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I recently attended Compliance Week’s AI and Compliance Summit in Boston where compliance professionals gathered to discuss the current and future states of AI compliance, ethics, regulation, and governance. Complexity was the foremost concern on the minds of the conference attendees. As AI grows increasingly complex, so too do the compliance concerns surrounding it. AI introduces new opportunities and challenges for compliance professionals seeking to establish AI policies, governance committees, and codes of ethics within their organizations.
Learn about the EU's seven principles of ethical AI and how they can help compliance officers responsibly implement AI tools and systems.
Here are some of my takeaways for compliance officers regarding AI risks and recommended steps on how to mitigate them.
Following the precedent set by the EU AI Act, US compliance officials should consider a risk-based approach to balance innovation and protection.
Learn how President Biden's executive order on AI aims to protect Americans from potential risks and what compliance officers can do in response.
Here are my three key lessons from NSCP about AI in personal and professional life, the pace of regulatory change, and the importance of quality data.
Learn about the EU's seven principles of ethical AI and how they can help compliance officers responsibly implement AI tools and systems.
There are numerous applications and benefits of AI in financial services, including compliance monitoring, risk management, and regulatory reporting.
“Let me talk about how AI has impacted my life in three ways – reading, searching for information, and navigation. In all of these areas, I utilize a combination of AI and human intelligence. However, I would not mind the day when AI could be used alone when necessary, and human intelligence could be a choice – a supplement to improve my experience but not necessary for essential functions.”
Did you know that financial services regulators use AI to help detect fraud and possible misconduct? Jasmin Sethi highlights use cases of two regulators.