Ask a CCO: Importance of data analytics, AI over next 5 years
Six senior compliance practitioners share the difference technology has made in their respective third-party risk management efforts, as well as where they are focused on improving in the next year. Today’s question:
Q. How important will data analytics and AI be to compliance efforts over next five years?
Related articles
-
PremiumExperts: AI risk mitigation second nature for compliance professionals
Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.
-
PremiumNeed to know: New York City AI bias law
Companies that use automated tools to screen candidates for jobs based in New York City must check those systems for bias or potentially run afoul of a first-in-the-nation law.
-
PremiumKroll survey: Firms rapidly adopting AI tools for financial crime compliance
A new survey of senior leaders and risk professionals from around the world found more than half the respondents have turned to artificial intelligence technology to address a perceived rise in financial crime risks, although most solutions are still rather new.
More from Opinion
-
Basic PageThe Banks behind Jeffrey Epstein: Why the story matters now more than ever
The Epstein case remains a defining moment for financial institutions. As new investigations bring renewed attention to his enablers, Compliance Week’s 2024 case study offers not only a timeline of failures but a path forward. Here’s what banks, regulators, and compliance teams must learn from it.
-
OpinionA friend for the compliance officer: Co-thinking with AI
At their core, compliance officers are problem-solvers. They wrestle with thorny questions every day: How do we implement a global gifts-and-entertainment policy across jurisdictions with vastly different cultural norms? How do we balance business pressures with anti-corruption obligations? How do we address new risks like AI itself?
-
OpinionCross-border compliance: Lessons from the UAE for a globalized financial system
Financial ecosystems are no longer confined within national boundaries. Money, technology, and risks flow seamlessly across jurisdictions, creating unprecedented challenges for compliance officers. From sanctions and anti-money laundering (AML) obligations to the rise of virtual assets, the compliance function must now navigate a complex, cross-border landscape where regulators, institutions, and ...