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.
Increasing financial inclusion can advance numerous UN Sustainable Development Goals and improve equity worldwide. But doing so is risky for banks, and customers with no financial history may face high interest rates regardless. Though AI can be biased, Anand Pandey argues that the benefits of using predictive machine learning to ...
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 moreThe COVID-19 pandemic has proven an inflection point for the use of AI and ML technology in the health care sector. Regulators across jurisdictions have provided guidance, but many uses and implementations of AI remain in their infancy. To navigate this legal quagmire, boards will need to use every tool ...
Read moreSince last year's Data Privacy Day, system down times have continued to lengthen. Cyber insurance has continued to grow more expensive. AI remains a double-edged sword. As always, awareness training and security protocols serve the best shields in the ongoing defense against cybersecurity breaches. Data Privacy Day – or Data ...
Read moreIn 2022, nations and organizations around the world will continue working to protect customer data against hackers and accidental breaches. From new international regulations to artificial intelligence, here is a look at how cyber compliance is shifting priorities. We often associate a new year with fresh hopes and optimism. While ...
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 moreTeren, formerly SolSpec, has announced $4 million in seed funding led by Allos Ventures, as well as formally rebranding to Teren. The AI machine learning software and content company, which provides geospatial data and insights, said in a news release that the funding will allow it to expand its workforce ...
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 moreKey Insights and Trends from the MetricStream GRC Summit 2018 MetricStream’s 2018 Summit in Baltimore saw several hundred business executives, government leaders, GRC practitioners and industry analysts gather to talk GDPR, strategies and solutions for building better governed, more compliant organizations and more. Gaurav Kapoor, MetricStream's Chief Operating Officer, shines ...
Read moreGartner surveyed over 300 Chief Audit Executives (CAEs) in 2018 on their resource and time investments, priorities and challenges in 2019. Gartner VP Malcolm Murray examines the report’s key findings on the impact to the audit function.
Read moreThe 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 moreWith digitization fueling innovation and change, two questions arise: Is internal audit adjusting quickly enough to innovate and embrace underlying technologies, and should executive management and the board care? Protiviti’s Jim DeLoach discusses. In a world of rapid change on almost every front, in which organizations must adapt and grow ...
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