How AI Can Apply to Big Data

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Artificial intelligence technology is now broadly impacting business strategy, daily life, commerce, data governance, and corporate compliance—all areas that may benefit significantly from big data insights.

AI’s evolving capabilities also pose numerous compliance and operational challenges. These include ethical use of analytic models when applied to sensitive or personal information, and security and privacy controls for ever-growing pools of data.

Employee use of personal devices, collaboration applications, and ephemeral messaging tools for business communications influence the growth of data volumes, information governance, and the compliance team’s access to information or activity that may put the organization at risk.

As organizations leverage big data and analytics to accelerate business objectives, regulatory authorities are also tapping these resources to support enforcement. The Department of Justice, Federal Trade Commission, and Securities and Exchange Commission recently enhanced recruitment of private sector talent with experience applying technology to compliance and leveraging data to understand patterns and behaviors.

With more agents who understand this space, regulators are empowered to monitor and enforce guidance around the effectiveness, accuracy, and sophistication of corporate compliance programs.

Upon implementation, AI enters the equation in powerful ways. Analytics and AI use in specific areas can accelerate and strengthen compliance by locating key details through the noise of massive stores of data and surfacing any anomalies. Such programs ultimately provide return on investment through risk reduction and insights that improve compliance effectiveness and scope, according to expert opinion.

As reported by news.bloomberglaw.com.