A recent survey by VinciWork, has found that only 29% of compliance professionals have implemented specific procedures, training, or preventive measures to guard against artificial intelligence (AI) related compliance breaches. The majority (71%) admitted to lacking such protective measures, with 13% having no plans to address this significant gap in their compliance strategy in the near future.
The survey gathered 269 responses from industry leaders across the UK, USA, and Europe, exploring the perception of risks, industry sentiment, and the level of preparedness to address potential compliance issues associated with AI in the workplace.
As AI-powered tools continue to gain prominence in various industries —embedded in tools as diverse as client due diligence and supply chain management to HR and recruitment — concerns are mounting about potential risks. These risks include serious compliance failures such as discrimination, plagiarism, intellectual property theft, and GDPR violations. Adding to the urgency, the impending landmark regulatory European Union’s Artificial Intelligence Act, carrying penalties of up to 7% of global turnover for AI misuse, has raised the stakes for organizations.
The survey found that only 3% of respondents have completed AI training at work as part of their yearly compliance training. 82% stated that they had either not completing AI training or were uncertain about their current status. Additionally, 19% said they have no intentions of participating in any AI training at work. This underscores a significant shortfall in addressing fraud awareness and prevention within organizations.
In light of these findings, there is an immediate and critical need for comprehensive AI training and risk mitigation procedures within organizations. With AI regulation on the horizon, there’s an immediate need for businesses to invest in comprehensive AI compliance programmes. Using AI in business can be very helpful in some areas. Still, if employees end up using chatbots to write their reports or feed customer data into an AI without permission, that can cause a serious compliance problem.
Nick Henderson-Mayo, Director of Learning and Content at VinciWorks
