Compliance technology can simplify complex compliance processes and help make smart decisions. As Naveen Bhardwaj explains, by strategically integrating compliance technology and tools, organizations can achieve data-driven, smart and effective compliance programs.
There is an English proverb that says, “a bad workman always blames his tools.” A constructive version of the proverb in Dutch goes like, “goed gereedschap is het halve werk,” which means “good tools are half the work.” This can be interpreted to mean that half of the work is done by humans and the remaining half is completed by tools.
Can one imagine opening a tight bolt without a spanner? No one can, right? Tools simplify our task at hand. In present times, this phenomenon has reached the next level: Tools with embedded technologies such as artificial intelligence, machine learning and deep learning (collectively referred to as “smart technologies”) can mimic human intelligence and in many cases can replace human intervention.
A contemporary example of this would be Google’s driverless cars, which can drive a person around autonomously without human intervention. Now imagine a scenario in which compliance and ethics professionals can sit back and monitor several compliance processes at the click of…
