According to Deloitte, compliance costs have risen by 60% for banks and other financial institutions since the 2008 recession. The situation is not much different in other industries as well. As a result, enterprises across the globe are struggling to minimize the cost of compliance under control. Even though there are many ways to keep compliance costs in check, none are as effective as using automation and artificial intelligence. Artificial intelligence and automation can not only increase your efficiency of compliance operations but can also minimize costs.

The fundamental nature of labor is changing due to automation, AI, and other developments. They're altering how businesses and customers interact and carry out internal operations, as well as how they conduct business. Knowing these advancements is beneficial to business executives, inventors, and professionals. Artificial intelligence and automation are transforming businesses and will assist enhanced productivity and contributing to the future economy. They also assist in resolving social issues ranging from health to climate change. At the same time, these technologies are transforming the nature of employment and the workplace.

Technological wonder carries a double meaning: we fill our lives with technological wonder, even as we wonder about the impact it is having on us. In this series of articles, I explore the tension between our excitement and our misgivings about our relationship with machines. As end users, we love the convenience of Amazon, Google, and Uber, even though, as citizens, we may be concerned about their impact on our communities. At a time when most Americans believe we are headed toward a future with more economic inequality and cultural division, 87 percent say that science and technology will help us solve our problems. At the same time, 82 percent of us believe that, within thirty years, robots and computers will do much of the work now done by humans, and two-thirds of those respondents believe that's a bad thing.