Tag: AI

Innovation in Compliance – Caroline Shleifer: Revolutionizing Regulatory Intelligence with Technology

Post author By admin
Post date January 9, 2024
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Innovation comes in many forms, and compliance professionals need to not only be ready for it but also embrace it. One of those areas is telehealth and telemedicine. My guest in this episode is Caroline Shleifer, founder and CEO of RegAsk. Caroline Shleifer is a seasoned professional with a rich background in healthcare, law, and regulatory affairs, boasting a PharmD PhD and a health law degree. Her perspective on “emerging technologies enhancing regulatory intelligence and compliance” is shaped by her extensive experience in the EU, US, and Asia and her role as the founder of RegAsk, a company that leverages technology to address compliance challenges. She believes that technologies such as AI, machine learning, blockchain, and data analytics are revolutionizing regulatory monitoring, enabling faster and more accurate interpretation of regulatory information, and fostering a more proactive approach to compliance. Her goal with RegAsk is to digitize and streamline the regulatory intelligence process, reducing the risk of non-compliance and fostering innovation. Join Tom Fox and Caroline Shleifer as they delve deeper into this topic on this episode of Innovation in Compliance.

Key Highlights:

• Proactive Compliance through Regulatory Intelligence Automation

• Streamlining Regulatory Compliance with AI

• Leveraging Data Analytics for Proactive Compliance

• Revolutionizing Compliance with Emerging Technologies

Resources:

Caroline Shleifer on LinkedIn

Tom Fox

Tags AI, Caroline Shleifer, compliance

Compliance Into the Weeds

Compliance Into The Weeds: Key Compliance Issues for 2024

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Post date January 3, 2024
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The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to more fully explore a subject. Looking for some hard-hitting insights on sanctions compliance? Look no further than Compliance into the Weeds! In this episode, Tom and Matt take a deep dive into issues Matt has on his radar for compliance professionals in 2024.

Matt Kelly is well known for zigging when everyone else is zagging. At the start of each year, he publishes a column that looks at key issues for compliance professionals in the year ahead. This podcast takes a deep dive into these issues. The rapidly evolving landscape of AI, cybersecurity, and governance is increasingly shaped by regulatory and compliance trends. In this context, industry experts Tom Fox and Matt Kelly offer insightful perspectives. We consider governmental oversight of AI, with more specific AI regulations in 2024, while also highlighting the potential of AI integration into compliance products and platforms. We also look at issues with the SEC, PCAOB, and DOJ. Join Tom Fox and Matt Kelly as they delve deeper into these topics in this episode of the award-winning Compliance into the Weeds.

Key Highlights:

FEPA and its enforcement
NOCLAR and the PCAOB
SEC v. Solar Winds and its CISO
AI-Regulation and Business Use
SEC right to disgorgement

Resources:

Matt Kelly on LinkedIn

Matt on Radical Compliance

Tom

Tags AI, CISO, CISO liability, compliance, DOJ, FEPA, PCOAB, SEC, Solar Winds

Innovation in Compliance

Innovation in Compliance – Jag Lamba on Simplifying Data Analysis with AI

Post author By admin
Post date January 2, 2024
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Innovation comes in many areas and compliance professionals need to not only be ready for it but also embrace it. One of those areas is telehealth and telemedicine. My guest in this episode is Jag Lamba, founder and CEO of Certa.

Jag Lamba, the CEO and founder of Certa, is an engineering expert who has led his team in developing AI tools for streamlining procurement and compliance processes. Lamba’s perspective on these tools is that they are a game changer, particularly for non-procurement users who often struggle with navigating new tools and forms. To address this, Certa has integrated an email chat bot for request intake, making the process more user-friendly and familiar. Lamba believes that this approach will result in increased buy-in from business users and improved efficiency in procurement and compliance processes. His dedication to solving real problems with AI sets Certa apart as a leader in the industry. Join Tom Fox and Jag Lamba on this episode of Innovation in Compliance to learn more about Lamba’s innovative approach to streamlining procurement and compliance processes.

Key Highlights:

Streamlined AI Design with Natural Language
Enhancing Organizational Agility with Certa Assist
Instant Report Generation with Insights AI
Email Chat Bot for Simplified Request Intake

Resources:

Jag Lamba on LinkedIn

Tom

Tags AI, Certa, Jag Lamba

FCPA Compliance Report

FCPA Compliance Report – John Gebauer and John Van Der Wal on Implementing Comprehensive Strategies for Regulatory Rule Compliance

Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. In this episode, Tom Fox welcomes John Gebauer, Chief Regulatory Officer at COMPLY, and John Van Der Wal, Senior Director, Compliance Advisory at COMPLY.

John Gebauer and John Van Der Wal are seasoned professionals in the financial industry, each with over three decades of experience and a focus on regulatory changes and compliance challenges. Gebauer believes that there is a need for stricter controls and requirements in the ESG space. He emphasizes the importance of firms having the necessary documents and procedures to back up their claims of being ESG advisors. Van Der Wal shares a similar perspective. He stresses the need for more controls and requirements in ESG advising, the importance of vendor due diligence, and the potential of AI and machine learning technologies in preventing inappropriate activity. Both Gebauer and Van Der Wal highlight the importance of staying up-to-date with changing rules and regulations in the financial industry. Join Tom Fox, John Gebauer, and John Van Der Wal on this episode of the FCPA Compliance Report to delve deeper into these insights.

