This webcast aired on October 18, 2022. 
CPE Credit(s): 1

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Artificial intelligence (AI) is no longer the stuff of science fiction. It has already transformed transportation, marketing, and retail, to name a few areas. It is also driving the most meaningful shift third-party risk management (TPRM) has experienced since its inception.

AI is playing a growing role in the risk environment, and it is shaping the tools we have to address and mitigate risks.

This presentation will provide a clear view of the ways in which AI plays an increasingly important part in the world of TPRM, especially for financial institutions. It will offer actionable insight and best practices to enhance programs in varying levels of maturity.

Talking points will include:

  • Origin: a brief history of AI and breakdown of technologies in clear terms. What is machine learning, deep learning, and natural language processing?
  • What has AI done to other industries, and what does it say for the future of TPRM?
  • What tasks can AI take from TPRM? What current tasks are out of AI’s scope?
  • Where to start with integrating AI into TPRM procedures and how to make the business case for receiving the support to purchase the technology.
  • Best practices: how to ensure successful adoption of AI (not replacing people but making them more efficient) and achieve optimal results.
  • The risks of AI: addressing the developing AI risk management framework at the National Institute of Standards and Technology. What third-party risks does AI enable, and where does AI play a role in terms of threats?
  • What are next steps for AI?

Etai Hochman, Co-Founder & CTO – Mirato