The compliance world, like business in general, is being inundated with “trends” and claims of “new technology” that inevitably (is or) will transform our economy. There is no question that artificial intelligence holds great promise for compliance and our entire economy. When you boil down artificial intelligence, it is built on two significant developments – the creation and collection of large data sets (sometimes called...
Compliance professionals are learning about new technologies that are quickly evolving to aid the compliance function. We hear regularly about the promise of artificial intelligence and block chain technology. These new developments will have a significant impact on compliance. But for now there are other areas where technology can help compliance programs today, including automation, data collection and analytics and monitoring capabilities. In this episode,...
Compliance professionals cannot do it alone. Of course, CCOs need compliance staff and the collaboration of business, human resources, legal, financial and audit, and related functions in order to succeed. I have made this point over and over (again and again). Along with human and functional resources, CCOs need to embrace technology and data analytics. I have written about the importance of technology to the...
In the technology age in which we live, CCOs often come face to face with a new phenomenon – too much information or data. TMI is not something to laugh at nor ignore. CCOs often face situations where they need to understand what is occurring through a monitoring or audit function. In those cases, CCOs have to decide whether it is worth the cost in...
