The 1990s saw the explosion of the internet, transforming the global economy and social development in ways we could have never imagined. But will AI truly have the same impact? While its potential is undeniable, the road ahead is full of risks, challenges, and ethical concerns. Will AI drive efficiency and innovation, or will it create new vulnerabilities that companies must scramble to control? In...
When evaluating AI risks, legal, ethics and compliance professionals need to divide the question into two — first, what are risks from legal, ethics and compliance internal use of AI? and second, what are business risks from employing AI capabilities in specific functions and use cases? Sometimes ethics and compliance professionals are surprised to learn that certain functions — finance, security, HR or others —...
Not to sound like a broken record — but we are consistently asking the compliance community the same question. As far back as March 2013, on this very blog, I wrote a posting — The Future of Compliance — What Will the New Tools Look Like? To avoid being trite, but technology is moving so fast with blockchain, artificial intelligence and data analytics, we have...
October 29, 2024 11 AM EST Sign Up Here Global companies are being challenged with rapidly expanding third-party risks. Cybersecurity, data privacy, and new technologies, such as artificial intelligence, are exponentially expanding third-party risks. The traditional constellation of legal and compliance now includes technology risks that require compliance professionals to collaborate with technology partners and build multi-discipline risk mitigation strategies. Volkov Law is honored to...
The Justice Department announced yet another version of its Evaluation of Corporate Compliance Programs. As everyone knows, the Justice Department’s guidance carries talismanic significance — it is an important document that provides important direction on the design and implementation of an effective compliance program. DOJ understands the importance of this document. In recognition of evolving technology and compliance program innovations, DOJ updated its guidance to...
We are pleased to announce that Certa has agreed to sponsor Corruption Crime & Compliance. We look forward to collaborating with Certa and its incredible team of professionals and thought leaders. Certa is a pioneer and innovative provider of a third-party risk management solution, which empowers Fortune 500 firms with advanced AI-driven solutions for global compliance, risk and management and ESG. Certa’s innovative platform blends...
The new compliance cottage industry surrounds artificial intelligence. We are at such an early stage of AI development — companies are still figuring out how they can employ the technology. Some industries, such as financial institutions, however, have been using AI for fraud detection and other issues. I expect financial institutions will set the tone for much of compliance practices around AI. There is no...
I always enjoy retrospective “year in review” postings to start off the new year. For years, I have sought to identify and capture important compliance trends, typically focused on specific professionals in the compliance arena. This year, however, is a little different. Compliance is at an important inflection point. Corporate business headlines have been dominated by technology issues. I am not convinced that these headlines...
Natalie Druckmann, Vice President at Certa, joins Michael Volkov to discuss third-party risk management and the use of advanced artificial intelligence to implement effective risk mitigation strategies. Natalie sets the strategy for Certa’s expansion into the EMEA markets and growing Certa’s customer base with the use of Certa’s advanced AI tool — CertaAssist. CertaAssist’s suite of intelligent solutions include: The initial roll-out of CertaAssist has...
The Biden Administration issued a sweeping Executive Order directing a broad set of government actions addressing consumer harms, discrimination, privacy protections and other issues stemming from the widespread use of artificial intelligence. While the Executive Order sets forth a set of requirements to various federal agencies, the actions will establish important standards and expectations applicable to the federal government and have a resulting impact on...
