Ellen Zimiles Discusses AI with American Banker
Guidehouse’s Ellen Zimiles recently appeared on American Banker’s podcast to share her perspective on what she has learned about testing and implementing artificial intelligence (AI) in compliance departments, filing defensive SARS, and hiring the right people to maintain an effective AI system. With the tremendous amount of data that compliance organizations need to analyze for their regulatory compliance activities as well as investigations, there is a clear opportunity to use AI to make the process more efficient and effective. But along with utilizing this technology may come the need to assess skill sets and see if an organization has the right people or outside partners to use the technology effectively. Also, AI provides a lot of information, but it doesn't tell you why. Subject matter experts, and not just people with a data-focused background, are still necessary to analyze the data appropriately.