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.
What happens when employees add a few out-of-policy expenses? If reports are reviewed manually, these items might slip right on through, but an AI solution can help flag them. Anant Kale and Josephine McCann of AppZen highlight some of the craziest expenses they’ve seen. Employees who are unfamiliar with your ...
Read moreAI is often credited with making work easier and more efficient, but few organizations have a framework in place for its ethical use within risk management and compliance programs. Deloitte’s Irfan Saif and Maureen Mohlenkamp explore how to rectify that issue. Think of artificial intelligence (AI) ethics as the organizational ...
Read moreWhat Money Laundering Looks Like in Community Banks Although they generally have smaller compliance teams and budgets, the nation’s community banks face the same arduous compliance challenges as their larger bank counterparts. Artificial intelligence and machine learning solutions can greatly assist community banks by detecting suspicious entities and transactions in ...
Read moreMany 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 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 moreLondon (May 15, 2019) – Red Box, the leading platform for voice, today announces a partnership with Theta Lake, a leader in compliance artificial intelligence (AI) for video, voice, and unified digital communication. This partnership allows Red Box’s customers to take advantage of Theta Lake’s purpose-built AI and Deep Learning-powered software ...
Read moreRuss Berland considers disruptive risks – like the earthquake and resulting tsunami that caused the Fukushima disaster in 2011 – and how AI can help to identify and manage those risks before they mature into overwhelming obstacles. In March 2011, an 8.9 magnitude earthquake and a 23-foot tsunami hit Japan. ...
Read moreEvery company should be expecting a security breach at some point. MetricStream’s Vibhav Agarwal discusses the importance of tackling cybersecurity directly and what risk-focused executives must do to avoid disaster and position their organizations for success. In a world where organizations are rapidly digitally transforming, cybersecurity has clearly become a ...
Read moreMetricStream’s Gaurav Kapoor shares insights and trends he’s gleaned from connecting with leading CXOs this summer. Here are some of the common threads these influential minds in IT GRC and audit discussed. This June, over 450 business executives, board directors, GRC practitioners, government leaders, industry analysts and more gathered to ...
Read moreIn the fast-moving world of cybersecurity, predicting the full threat landscape is near impossible. But it is possible to extrapolate major risks in the coming months based on trends and events of last year. FTI Consulting's Anthony J. Ferrante outlines what organizations must be aware of to be prepared. In ...
Read moreExperts at Nielsen discuss how the internal audit profession is evolving to best suit board and senior leadership needs, as well as where IA is lagging.
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