Artificial Intelligence Alone Not the ‘Silver Bullet’ as Compliance Chiefs Wrestle with Rising Costs and Complexity

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Artificial Intelligence Alone Not the ‘Silver Bullet’ as Compliance Chiefs Wrestle with Rising Costs and Complexity

Growing levels of financial crime and regulatory scrutiny are forcing organisations to step up spending on compliance, but they are less sold on AI as the standalone solution, according to a global survey of risk and compliance officers by LSEG Risk Intelligence. The survey finds that 87% of respondents expect their organisation’s annual budgets for Know Your Customer Enhanced Due Diligence (KYC EDD) to increase over the next 12 months, with an …