Artificial Intelligence is changing the face of regulatory compliance
As developments continue to progress in data analytics and artificial intelligence, the face of regulatory compliance, government investigations and enforcement are changing, according to analysis from a global law firm.
Herbert Smith Freehills has released its series The Byte of Big Data: Investigations and Enforcement, which shines a spotlight on how misconduct is monitored in the age of big data and explores how businesses need to prepare for this new era.
HSF partner Jeremy Birch said advances in data analytics and machine learning offer significant potential for businesses in terms of monitoring supply chains, business partners, employees and customer transactions for suspicious activity and misconduct.
But the advancements have also led to complexities for businesses across jurisdictions.
“We know that big data has changed the way business is done, but it’s also changing the face of [white-collar] crime and, as a result, how misconduct is detected, investigated and prosecuted,” Mr Birch said.
Source: Tony Zhang – Lawyers Weekly