Recent advances in cognitive computing give us GRC solutions that are more than data repositories and analytic tools. It seems futuristic but right now there are cognitive systems available that can predict future events, see trends and patterns we miss, and suggest actions.Today, our GRC technology can be a trusted advisor and an active participant at every line of defense.
There are many examples of how cognitive systems can help us to cut through the vast amount of GRC data we find both inside and outside of our organizations. Here are but a few:
In the context of regulatory change management, cognitive systems can identify and classify requirements with recommendations on how to address compliance objectives, while continuously tracking any changes based on strategic and business needs.
When addressing operational risk, cognitive systems can continuously evaluate loss event data and compile a dynamic list of prioritized risks to manage, while preparing a comparative analysis of possible operational changes to highlight areas of potential exposure, gaps or opportunities
Supporting vendor management, a cognitive system can track and analyze global events to understand impact on individual vendors and vendor ecosystems, while delivering customized reports for vendor relationship owners with risk analyses, event data, news and social media sentiments
OCEG, with contributions from IBM, has developed an illustration that shows you how to gain insights, develop meaningful reports and move faster from data to decisions with cognitive GRC capabilities.
Then join us for an OCEG webinar that will go into deeper detail about the transformative power of cognitive GRC technology on July 19th. Register at http://www.oceg.org/event/transforming-grc-cognitive-computing/.
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