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Manage risk in the era of generative AI

Risk is everywhere. Harness the power of people, data and new technologies to stay resilient.

Our client work and latest research reveal that companies are not keeping pace with an evolving and aggressive risk environment. Risks are increasing and becoming more diverse while both their impact and contagion are growing. As companies look to reinvent, they must transform their risk function to turn business hyper-disruption and escalating threats into opportunities for resilience and growth.

How risk and compliance is changing

Look to your people, data, AI and other technologies

Risks are becoming more difficult to detect, assess and manage. In response, risk leaders are working to transform risk management. They're investing in new technologies like generative AI to better see and manage risks. They’re also introducing new skillsets to the function from inside and outside the company—creating a cross-functional risk culture and making risk management part of everyone's job.

What you can do

Create processes that can be expanded and maintained to keep up with new rules and requirements. Prepare the business to manage the effects across functions and regions.

53%

of Chief Risk Officers say they are very confident in their ability to manage regulatory and compliance risk

Scale operations and capabilities through automation; streamline processes; and access leading resources internally or through ecosystem partners. All while actively managing costs.

83%

of risk leaders—with their advanced levels of risk-management capabilities—are very agile when it comes to using cloud platforms, tools and services to rapidly execute risk processes

Implement simplified and automated risk-control strategies, processes and tools to identify and assess risks early, and to reduce risk exposure and impact.

97%

of risk leaders—with their advanced levels of risk-management capabilities—are satisfied with their ability to proactively identify and define new risks

Create accurate and timely financial, regulatory and risk reports in a consistent and scalable manner.

96%

of risk leaders—with their advanced levels of risk-management capabilities—are urgently improving their ability to collect enterprise-wide data

Build scalable and adaptable enterprise fraud capabilities to help you proactively reduce your risk and fraud exposure, and associated losses—protecting against reputational harm.

57%

of Chief Risk Officers say they are very confident in their ability to manage fraud risk

Develop risk management models that are customized for a company’s usage and requirements.

49%

of risk leaders—with their advanced levels of risk-management capabilities—are modelling the impact of their risk-mitigation strategies

Use technology to transform “know your customer” (KYC) and anti-money laundering (AML) activities, improve the customer experience, reduce costs and maintain regulatory compliance.

57%

of risk leaders—with their advanced levels of risk-management capabilities—say implementing technology is their top priority

Use AI-based platforms to perform advanced analysis and improve credit-risk frameworks for more robust credit-risk management.

63%

of risk leaders—with their advanced levels of risk-management capabilities—are using new technology like AI to improve their ability to detect and quantify risk

Our leaders

Heather Adams

Global Lead Risk & Compliance, CFO & Enterprise Value

David Maya

Lead – Finance Risk Compliance, North America