A recent Moody's Analytics survey of 550 compliance and risk management leaders across 67 countries probed respondents' feelings toward AI, how it will affect their work, and the role of regulation in managing the risks presented by the technology. While nearly 70% believed AI would significantly influence their practices, more than 50% expressed concerns about data privacy, transparency, and potential misuse.
AI has yet to be widely applied to solve risk and compliance challenges. However, 90% of early adopters reported that it was already having a positive impact, especially in automating manual processes and improving employee performance.
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