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The power of AI in governance, risk and compliance

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30 Nov
 
2023
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Artificial Intelligence (AI) is reshaping the landscape of corporate compliance and risk management, offering unprecedented capabilities in fraud detection and protection.

We all know by now AI is a huge trend, but it can also be your biggest ally in compliance and risk management. Thomson Reuters highlights AI's role and contribution in a lot of key points, such as:

  • Efficient Risk Detection: AI identifies risk, audit, and control deficiencies proactively, empowering organizations to address potential issues before they escalate
  • Streamlined Compliance Processes: Particularly in Anti-Money Laundering (AML) and Know Your Customer (KYC) applications, AI reduces false positives, optimizing workflows
  • Predictive Risk Planning: AI enables organizations to prioritize risk assessments and allocate resources effectively through predictive planning

As a on-site data collection tool, Checkfirst.ai has been on the lookout for innovative ways to use AI to enable people to capture relevant and accurate data.

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