Across the globe, organizations are dedicating a significant portion of their investments and workforce to Governance, Risk, and Compliance (GRC) functions. They are actively exploring innovative technologies to enhance the efficiency and effectiveness of their GRC programs.
In India, according to a PwC Global Risk Survey, India highlights 70% of business leaders are expanding their investments in risk management technology.
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Despite these efforts, many organizations grapple with numerous challenges regarding managing the scale and complexity of diverse GRC requirements. This is thanks to the ever-evolving landscape of regulatory compliance and risk, coupled with the need to uphold the efficiency of internal audit processes.
AI is emerging as a game changer, offering immense potential to transform how organizations approach GRC. As per Moody’s study titled Navigating the AI Landscape: Insights from Compliance and Risk Management Leaders, 70% of respondents said they believe AI will transform their functions within the next one to five years. From identifying and assessing risks to monitoring and reporting compliance, the capabilities of AI extend…