Key Highlight:

Compliance Consulting Expert: John Gebauer
Private Fund Reform Rule: Addressing Industry Concerns and Improving Practices
Comprehensive Approach for Rule Implementation
Cybersecurity Measures to Prevent Insider Trading
The Impact of Cybersecurity Regulations on Finance

Resources:

John Gebauer on LinkedIn

Tom Fox

Tags AI, Comply, cybersecurity, ESG, John Gebauer, John Van Der Wal, regulated industries

31 Days to More Effective Compliance Programs

One Month to a More Effective Compliance Program: Day 18-Strategic Considerations for Implementing AI in Compliance

Post author By admin
Post date December 29, 2023
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What are the key factors that impact these strategic considerations for implementing AI in compliance, exploring the tradeoffs, challenges, and importance of considering the impact on decision-making.

Key Considerations

1. Understand the impact of AI on the company.

2. Maintain an inventory of all tools used.

3. Understand the tools for cost efficiency and risk avoidance.

4. Involve all business sectors in AI discussions.

5. Utilize AI for better data usage in compliance.

While implementing AI in compliance brings numerous benefits, there are tradeoffs and challenges to consider. One tradeoff is the need to balance exploration and innovation with rules and regulations. Another challenge is the selection of AI tools.

Implementing AI in compliance requires strategic considerations and decision-making. Understanding the impact of AI, maintaining an inventory of tools, considering cost efficiency and risk avoidance, involving all business sectors, and utilizing AI for better data usage are key factors to consider. Balancing exploration and rules, as well as selecting the right AI tools, are challenges that need to be addressed. By carefully navigating these considerations and challenges, companies can leverage AI to enhance their compliance programs and stay ahead in an ever-evolving regulatory landscape.

Three key takeaways:

1. What are the key factors that impact these strategic considerations for implementing AI in compliance?

2. Compliance professionals need to stay updated with the latest AI developments and trends, which requires continuous learning and keeping abreast of industry news and insights.

3. Understanding the impact of AI, maintaining an inventory of tools, considering cost efficiency and risk avoidance, involving all business sectors, and utilizing AI for better data usage are key factors to consider.

For More information on KonaAI, click here.

Tags AI, AI in compliance, compliance, KonaAI

31 Days to More Effective Compliance Programs

One Month to a More Effective Compliance Program: Day 17-Adapting Compliance Programs for Cloud Technologies

Post author By admin
Post date December 28, 2023
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As organizations transition to remote work and embrace cloud technologies, it is crucial to adapt compliance programs to ensure regulatory obligations are met.

Companies are shifting away from traditional tools like Excel or SharePoint towards centralized systems that facilitate compliance monitoring. Compliance teams can no longer rely on face-to-face collaboration and need systems to manage communication, investigations, and case management. This shift towards virtual platforms for communication has also increased the need to capture and record voice data for compliance purposes.

Adapting compliance programs for remote work and cloud technologies is essential in the current business landscape. Compliance program visibility, capturing and recording communication data, leveraging cloud technologies, and embracing AI-driven compliance monitoring are key factors to consider. By balancing these factors and focusing on risk-based approaches, organizations can ensure they meet their regulatory obligations while enabling their compliance teams to focus on their core responsibilities. The future holds even more advancements in cloud technologies and AI, promising increased defensibility and improved compliance monitoring capabilities.

Three key takeaways:

1. Companies are shifting away from traditional tools like Excel or SharePoint towards centralized systems that facilitate compliance monitoring.

2. You must focus on the explainability and defensibility of your AI models.

3. By focusing on risk-based approaches, organizations can ensure they meet their regulatory obligations while enabling their compliance teams to focus on their core responsibilities.

For more information on KonaAI, click here.

Tags AI, cloud computing, compliance, data driven compliance, KonaAI

31 Days to More Effective Compliance Programs

One Month to a More Effective Compliance Program Through Data Analytics: Day 16 – AI and Data Driven Compliance for Remote Work

The COVID-19 pandemic has significantly changed how businesses operate, with remote work becoming the new norm. This shift has highlighted the crucial role of data and data analytics in compliance across various industries. Regulators now emphasize not only the need for access to data but also its utilization in a way that promotes continuous improvement. One of the key challenges compliance teams face in this new era is the vast amount of data generated by remote work. Communication channels like email and text messages and collaboration platforms like Slack and Zoom have become essential for remote collaboration. However, this explosion of data presents compliance officers with the task of proactively monitoring and understanding unstructured data to uncover hidden risks.

AI-powered data cleansing capabilities have been developed to address this challenge. These capabilities sift through content and focus on relevant and risky information while minimizing false positives. Compliance teams can efficiently concentrate on potentially dangerous content by removing duplicative content, obvious junk, and non-human-generated text. This targeted approach significantly reduces false-positives in the alerts generated by the system.

