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The article delves into the role of artificial intelligence (AI) in governance, risk, and compliance (GRC) within organizations. It highlights how AI, particularly generative AI (GenAI), is reshaping the GRC space by providing more robust tools to manage risks and ensure regulatory compliance. Traditional GRC frameworks are often reactive and struggle to keep pace with the dynamic regulatory landscapes and emerging risks.
Generative AI is defined as a subset of AI that focuses on creating new content by learning from vast amounts of data. In the context of GRC, GenAI can identify, assess, and mitigate risks in ways previously unimaginable. It can enhance risk management by analyzing real-time data to predict and respond to emerging risks, as well as automate compliance monitoring to accelerate the process and elevate accuracy levels.
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