Survey Report: The digital transformation of compliance
Provided by 
NAVEX2024-05-02T01:46:00
A new survey conducted by Compliance Week and NAVEX on compliance team access to data and the use of artificial intelligence (AI) to analyze it found many compliance professionals lack full and transparent access to their firm’s data.
The survey also indicated compliance teams lack the confidence to use data analytics tools on what they perceive as partial data and are apprehensive about applying AI tools to compliance tasks.
This report will address:
- Common problems compliance teams face regarding access to data
- Compliance teams’ roles in AI decision-making
- Where compliance teams identify opportunities for AI support—and how they are preparing to maximize use of the technology
Related articles
-
PremiumEU moves to simplify GDPR and AI Act obligations, raising compliance questions for companies
For the past decade, Europe has led in creating strong but flexible rules for data use and safe AI development. The EU’s new plans to simplify key data privacy and AI governance measures have received a mixed response.
-
OpinionHow to make the business case to upgrade records management systems
Companies are giving their records management programs a makeover, and not for the reasons you may think. What used to be a sleepy back-office legal department function is now front and center, often driven by compliance teams. Organizations are discovering that a “save everything, forever” de facto policy doesn’t ...
-
SurveyCW survey finds compliance teams struggling to scale due diligence beyond direct vendors
Companies are tightening oversight of third-party risks but still struggle to extend due diligence beyond their direct partners, according to a new survey by Compliance Week and GAN Integrity.
More from Survey Reports
-
PremiumCompliance survey shows clawback policies and cooperation tools largely unused
Many companies have strong compliance policies to encourage cooperation with regulators and hold staff accountable, but these policies are rarely used, and cooperation often depends on cost and business benefit, according to a new survey of compliance professionals.
-
News BriefNasdaq: A majority of financial firms plan to use AI in compliance this year
About 36 percent of financial firms are using artificial intelligence in compliance, and most firms intend to ramp up their reliance on AI in compliance in the next 12 months, according to a new survey by Nasdaq.
-
Article3M tops U.S. corporate penalties list with $18.7B in fines over four years, survey says
The 3M Company paid more than $18.7 billion in penalties over four years, more than any other major U.S. company tracked in a new survey.