RIMS, the risk management society, has published a white paper exploring the opportunities that AI provides for audit, risk, and compliance teams as well as looking at the risks that need to be managed.
Sponsored by Auditboard, ‘AI’s Bright Future in Audit, Risk, and Compliance: Exploring AI’s Transformative Impact, Use Cases, and Risks’ looks at ‘how you can build a more resilient organization while getting more done with less effort using AI’.
Key areas covered include:
- How recent advances in generative AI are creating new opportunities for audit, risk, and compliance teams.
- The scope and nature of these opportunities, including sample use cases.
- The basics of how generative AI outputs are created and optimized.
- Risk management essentials for reducing generative AI risk.
What’s next for AI in audit, risk, and compliance?
The document finishes with a look ahead, concluding that AI solutions for audit, risk, and compliance will help teams drive greater efficiency, improve cross-functional visibility, connect risks and teams, and proactively surface insights that may otherwise be inaccessible. However, “AI is only as useful as the data that underpins it, and AI insights only yield value when real people review, refine, and share them – and decide to take action.”
