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Watch 4CRisk’s Panel Discussion from the #Risk AI Online event March 20-21, 2024

Watch our panel, AI in Compliance. Real World Use Cases and Business Value, from the #Risk Digital event in March 2024

Learn about :

The impact of AI in the Compliance and Risk domain   

  • Introducing  AI and ML
  • Types of AI relevant for Compliance (Predictive, Generative, Conversational)
  • Human in-the-loop process
  • AI an enabler mindset.

What specific use cases, and the benefits         

  • Regulatory compliance (parsing, tagging)
  • Policy and controls design efficacy
  • Contract Compliance
  • Compliance risk assessment
  • Third party risk management
  • Information Security
  • Interconnected and linked compliance artifacts.

People Challenges you expect to meet                

  • Governance - AI requires oversight from multiple groups to ensure good governance.  
  • Roles/Job changes – with AI, the responsibilities of professionals will likely change – tasks that may have taken weeks are now completely in minutes
  • Partners that have been conducting advisory services may also see the scope of their work change.   
  • IT/Security is often at the centre of AI strategy and architecture, as they begin to orchestrate solutions across multiple business units, geographies, and customer groups. 

Advice to Get Started                                              

  • Start Slow and Steady – increase with the speed of Imagination – AI can bring you benefits in ways you can’t always imagine at the beginning!
  • Build an AI Strategy – be thoughtful and involve the right people to contribute and review – make it a living document, principles-based
  • Identify high-priority use cases where the benefits are strong and clear so that people can get behind success, and know what it means to them and the organization
  • Know your data – what can be transformed into information,  what your data quality is and how to improve it. This may require new talent and data scientist/analyst skills
  • Prepare properly for business and HR changes in roles – get in front of it
  • Define an agile but effective governance process – don’t get bogged down! Invite those who are interested in the conversation and the process
  • Do let your partners, customers and regulators know what your AI strategy and plans are
  • Be prepared for bumps from the unforeseen – innovation is fabulous, but it may require fast adaptative when there are outcomes not expected. 

The #RISK AI series of in-person and digital events features thought leaders, industry experts and senior professionals from world- renowned organisations sharing their knowledge, and experience, examining case studies within a real-world context, and providing insightful, actionable content to an audience of end user professionals

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Watch our panel, AI in Compliance. Real World Use Cases and Business Value,  from the #Risk Digital event in March 2024, with:

Grace Beason

Grace Beason Director of Governance, Risk and Compliance, Guidewire

Grace is an accomplished Operations & Transformation Leader in Security, Risk & Compliance.  

Supra Appikonda

Supra Appikonda COO, Co-Founder,

Supra is a business leader with over two decades of proven track record in leading large-scale software implementations, service excellence and strategic partner alliance.    

Meera Banerjee

Meera Banerjee Regulatory Compliance, Investigations & Forensics Partner, PwC  

Meera is a regulatory compliance and forensics partner with over two decades of experience at PwC. She supports heavily regulated industries with responding to unplanned events triggered by misconduct and regulatory non-compliance.  

Stan Yakoff

Stan Yakoff RegTech Adviser & Law Professor, Fordham Law School  

Stan has spent over a decade at firms like Citadel Securities, Marshall Wace, and Knight Capital Group, having pioneered RegTech, surveillance, compliance, and analytics programs from the ground-up in addition to covering sophisticated trading and technology environments across a spectrum of financial products globally.

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