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.
Like Achilles or Sampson, the power and potential of AI has a weakness, a vulnerability. In the case of financial services that weakness is its opacity. In general, the better the machine learning system, the blacker the box - that is, the harder it is to decipher what is going ...
Read moreDetailsHow IT Can Leverage AI to Prevent Major Cybersecurity Incidents The need for artificial intelligence (AI) in IT governance, risk and compliance (GRC) is growing quickly. As companies expand their digital footprints, cybersecurity vulnerabilities worsen due to an increased amount of data being produced from IT security monitoring and performance ...
Read moreDetailsKey Considerations for Your Next Compliance Tech Dun & Bradstreet's Global Regulatory Strategist outlines six key traits compliance professionals should be on the lookout for when evaluating next-gen compliance solutions. In an increasingly global economy where pressure for cost control is high, accessibility to broader data and advanced technologies can help compliance ...
Read moreDetailsThe Driver Behind Enterprise Situational Awareness Intelligent automation is an emerging solution to enable intelligent decision-making at the strategic level, but it doesn’t necessarily have to be complex or require cumbersome new infrastructure. In fact, since overly complicated approaches to intelligent automation tend to result in project failure, simplicity may ...
Read moreDetailsKey Challenges and Benefits of AI Machine learning and artificial intelligence have become buzzwords in the financial services industry. Daniel Fernandez helps to break down the difference between the two terms and explains how these technologies are being used by compliance departments today. By delving into how these technologies work, ...
Read moreDetailsUsing Artificial Intelligence to Minimize Risk Money laundering continues to be a serious concern for financial institutions across the globe, as legacy technologies allow an unacceptable number of illicit transactions to go unidentified. However, many forward-thinking financial institutions have begun working smarter by using artificial intelligence (AI), dramatically improving the ...
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