AI and other advanced technologies play a critical role in augmenting compliance processes and workflows.
As data sources proliferate and regulators expect companies to screen relevant risk areas, business leaders are leaning on artificial intelligence technology to help lighten the load. That’s for good reason: AI can supercharge the compliance process.
Many companies believe more is better when it comes to due diligence. But trying to track every news article, social media post or regulatory update concerning every customer or partner leaves many compliance professionals drowning in data, or worse, missing critical findings that require further actions.
At the same time, regulators are expecting companies to screen against much broader categories of risk for potential partners. For example, there has been growing concern over ESG risks that arise from third-party relationships. In light of these challenges, AI and other advanced technologies play a critical role in augmenting compliance processes and workflows.
Continue reading: https://www.entrepreneur.com/article/424312
As data sources proliferate and regulators expect companies to screen relevant risk areas, business leaders are leaning on artificial intelligence technology to help lighten the load. That’s for good reason: AI can supercharge the compliance process.
Many companies believe more is better when it comes to due diligence. But trying to track every news article, social media post or regulatory update concerning every customer or partner leaves many compliance professionals drowning in data, or worse, missing critical findings that require further actions.
At the same time, regulators are expecting companies to screen against much broader categories of risk for potential partners. For example, there has been growing concern over ESG risks that arise from third-party relationships. In light of these challenges, AI and other advanced technologies play a critical role in augmenting compliance processes and workflows.
Continue reading: https://www.entrepreneur.com/article/424312
