We uncover key findings from research from experts and reveal how AI not only protects, but propels organizations in an ever-evolving environment. Unleash your intelligence potential.
Jump to:
While AI continues to strike fear in some people, many others agree that it is here to stay. If you’re starting to measure your ability to understand how AI can protect your business and add value to your organization, take a look at the top reasons identified by experts in a recent Thomson Reuters (TR) survey. I have compiled some of them. For more information, The future of professionalsreport. The report covers responses from 1,200 experts in North America, South America, and the United Kingdom.
Throughout the process, Thomson Reuters uncovered trends in how AI is protecting organizations and government agencies that are particularly at risk of error. Law enforcement, Medicaid, financial institutions, child benefit programs, law firms, tax offices, and government agencies are all prime candidates to leverage the power of AI to protect their businesses.
Our AI journey began 30 years ago when Thomson Reuters began offering commercial applications for natural language processing search. We continue our tradition of leveraging new technology capabilities and developing them into cutting-edge performance tools to support our customers. We have been at the forefront of AI adoption for decades. Here are some key lessons about how AI can protect your business.
Professional future reportHow AI can be a catalyst to transform every aspect of work |
AI and regulatory readiness
Highly regulated industries can face regulation at multiple organizational, governmental, and local levels and have historically involved dedicated professionals and compliance teams. This model is increasingly challenged in terms of both availability and cost. Introducing AI into workflows can alleviate some of these challenges by providing more cost-effective options for updating and managing regulatory and compliance information. It is also a resource that is not affected by human time or physical constraints.
Regulatory and compliance frameworks are continually being introduced and updated in many industries, including AI. Organizations found to be out of compliance or in violation can not only harm their customers, but also face fines that can reach hundreds of thousands or even millions of dollars. So, even if organizations have some skepticism about implementing AI, there is little argument against why it can be of great value as a tool to respond to regulatory changes. AI requires trust, reliability, and transparency.
As we explore how AI can help you stay up-to-date on industry regulations and protect your business, we’ll also keep you up-to-date on industry regulations. The European Union, the United States, the United Kingdom, etc.Strengthening compliance obligations for companies using AI”. Fundamentally, the benefit of AI is that it can keep organizations up to date on AI regulations.
AI and risk identification
In addition to preventing compliance violations and the risk of regulatory fines, AI can also help organizations improve their decision-making capabilities. AI inherently can handle large amounts of data and analysis. In our Future of Professionals (FOP) report, risk identification and mitigation are among the top three reasons why enterprises and government departments are deploying AI to protect their business.

With business growth and expansion into new markets becoming top priorities for companies and sectors, the ability to use AI models to create risk assessments significantly increases the odds of growth and success. This reduces the time and effort required to achieve your goals. best strategy.
Another aspect of AI protecting your business is:Incorporate AI-powered tools into your governance, risk, and compliance (GRC) softwareThis continuously improves risk identification and assessment. This has the power to reduce costs and accelerate informed decision-making.
AI and fraud detection
Respondents to this survey featured in the FOP report believe that AI can protect their business in the following ways:Strengthen fraud prevention and detection capabilities. This can be a bit of a double-edged sword. Since the quality of the AI’s output is only as good as the quality of the AI’s input, there is a risk that the collective training the AI is undergoing will allow the AI to assist fraudsters in committing fraud. As reported in an article about Generative AI and its impact on enterprise complianceyou can expect the following:
- More convincing phishing emails.
- A more convincing impersonation attempt to scam people by asking for information over the phone.
- Fake ChatGPT (or similar) browser extensions and apps.
- Malware created by ChatGPT (or similar tools).and
- Data breaches that threaten the release of personally identifiable information
Therefore, you may need to use AI with real-time monitoring capabilities and advanced analytics across multiple datasets to detect fraudulent or suspicious activity and protect your business.
While there has been a lot of discussion and research about the use cases of AI, little has been done regarding the development of formal internal policies around the use and application of AI. However, the U.S. federal government offers an approach worth considering. Adopting the AI Training Act in October 2022, they say government agencies should embrace “fail fast and learn fast,” but avoid exposing internal AI tools as a fraud prevention measure. I told them there was.
These types of technologies always come with inherent risks. In highly regulated industries that are susceptible to human error and oversight, you may have no choice but to leverage AI to protect your business. Please visit our website for more information.Report on the future of professionals.