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Compliance and AI

Compliance and AI-Julie Myers Wood on Navigating the AI Compliance Landscape: Mitigating Risks

What is the role of Artificial Intelligence in compliance? What about Machine Learning? Are you using ChatGPT? These questions are but three of the many questions we will explore in this exciting new podcast series, Compliance and AI. Hosted by Tom Fox, the award-winning Voice of Compliance, this podcast will look at how AI will impact compliance programs into the next decade and beyond. If you want to find out why the future is now, join Tom Fox on this journey to the frontiers of AI.

Welcome back to another exciting episode of our podcast, where we delve into the fascinating world of compliance and artificial intelligence (AI). Today, we have the pleasure of hosting Julie Myers Wood, CEO of Guidepost Solutions. With her extensive background in law and government positions, Julie brings a wealth of knowledge and insights to our discussion on the challenges and considerations of incorporating AI into compliance programs.

As compliance professionals, we play a vital role in ensuring the safety and security of our businesses. The integration of AI into compliance programs presents both challenges and opportunities. By understanding the tools, risks, and solutions associated with AI, we can adapt to the changing landscape and make informed decisions.

Let’s embrace this exciting era of AI while staying vigilant and proactive. The world is changing, and compliance professionals need to stay up to date to ensure the safety and security of our businesses. Thank you, Julie Myers Wood, for sharing your valuable insights, and we look forward to more enlightening discussions in the future!

Remember, compliance professionals are the co-pilots of our businesses, guiding us through the complexities of the AI revolution. Let’s not wait too long between podcasts and continue this journey together!

Key Highlights

  • Key Considerations for Compliance and AI
  • Importance of Inventorying Tools and Managing Risks
  • AI and Intellectual Property Protection
  • Challenges of Implementing AI
  • AI and Compliance

 Resources

Julie Myers Wood on LinkedIn

Guidepost Solutions

Tom Fox

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Trekking Through Compliance

Trekking Through Compliance: Episode 78 – All Our Yesterdays

 

In this episode of Trekking Through Compliance, we consider the episode All Our Yesterdays which aired on March 14, 1969, Star Date 5943.7

On a mission to evacuate the population of the lone planet Sarpedon before its sun explodes, Spock, Kirk, and McCoy beam down to investigate why sensors indicate no humanoid life remaining on the planet. They discover a “library” staffed by Mr. Atoz (“A to Z”), who tells them to hurry up and pick a destination, and that he himself plans to join his wife and family when the nova comes.

Kirk and then Spock, and McCoy are sent to different places in the past. However, they are all able to return to the library as Mr. Atoz puts in a disk and rushes to join his family before it is too late. Kirk, Spock, and McCoy return to the Enterprise, which warps out of orbit just as the star novas.

Compliance Takeaways:

1.     What is targeted training?

2.     What is effective training?

3.     What is your training governance protocol?

Resources

Excruciatingly Detailed Plot Summary by Eric W. Weisstein

MissionLogPodcast.com

Memory Alpha

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Hill Country Artists Podcast

Hill Country Artists Podcast: Elaine Capers- Capturing The Trans-Pecos: Art, Community, and Inspiration

Delve into the heart of the Texas Hill Country with “Hill Country Canvas,” a podcast that paints the vibrant tapestry of art rooted in this iconic region. From the sun-drenched limestone cliffs to the serene Guadalupe River, the Hill Country has been a muse for countless artists, providing a unique backdrop for creativity to flourish. In each episode, we uncover the stories behind the area’s most captivating artworks, converse with local artists about their inspirations, and explore the fusion of Texan traditions with contemporary artistic expressions. In this episode we visit with Elaine Capers, a Hill Country artist who grew up in Fort Stockton.

Welcome to the inaugural episode of the Hill Country Artists Podcast, hosted by Tom Fox. In this episode, we have the pleasure of hearing from the talented artist Elaine Capers, who takes us on a journey through her upbringing in Fort Stockton, Texas, and the thriving art scene in Kerrville. Join us as we delve into the distinct geography and climate of West Texas, Elaine’s passion for painting, and the upcoming art show that promises to be a treat for art enthusiasts. So sit back, relax, and let’s dive into this fascinating conversation!

