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 data gathering and validation


Survey: Compliance execs like AI, but not confident they can harness it

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According to Dun & Bradstreet's "Sentiment Report," 53 percent of 630 compliance and procurement professionals surveyed said they "strongly agree" or "somewhat agree" AI will improve efficiencies and enhance insight within the compliance and procurement function. Yet, nearly the same proportion (45 percent) admitted to being unsure they had the appropriate skills in place to utilize AI in the next year. The top anticipated areas expected to benefit from AI, according to respondents, include risk and fraud detection; data gathering and validation; risk screening; and account reconciliation. The survey also found that "the top anticipated area expected to benefit from AI differs by industry. Financial services and retail most anticipate improved risk and fraud detection with 60% and 55% selecting this as their top area respectively," the survey said.