Risk and compliance staff expect big benefits from AI and DLT

The findings have been published in the report titled, "Achieving Integrated GRC in an Interconnected Digital Age." According to the report, key factors impacting risk and compliance executives include the need and expectation of real benefits from digital technologies, such as big data, artificial intelligence (AI) and machine learning, as well as distributed ledger technology (blockchain) to bring measurable increases in efficiency to risk management operations. At the same time, many firms are facing challenges in moving toward the future. At a fundamental level, the report indicates that risk operations are having difficulty developing agile capabilities and continue to be hampered by inflexible technology. Thomson Reuters commissioned the independent survey to better understand the impact of these challenges and opportunities, as risk and compliance executives increasingly face intense, enterprise-wide regulatory scrutiny around strong governance and sound internal controls.