Elaine Capers grew up in the charming town of Fort Stockton, located in the Trans-Pecos region of West Texas. This region, often overshadowed by the more well-known Hill Country, boasts its own unique beauty and artistic heritage. Fort Stockton, nestled on the way to El Paso, provided Elaine with a close-knit community and a rich artistic upbringing.

The conversation between Tom and Elaine takes us on a vivid exploration of the Trans-Pecos distinct geography and climate. Picture a desert with a hot, dry heat, occasionally graced by snow in the winter, offering a taste of seasons in this otherwise arid region. After rare rainfall, the area transforms overnight with a burst of vibrant wildflowers, painting the landscape in a kaleidoscope of colors.

Throughout the podcast episode, Elaine emphasized the importance of following one’s passion and embracing opportunities for growth. Tom advises aspiring artists to seek out workshops they are interested in, even if they can’t afford them, and to paint with and learn from other artists. This practical advice encourages artists to continuously learn and evolve their craft. She encourages artists to explore different artistic mediums, such as watercolors, oils, acrylics, pastels, and pencil. By experimenting with various mediums, artists can discover new techniques and expand their artistic horizons.

We also shed light on the thriving art scene in Kerrville, Texas, which has become a hub for artists in recent years. In 2023, the local art scene is buzzing with creativity, and Elaine Capers is one of the talented artists contributing to this vibrant community. Elaine exhibits her work at the KACC art center downtown and with the art club. She has an upcoming show at the Art Center in downtown Kerrville, where seven artists, including five professionals, will be showcasing their work. Tom believes that joining art clubs and immersing oneself in the local art scene is invaluable, even for those who may not consider themselves artists. Appreciation for art, he argues, is just as important as artistic talent.

As we wrap up this captivating podcast episode, we are left with a deeper appreciation for the unique beauty of the Trans-Pecos region and the thriving art scene in Kerrville. Elaine Capers’ journey from Fort Stockton to becoming a full-time artist serves as an inspiration for following one’s passion and embracing opportunities for growth.

So, whether you’re an aspiring artist or simply an art enthusiast, take Tom and Elaine’s advice to heart. Seek out opportunities to learn, experiment with different artistic mediums, and immerse yourself in the local art scene. Who knows, you may just uncover your own unique artistic voice and contribute to the ever-growing tapestry of the art world.

Remember, as Elaine Capers showcases her work alongside other talented artists in the upcoming art show, it’s a testament to the power of following your passion and embracing the diverse range of artistic mediums. So mark your calendars for this exciting event and be prepared to be captivated by the beauty and creativity on display.

To stay updated with Elaine’s artwork, be sure to visit her Facebook page, “Art by Elaine.” And while you’re at it, explore the thriving art scene in Kerrville and immerse yourself in the rich artistic heritage of West Texas. Happy creating!

Resources

Art by Elaine on Facebook

‘Women with Purpose’ show in the Avery Galleria at the Kerrville Arts & Convention Center

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Blog

Julie Myers Wood on Navigating the AI Compliance Landscape: Mitigating Risks

I recently had the opportunity to visit with Julie Myers Wood, CEO at Guidepost Solutions. With her extensive background in law and government positions, Julie brings a wealth of knowledge and insights to our discussion on the challenges and considerations of incorporating AI into compliance programs. We took a deep dive into the intersection of compliance and artificial intelligence (AI).

With generative AI is coming at us with light speed, there are so many things a compliance professional to think about. Julie began with the first key thing is to take a high level perspective to step back and reflect on all the ways that AI can affect your company. You should ask several questions, including some of the following. What AI tools is the company using internally? What tools is the company using internally to help its operations or its capacity know about those tools? What is your company selling? Is your company selling tools that incorporate deep learning, generative AI or other sorts of machine learning?

