AI has driven massive change in three years, but governance hasn’t kept up, creating integrity and compliance gaps. Risks from hallucinations, misunderstood outputs, and democratized use are now clearer, while some organizations are cutting soaring AI costs.
Artificial Intelligence
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California presses ahead with executive order for AI safeguards, cites federal government “abject failure”
California Governor Gavin Newsom has issued an executive order to explore whether companies should develop a “kill switch” for any potentially harmful AI tech they develop.
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Experts welcome U.K.’s approach to AI supervision in financial services—but with provisos
The U.K.’s approach to regulating AI in financial services by focusing on outcomes and consumer protection, rather than introducing new rules, has been largely welcomed by experts—so long as the current regulatory framework is regularly reviewed.
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Beyond the AI Hype: What’s Actually Working in Third-Party Risk Management
AI has produced no shortage of demos, claims, and new terminology. But after the initial wave of experimentation, TPRM teams need a more useful conversation: What is actually working?
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U.K. AI risk management toolkit targets current and future compliance
The U.K. government has published an AI Risk Management Toolkit for “multidisciplinary teams” who work with AI implementations, procurement, or delivery.
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FCA’s regulatory approach in the age of AI will work for now, but regular reviews are necessary, warn experts
The U.K.’s principles-based approach to financial services regulation should remain fit for purpose in an age of AI, say experts—so long as the regulatory framework is regularly reviewed. In July, the Financial Conduct Authority (FCA) published the “Mills Review” about how the regulator might need to adapt its approach as financial services firms adopt AI […]
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Bridging the AI Governance Gap: Operationalizing Defensible Compliance Under Modern Regulatory Scrutiny
In this webinar, we will break down the practical steps compliance leaders must take to operationalize AI governance. Join us to learn how to transition your compliance program from a reactive posture into a proactive “system of intelligence.”
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Cox Media Group, two others pay $930,000 for alleged AI hype
Cox Media Group and two other businesses have agreed to pay $930,000 to resolve allegations that they claimed their AI service offered far more benefits than it did, the FTC said.
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From Risk to Readiness: Preparing Your Workforce for AI and Data Challenges
Defensible compliance programs personalize training and offer practice opportunities. The learning metrics L&D leaders look at gauge the impact of the program, not just participation. To create a stronger program, Skillsoft developed a concise brief that explains what makes up a modern compliance program.
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Moody’s urges banks to integrate compliance, culture and AI governance to accelerate processes and drive growth
Compliance teams must focus on governance, culture, and “explainability” to help banks thrive using AI in a competitive, complex regulatory environment. A new survey from Moody’s found this is why most banks now embed compliance from a project’s earliest stages, with only 17 percent treating it as a “final approval gate.”