Search results for: artificial intelligence
Report Spotlights Privacy Access Requests
A study of consumers’ data privacy habits suggests that people are growing more possessive of their privacy rights, which in turn is driving up the compliance costs for businesses trying to meet those privacy demands. So says a report released Wednesday by DataGrail, a software firm that helps companies automate their privacy compliance processes. The…
Read MoreWhat Boards Are Saying About AI
Today I want to start an occasional series about artificial intelligence, and how businesses can take a more risk- and compliance-aware approach to integrating AI into their operations. We might as well start that exploration at the top: What are boards saying about how they oversee the adoption of artificial intelligence? Not much, apparently. At…
Read MoreDispatches From HCCA 2024
The Health Care Compliance Association held its annual meeting in Nashville this week, bringing together more than 2,000 compliance professionals to talk shop, hear from healthcare regulators, and make endless references to country music and southern cuisine. Radical Compliance could not attend in person, so below is a quick roundup of social media dispatches from…
Read MoreSEC Talks AI Enforcement Risk
We have more advice this week on artificial intelligence, this time from a top voice at the Securities and Exchange Commission who urged companies to do better at crafting — and implementing — thoughtful policies to govern AI risks. The speech came from Gurbir Grewal, head of the SEC’s Enforcement Division. He gave a speech…
Read MoreHow ‘Fairness’ Helps Compliance
Compliance officers struggle mightily to articulate the right balance between what’s ethical and what’s legal. So when one of the country’s top banking regulators gave a speech earlier this week titled “Fairness and effective compliance management,” it caught my eye. The regulator in question is Michael Hsu, acting head of the Office of the Comptroller…
Read MoreAnother Way of Looking at AI Risk
Today we return to artificial intelligence, since these days compliance officers need all the good advice they can get on the subject. The New York City Bar Association recently published a paper on how AI might help with anti-money laundering compliance, and along the way raised several issues about AI that every compliance officer should…
Read MoreSEC Launches ‘AI Washing’ Enforcement
The Securities and Exchange Commission sanctioned two investment firms Monday for making false statements about how they use artificial intelligence in their business operations — the first enforcement actions we’ve seen under a crackdown on “AI washing” that SEC officials had been promising for several weeks. The two firms are Global Predictions Inc., an investment…
Read MoreYes, Automating ICFR Helps, But…
Internal audit and GRC professionals talk all the time about the importance of automating internal controls. Now we have some fresh academic research demonstrating what sort of benefit a company can gain from following that path. The research comes from Musaib Ashraf, an accounting professor at Michigan State University who published a nifty paper several…
Read MoreA Convergence of Risk Disclosure
Like many other people, last week I read the SEC’s new requirements for disclosure of climate change risks with a sense of trepidation. The more I studied them, however, the more I felt something else: a sense of déjà vu. Like, has anybody else noticed how similar these disclosure requirements are to those that the…
Read MoreJustice Department Eyes AI Risks
Last week the Justice Department announced that it will cast a more critical eye at abuses of artificial intelligence. Today let’s unpack what that news means for compliance officers in practice, and how you might need to adjust your compliance program to accommodate this brave new AI world. The pledge about increased scrutiny of AI…
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