Equally importantly what is the compliance part that each of your team is performing? What compliance tools are being used? Do you have individuals who are freelancing at your company trying to reduce their work using GPT or something else without telling you and maybe exposing some of the code? And finally, how are criminals using generative AI to get into your work? It all entails that , from a high-level perspective, what are various ways that AI can affect you.

Next it is important to think about is do you know what all these tools are that the company is using? You need to obtain an inventory of tools your employees are using. Compliance professionals need to have a comprehensive inventory of the tools being used within the company and fully comprehend their capabilities and limitations. This may not be easy, particularly if your organization is using a mix of homegrown tools as well as tools that are available for sale on the open market. Your compliance team must understand what are the tools that each part of the company is using because only then can you fully understand the privacy or other regulatory risks that may be involved.

In this inventory, you also need to understand who owns the software tools. When do they expire, how many seats to you have for your organization? Who owns the license keys and does the software legacy out?  This understanding is crucial for effectively managing compliance and mitigating potential risks. It is also a very good business practice.

Generative AI is rapidly advancing, and compliance professionals must stay informed and proactive in addressing its implications. Julie highlights the need to be aware of the risks related to generative AI, export compliance, and other potential problems. By staying updated on the latest developments, compliance professionals can adapt to the changing landscape and make informed decisions.

There are potential dangers of integrating AI into businesses and offers solutions to mitigate them. One key solution involves retraining or supplementing the training of employees. Companies need to educate their workforce on the rules of the road and provide a safe environment for exploring and experimenting with generative AI. Julie pointed to PwC’s billion-dollar investment in AI, including retraining and proprietary platforms, showcases the importance of investing in employee development. However, smaller companies may face challenges in investing in generative AI and effectively implementing it.

AI is revolutionizing compliance by enabling effective analysis and interpretation of large amounts of data. Compliance professionals are excited about the potential of AI for predictive analytics and identifying trends and patterns. However, choosing the right tools for compliance is crucial, as market winners and losers can impact success. A key for success for the compliance team is the need for collaboration between operations and compliance teams when considering the use of AI.

Clear policies defining what can and cannot be done with AI are essential to protect intellectual property and ensure compliance. But it is not simply policies and procedures, it is targeted and effective training, coupled with ongoing communications. All of this should be aimed at educating employees about the risks and consequences of using AI improperly is crucial. Compliance professionals should encourage caution when downloading AI tools from the web and carefully review terms and conditions to avoid unintended consequences.

As compliance professionals, we play a vital role in ensuring the safety and security of our businesses. The integration of AI into compliance programs presents both challenges and opportunities. By understanding the tools, risks, and solutions associated with AI, we can adapt to the changing landscape and make informed decisions.

For the full podcast with Julie Myers Wood, check out Compliance and AI here.

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Report from IMPACT 2023

Report from IMPACT 2023: Jon Bricker on Making ESG Count: 2023’s Compliance Imperative

ECI’s IMPACT 2023 was one of the leading compliance events in 2023. At this conference, Tom Fox, the Voice of Compliance, was able to visit with several of the speakers, exhibitors, participants and one group of ethically minded Girl Scout Troop. In this limited podcast series, Report from IMPACT 2023, Tom explores many of the most cutting-edge topics in ethics and compliance through short podcast episodes. Check out the full series of interviews. You will be enlightened, informed and come away with a fuller and more thorough understanding of the most cutting-edge topics in ethics and compliance. In this episode, Tom visits with Jon Bricker on the role of ESG in compliance programs.

With ever-increasing demands for organizations to be held accountable on ethical and sustainability standards, the importance of ESG and Compliance is becoming more material. ECI Impact 2023 provides a platform to discuss the latest developments in the field, and how companies can successfully meet the expectations of their stakeholders and remain competitive in today’s world. This episode explores how organizations must create a framework for sustainable and ethical practices, and the changing demographics of the workforce and social movements that are creating new expectations for organizations. Companies must also be transparent and authentic to attract and retain top talent. ESG and Compliance is essential for organizations to remain successful and competitive in this rapidly changing world.

