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.
Article 22 of GDPR states that AI cannot be used as the sole decision-maker in choices that have legal or similarly significant effects on users; human intervention is a must. Mphasis’ Eric Winston explores how companies can accelerate overall GDPR compliance while doing right by their customers. As the European ...
Read moreCognitive governance is a radical departure from traditional risk management. James Bone explains the benefits and how the former complements the latter. After the 2008 reckoning of the Great Recession and a 60 percent decline in market value, I became redundant and soon began to question the failings of risk ...
Read moreInterconnected with the rise of AI is the growth of the IoT, which is already transforming businesses. Mayer Brown’s Linda Rhodes and Charles King III cover not only the rise of IoT, but also the risks of such technology. The internet of things (IoT) is driving business transformation. Its impressive data-collection ...
Read moreRecent research from Fenergo reveals that banks’ C-suite executives overwhelmingly agree: Underinvestment in technology negatively impacts client onboarding and retention – yet a large percentage have not invested in solutions that would help. Fenergo’s Greg Watson examines the disconnect. The rise of fintech and regtech startups has opened up new ...
Read moreKroll’s Anju Chopra and Heather Williams and Cognistx’s Eric Nyberg discuss how organizations are using AI to prevent and mitigate the severity of data breaches. with co-author Dr. Eric Nyberg Regulators, consumers and investors/stakeholders are increasingly not willing to accept the prevailing “not if, but when” defeatist attitude regarding data ...
Read moreFirms are increasingly leveraging transcription technologies to gain data insights, but they need to understand these applications to make informed choices.
Read moreISF’s Steve Durbin details findings from the firm’s recent Threat Horizon 2021 report, highlighting the top three threats to information security emerging in the next two years.
Read moreFenergo’s Kevin O’Neill discusses how asset management firms and other financial institutions are being scrutinized more by regulatory bodies with respect to AML/KYC compliance and what can be done to rectify the problem. A recent report found that regulators over the past 10 years have issued over $26 billion in ...
Read moreTheta Lake’s Marc Gilman reviews some of the key points from a recent FINRA report that resonate for financial institutions and regtech providers. The end of 2018 found the Financial Industry Regulatory Authority (FINRA) busy issuing guidance on several fronts, including the release of a report on "Technology Based Innovations ...
Read morePeer-to-Peer (P2P) lending is a relatively recent financial innovation that has taken the lending market by storm and fueled financial inclusion. Tata Consultancy Services’ Sasidharan Chandran discusses P2P business models, associated risks and implications of the crowdfunding industry on the traditional banking setup. Loan-based crowdfunding, also known as peer-to-peer (P2P) ...
Read moreAcross a variety of industries, more and more companies are building, buying and using artificial intelligence (AI) in their technology services agreements to further their business goals. Studies forecast that by 2021, 46 percent of companies will have implemented AI and will be spending a total of $58 billion on ...
Read moreThis is the time of year most of us seek to transform our circumstances by adopting better habits. Valerie Charles, Chief Strategy Officer at GAN Integrity, analyzes key ethical and regulatory issues from last year and details three practices companies can implement to improve their compliance programs going forward. The ...
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