Why AI is both a risk and a way to manage risk

AI can enhance complex decision-making processes, which is why it is a catalyst for transformation in every industry. It allows onerous and time-consuming tasks to be completed more efficiently and effectively, and can give management teams a depth of insight that was never available before. Machine learning – a form of AI where computer algorithms improve over time through their experience of using data – plays an increasingly prominent role in enterprise risk management. AI can be used to create sophisticated tools to monitor and analyze behavior and activities in real time. Since these systems can adapt to changing risk environments, they continually enhance the organization's monitoring capabilities in areas such as regulatory compliance and corporate governance.