gaskin, looks at how generative AI tools will change ...
Read moreThe more things change, the more they stay the same. This time last year, we summarized the top 10 ESG stories of 2021, and those three letters continued to dominate our coverage this year. But we brought you much more than that, including coverage of FCPA enforcement actions, ethical lapses ...
Read moreSpending on artificial intelligence across all sectors is expected to more than double by 2025, but Nigel Cannings of Intelligent Voice is here to throw some cold water on that hot trend — and bring a bit of well-earned wisdom. Artificial intelligence has, justifiably, been embraced as a labor-saving productivity ...
Read moreIn this day and age, compliance risks can come from anywhere. Sean Freidlin of Hanzo discusses some of the chief ways innovative marketing campaigns can expose the organization to risk, provides three examples of current risky strategies and offers lessons for the compliance practitioner. Every department in an organization is ...
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