Transforming GRC work with Technology/AI
Artificial Intelligence (AI) has changed the world and will continue to be the pivotal transformative force for decades to come. The realm of Governance, Risk, and Compliance (GRC) has not been left untouched by technological transformation, and we are witnessing a higher degree of AI adoption in the Regulatory Technology (Regtech) field. On 11 April 2024, a webinar titled "Transforming GRC Work with Technology/AI" delved into this intersection, featuring Joseph Lim, Consulting Partner at Acktivlogic, and Joanne Seah, Partner Technical Specialist at IBM. Over 200 attendees from Singapore, the region, and even Mongolia joined the webinar.
The webinar explored the integration of AI and Generative AI into GRC practices, covering topics such as the Evolution of Technology in GRC, AI and Generative AI in GRC, Implementing AI in GRC, and Challenges in Implementation. The speakers delved into the evolution of technology in GRC, highlighting the practical applications of AI in automating compliance checks and predictive risk analytics. They also shared insights into implementing AI solutions within GRC frameworks, acknowledging challenges such as data privacy concerns and algorithmic biases.
Attendees provided positive feedback on the webinar, noting it as a good overview of the topic. Additionally, participants appreciated the insights shared, including the role of AI in internal audit, indicating that the webinar has provided a broad understanding and applicability of AI in GRC practices.
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