A strength of artificial intelligence (AI) is its ability to detect patterns and trends in data. Organizations that deploy AI tools for that purpose have a good chance of success, especially if they employ the right guardrails.
Artificial Intelligence
Posted inArtificial Intelligence
AI makes it possible for FINRA to monitor 1 trillion market events per day, executive said at CW event
The Financial Industry Regulatory Authority (FINRA) has welcomed artificial intelligence (AI) with open arms—and also caution.
Posted inSurveys & Benchmarking
CW survey: Compliance teams struggling with AI implementation and trust issues
As companies push employees to use Artificial Intelligence tools to boost efficiency, many organizations are encountering challenges in implementing the technology. A new Compliance Week and konaAI survey found that the most common obstacles were practical and operational issues tied to existing compliance infrastructure.
Posted inArtificial Intelligence
Eunomia Global Executive Roundtable Series: AI & Africa
Virtual Event to be held on Zoom on Thursday, Nov. 6 at 7:30 a.m. EST
Posted inAccounting & Auditing
Communication and relationships is increasingly critical for compliance teams
Compliance is increasingly in the spotlight as companies are tackling everything from artificial intelligence and other new technologies to risk management and mitigation. But it’s soft skills of communication and relationship building that are becoming the most critical tools for success.
Posted inAnti-Bribery
CW TPRM Summit: Technology advancements are making export controls more important than ever
Russia’s invasion of Ukraine has sparked a war with unusual implications: The U.S. has stepped up sanctions and export controls. But companies are increasingly learning that the most seemingly innocuous products can find themselves in “dual use,” as a product for daily life and a product for war. A gyroscope or a more advanced GPS chip might help improve a smartphone’s capabilities, but they can also help to guide a missile.
Posted inAnti-Bribery
ESG isn’t just a buzzword, it’s vendor management, forced labor and more
ESG is no longer in vogue. But its issues still are.
Almost none of the nearly 200 attendees at Compliance Week’s Third Party Management summit this week said they’re currently working on ESG when informally surveyed. The show-of-hands results marked a dramatic reversal from even just a couple years ago, surprising even attendees in the room.
Posted inTechnology
For the first time, a majority of compliance teams using AI: Inside the Mind of the CCO
For the first time, more compliance teams than not used artificial intelligence (AI) to assist them in their work, according to Compliance Week’s 2024 “Inside the Mind of the CCO” survey.
About 56 percent of compliance teams used AI in 2024—a sizable jump from the 41 percent who relied on AI in 2023– the sixth annual survey compliance professionals found. About 227 compliance professionals participated in the survey.
Posted inArtificial Intelligence
Norm Ai names New York Life Insurance CCO to Regulatory Advisory Board
Norm Ai, which provides an AI-powered regulatory compliance platform for the legal and compliance industries, announced that New York Life Insurance’s Chief Compliance Officer Sandi Tillotson has joined its Regulatory Advisory Board.
Posted inArtificial Intelligence, Technology
OpenAI appoints compliance chief
OpenAI welcomed Scott Schools as its chief compliance officer.