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.
Many global banks and financial institutions would have been delighted if the adage “the numbers speak for themselves” held true to its meaning; it’d save them from deciphering the numbers they generate constantly for various internal and regulatory reporting activities. Ajay Katara explains how some smart automation can help. If ...
Read moreAI systems based on machine learning can be used to audit financial data efficiently and look for financial fraud, but ethical risks exist if the data is biased. Dr. Steven Mintz explores the principles governing the ethical use of AI. Ethics are important, whether in our personal or professional lives. ...
Read moreWhistleblower complaints are on the rise and may gain further traction from recent stories in the news, increasing the burden on the investigators. H5’s Jeffrey Grobart discusses tools and methods to accelerate the vetting process. From Edward Snowden to the as-yet-anonymous White House whistleblower(s), actions taken by individuals to expose ...
Read moreCutting-edge technologies create footprints in all aspects of life, and banking compliance is no exception. Financial crimes compliance expert Sujata Dasgupta looks at the daily impact these technologies have on banks and financial institutions. Financial crimes across the globe have steadily risen in the last two decades – not just ...
Read moreFisher Phillips associate Samantha Saltzman explores the potential application of artificial-intelligence-powered chatbots in HR, including the possible benefits of employing AI chatbots and the limitations employers can expect. When faced with a problem or question, where do you look for a solution? Chances are, you Google it instead of reaching ...
Read moreAI can be hugely helpful in an HR context, but there are challenges employers should be aware of. Cowden Associates’ President Elliot Dinkin explores how companies can use AI in human resources and what potential problems could arise. As more employers are exploring the use of artificial intelligence (AI) in ...
Read moreNielsen’s Kevin Alvero and Randy Pierson explore the fundamental elements that should be included in any approach to doing internal audit of artificial intelligence. Many internal audit departments are in the process of developing approaches to auditing their company’s artificial intelligence (AI) activities. There is no single, definitive framework yet ...
Read moreTalent is every organization’s lifeblood. Jim DeLoach discusses how, coupled with demographic and social trends, the technologies of the digital age are transforming the workplace. Executives and directors need to pay attention as electronic workers (machines and algorithms) become more prominent in their companies. In last month’s article, I discussed ...
Read moreA recent survey of compliance and procurement professionals finds cybersecurity risk and artificial intelligence adoption top list of concerns Short Hills, NJ (September 30, 2019) -- A recent survey of compliance and procurement professionals indicates respondents are less confident about managing third-party relationships, with cyber security threats and the increased ...
Read moreHow to avoid fraud and corporate crime (while improving compliance programs) from Rafael Aguilera Gordillo, professor of Corporate Compliance and International Security. Increasingly complex economic crime is jeopardizing justice in general and criminal law in particular. On many occasions, there are issues with effectively facing the questions and difficulties posed ...
Read moreWhat happens when decisions made by an artificial intelligence platform lead to injury or damage? Is the “system” responsible? Fox Rothschild’s Chris Temple discusses legal liability when AI decisions made without human input go wrong. More and more process systems deployed in public infrastructure, industrial, commercial and residential applications are ...
Read moreA majority of organizations are still struggling to comply with GDPR, and – just as bad – only 14 percent of U.S.-based companies are ready to comply with the CCPA. Waterline Data’s Alex Gorelik outlines what organizations can do to bake compliance into every aspect of company culture. One month ...
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