COVID-19 brought about changes that are still felt today in the business world. Some changes were temporary, but some have become permanent, and remote work is one of them. It is here to stay. The change has underscored the importance of AI and data in compliance across various industries. The shift to remote work has resulted in increased data that compliance teams must proactively monitor. AI-powered data cleansing capabilities help sift through content and focus on relevant and risky information, while AI algorithms and machine learning models aid in risk detection. By leveraging AI and data, compliance teams can enhance their prevention, detection, and remediation efforts, ultimately promoting a culture of ethical behavior and ensuring compliance with data protection laws.

Three key takeaways:

The pandemic changed the corporate world in many ways. One of the permanent ones was moving to remote work.
Remote work generates much more data because messaging apps and online communication tools require new and innovative compliance solutions.
AI and data-driven compliance around data generated from remote work can move a company from detection to prevention.

For more information on KonaAI, click here.

Tags AI, data cleansing, data driven compliance

Compliance and AI

Compliance and AI: Jag Lamba – Certa’s AI Tools for Streamlining Procurement and Compliance Processes

Post author By admin
Post date December 21, 2023
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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. Today, Tom hosts Jag Lamba, founder and CEO of Certa, on their new AI-based tool, Design AI.

In today’s rapidly evolving business landscape, organizations are constantly seeking ways to enhance efficiency and agility in their procurement and compliance processes. The emergence of artificial intelligence (AI) has provided new opportunities to streamline these operations and respond effectively to supply chain disruptions and compliance requirements. Certa, a leading provider of AI-powered solutions, has developed innovative tools that aim to address these challenges and revolutionize the way organizations manage their procurement and compliance functions.

One of Certa’s flagship AI tools is Design AI, which allows customers to design and edit workflows and integrations using natural language. This eliminates the need for technical expertise, making it easier for organizations to create and digitize new workflows or modify existing ones. With Design AI, customers can simply express their requirements in plain English, and Certa’s AI technology will generate the necessary questionnaires, workflows, and integrations based on their specific needs. This empowers organizations to quickly adapt and optimize their processes, ensuring they remain agile in the face of dynamic procurement and compliance landscapes.

Resources:

Jag Lamba on LinkedIn

Tom Fox

Tags AI, Certa, compliance, Design AI, Jag Lamba, Supply Chain

31 Days to More Effective Compliance Programs

One Month to a More Effective Compliance Program Through Data Analytics: Day 13 – Data Management Automation

Post author By admin
Post date December 19, 2023
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Data automation not only streamlines the compliance process but also provides transparency and visibility into the decision-making process. There is a clear importance to connecting people, data, process systems, and tools in one place. This eliminates the need for compliance officers to navigate multiple systems and tools, allowing them to focus on risk-based due diligence. By having a clear understanding of the decision tree and the ability to adjust the automation process, organizations can trust the automation while maintaining control and oversight.

The importance of automation for data analysis in compliance programs cannot be overstated. Organizations need to have visibility into their data at their fingertips to ensure regulatory compliance and mitigate risks. Automation streamlines the compliance process, provides transparency, and allows for adaptability in the face of evolving regulations and risks. By leveraging data analysis, organizations can identify deviations, improve cycle times, enhance training effectiveness, and make informed decisions. Board-level involvement is crucial in overseeing the automation and data analysis process, recognizing its strategic value, and ensuring its effective implementation. With the advent of AI and intelligent approaches, organizations that do not embrace automation and data analysis may suffer in the long run. Trust but verify, and always prioritize visibility and transparency in compliance programs.

Three key takeaways:

Automation not only streamlines the compliance process but also provides transparency and visibility into the decision-making process.
There is a need for board-level involvement in overseeing the automation and data analysis processes.
Through analyzing deviations from the expected path, compliance officers can identify areas that require additional process controls or adjustments.

Check out KonaAI here.

Tags AI, compliance, data automation, KonaAI

Compliance and AI

Compliance and AI – Fred Schonenberg on Generative AI: Transforming Business Efficiency and Innovation

Post author By admin
Post date December 15, 2023
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What is the role of Artificial Intelligence in compliance? What about Machine Learning? Are you using ChatGPT? These are but three of the many questions we will explore in this exciting new podcast, 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.

Fred Schonenberg is a seasoned entrepreneur and the founder of VentureFuel, a company specializing in helping large organizations innovate faster through collaboration with startups. Schonenberg’s perspective on VentureFuel’s approach to innovation and integration of generative AI is that it bridges large organizations, early-stage startups, and VentureFuel’s capital.

He believes that in an era where large organizations are being asked to do more with fewer resources and the convergence of different industries and technologies requires them to seek external innovation, VentureFuel can help these organizations make sense of the external innovation world, find the best solutions, and collaborate with startups to solve business challenges. Schonenberg emphasizes the importance of finding scalable and repeatable solutions that can be integrated into existing business operations, a perspective shaped by his extensive experience in the startup and high-growth company sectors. Join Tom Fox and Fred Schonenberg on this episode of AI and Compliance to learn more about this innovative approach.