Artificial intelligence (AI) is revolutionizing industries and the way we interpret data, with generative AI leading as a groundbreaking subfield. Generative AI offers immense potential for streamlining numerous compliance functions and operations. However, these advances also come with significant compliance challenges and digital risks. Without diligent oversight, poor application of generative AI technologies can open organizations up to significant corporate compliance, regulatory, litigation, and reputational risks. This white paper explores the role generative AI may play in reshaping organizational approaches to risk and compliance. It will discuss ways corporate compliance officers can proactively mitigate risks and enable an approach of informed and vigilant adoption.
After a feverish period of disruption across many facets of technology, it’s becoming more difficult to delineate between what could happen and what will happen in the months and year ahead. Business leaders often rely upon industry forecasts to prepare for anticipated change that is likely to impact their operations, go-to-market strategies, hiring plans, etc. Yet in a hype-filled environment in which it seems like anything is possible, organizations must be highly discerning about how they prepare for evolving digital risk and establish resilience for future technological disruption.
Respondents to a survey conducted by Compliance Week and FTI Consulting largely indicated third parties to be the most heightened area of risk to their businesses this year, with reporting and dashboarding and enhancing analytics capabilities among top priorities.
This blog series discusses research and trends across the spectrum of Digital Insights & Risk Management. Part 1 in the series, by Sophie Ross, defined the concept of digital risk and shared a state of the industry across the big picture of this problem space, and Part 2 focused on data privacy issues. This post discusses the disparity between belief and reality regarding emerging data sources in today’s corporate environments. It features insights from business leaders including information governance professionals and legal department leaders.
Data is becoming central to the Department of Justice’s view of compliance programs. As recent enforcement actions show, compliance programs are expected to be inclusive of all data relevant to employee communications about work. Further, corporations are encouraged to hold employees accountable to compliance metrics and benchmarks — thus necessitating tools and data that can generate and report on those metrics.