Organizations are increasing their investments in AI to support compliance and due diligence, but many remain wary of the reliability and accuracy of the technology’s outputs.
AI
Posted inArtificial Intelligence
Fears grow over companies’ use of cheaper, potentially dangerous Chinese AI
Regulators and national authorities worry that companies may be unwittingly exposing themselves to significant risk by adopting cheaper Chinese-made AI tools or using available “open-source” software that may also rely heavily on Chinese AI.
Posted inArtificial Intelligence
AI leaders fear rapid tech deployment is encouraging staff to bypass governance processes
Human compliance risks are a critical weakness in AI governance. According to an EY US report, 47% of AI decision-makers know their organization has bypassed corporate governance processes to deploy AI faster.
Posted inArtificial Intelligence
Hong Kong regulator sets accountability, resilience, trust rules for bank AI
Hong Kong’s banking regulator unveiled an AI framework focused on accountability, resilience and trust as financial institutions accelerate responsible artificial intelligence adoption.
Posted inArtificial Intelligence
‘Rogue’ AI raises liability and insurance questions for developers and deployers
Insurance companies anticipate multi-million-dollar claims if AI developers are sued over AI wrongdoing. Recent examples of AI autonomously hacking third-party systems and evading controls have increased concern about liability cases for both developers and deployers.
Posted inArtificial Intelligence
Securing AI systems from cyber threats is a top priority, according to PwC’s Global Digital Trust Insights Survey
Cyber threats against AI systems are a top threat that business and security leaders say they feel least prepared to address, according to PwC’s 2027 Global Digital Trust Insights survey.
Posted inArtificial Intelligence
Boards put AI investments at risk due to lack of knowledge and skills, PwC survey finds
Companies risk wasting their AI investments because boards don’t rate the information underpinning the strategy and directors don’t understand how the technology works or creates value.
Posted inArtificial Intelligence
Companies responsible for decisions made by ‘autonomous’ AI, says ICO
The UK’s data regulator has issued a strong warning that companies remain responsible for protecting personal data when they use AI systems, even when the technology acts autonomously.
Posted inAccounting & Auditing
Compliance urged to respond to consultation on modernizing international audit standards
Important revisions to three International Standards on Auditing are now open for consultation.
Posted inArtificial Intelligence
FCA warns AI may reveal more cyber vulnerabilities firms can cope with
The UK’s financial regulator has warned that the rapid pace of AI development is revealing vulnerabilities in firms’ cybersecurity arrangements because their existing controls cannot keep up with the risks new technology can either create or exploit.