 Highlights include

 ·      ECI Impact 2023

·      ESG and Compliance

·      ESG and Ethics

 Resources 

Jon Bricker on LinkedIn

SAI360

Categories
31 Days to More Effective Compliance Programs

One Month to a More Effective Compliance Program: Day 14 – Hiring A CCO: Developing The Job Profile

What should a company do when it desires to hire a CCO? To do so, a company needs to fully understand and appreciate what it needs from such a position going forward. Unfortunately, many companies do not have this insight at the beginning of the recruitment process. The key company stakeholders need to understand the full hiring process. Obviously, this will include HR and others involved in the hiring process for a CCO for the company. It could include the CEO, COO, CFO, CISO, Head of IA and others. They may need to rethink their approach to focus on what they will ask the new hire to accomplish because typically there is a disconnect between what the company thinks it needs and what it really needs.

Tom highlights the importance of developing a comprehensive job profile. Maurice Gilbert provides insights on the topic, emphasizing the need for companies to understand their specific needs and risks when creating a job profile for the CCO position. The podcast also discusses the importance of involving key stakeholders, setting realistic expectations, and considering professional growth opportunities and an attractive package for potential candidates. By involving key stakeholders in defining the role of the CCO and seeking the assistance of a professional executive recruiter, companies can find the right fit for their compliance program’s success.

Three key takeaways:

  1. Bring in your key stakeholders to flesh out the job description.
  2. Consider the top four things you would like a new CCO to accomplish in the first year.
  3. For a new CCO to succeed, the company must have a realistic expectation developed before the process begins.

For more information, check out The Compliance Handbook, 4th edition here.

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2 Gurus Talk Compliance

2 Gurus Talk Compliance – Mary Releases A Book Edition

What happens when two top compliance commentators get together? They talk compliance of course. Join Tom Fox and Kristy Grant-Hart in 2 Gurus Talk Compliance as they discuss the latest compliance issues in this week’s episode!

In this episode, Tom and Kristy cover a range of topics including new anti-money laundering rules, India’s requirement for auditors to report suspected fraud, FCPA enforcement, messaging app compliance, compliance budget challenges, the settlement of an FCPA case, changing work dynamics, the purpose of a corporation, and the impact of ESG factors on corporate governance. They discuss the American Bar Association’s delayed support for anti-money laundering efforts, India’s significant change in auditor reporting rules, SEC enforcement of messaging app compliance, and the potential settlement of an FCPA case. They also emphasize the need for businesses to adapt to changing work styles and values and the benefits of incorporating ESG factors into corporate decision-making.

Highlights Include

  1. ABA agrees to new client due diligence rules.
  2. Mary Shirley releases a new book.
  3. More messaging app non-compliance fines.
  4. Albemarle makes FCPA settlement reserve.
  5. Capitalism at an Inflection Point?
  6. New India rules require auditors to report suspected bribery and kickbacks to the government.
  7. Grupo Aval FCPA Settlement.
  8. Stretching Your Compliance Budget.
  9. Leaving the Office at 5 Is Not a Moral Failing.
  10. Florida woman doused herself in Diet Mountain Dew to erase DNA after killing roommate, 79.

 Resources 

  1. WSJ
  2. Amazon
  3. WSJ
  4. FCPA Blog
  5. CCI
  6. WSJ
  7. Radical Compliance
  8. NYT
  9. NY Post
  10. Corruption, Crime and Compliance

Connect with Kristy Grant-Hart on LinkedIn

Spark Consulting

Tom

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Daily Compliance News

Daily Compliance News: August 18, 2023 – The Fake Uber Account Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance brings to you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News. All, from the Compliance Podcast Network. Each day we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional.

·       Ukraine ABC lessons from Afghanistan. (NPR)

·       Paxton allegedly created fake Uber account to engage in corruption.  (Texas Tribune)

·       AI as big as the Internet? (Bloomberg)

·       Judge pauses mandatory religious training.  (Reuters)