Survey: Compliance digital transformation hampered by data access, AI concerns

A new survey conducted by Compliance Week and NAVEX on compliance team access to data and the use of artificial intelligence (AI) to analyze it found many compliance professionals lack full and transparent access to their firm’s data.

The survey, conducted online between January and February, also indicated compliance teams lack the confidence to use data analytics tools on what they perceive as partial data and are apprehensive about applying AI tools to compliance tasks.

The survey received 136 total responses from compliance leaders. A total of 59 percent of respondents described their access to their firm’s data as “moderate,” while 21 percent said their access was “robust” and 20 percent said “lacking.”