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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2024-01-30T18:31:00
Just 25 percent of corporate leaders felt their organizations were highly prepared to handle the governance and risk issues posed by generative artificial intelligence (AI), a Deloitte survey found.
The report, which polled 2,835 corporate executives and board members across the globe with direct involvement in their businesses’ AI initiatives, found 41 percent of leaders felt their organizations were only slightly or not at all prepared to address AI governance and risk concerns. In contrast, 40 percent of the executives said their organizations’ technology infrastructure was highly—or very highly—prepared to handle AI, according to the survey, conducted last year between Oct. 12 and Dec. 5.
The leaders ranked their legal, risk, and compliance departments as the least likely to have expertise in AI, compared to every other typical company department, including human resources and supply chain/manufacturing.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
2024-04-11T20:38:00Z By Aaron Nicodemus
There is no magic wand compliance professionals can wave to promote a strong risk culture within their organizations, experts discussed at Compliance Week’s 2024 National Conference.
2024-01-29T14:00:00Z By Mario Menz, CW guest columnist
Generative artificial intelligence providers often promote their technologies as revolutionary tools that can enhance anti-money laundering processes. But the issues and shortcomings associated with the technologies must also be acknowledged.
2024-01-17T22:45:00Z By Aaron Nicodemus
A survey of financial crime professionals found that while three of every four companies added more anti-money laundering employees in 2023, nearly all respondents said growing their department’s headcount alone won’t keep up with emerging risks.
2024-05-21T12:45:00Z By Ruth Prickett
A recent survey by surveillance technology firm SteelEye found most financial institutions do not monitor their employees’ use of social media or factor in market risks exacerbated by social media posts.
2024-05-14T12:00:00Z By Adrianne Appel
Large public companies say they are prepared to comply with the disclosure requirements of the SEC’s new cybersecurity incident rule, according to a survey conducted by Compliance Week and DLA Piper, but concerns exist that those reports could enhance the threat of future cyberattacks.
2024-05-06T09:45:00Z By Aaron Nicodemus
Few compliance teams describe their access to company data as “robust,” according to a new survey conducted by Compliance Week and NAVEX, while apprehension toward the adoption of artificial intelligence remains a hurdle for the profession to clear.
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