Abstract
This session will explore the transformative potential of artificial intelligence (AI) in audit, risk, and compliance functions. As organizations continue their digital transformation journey, AI offers opportunities to enhance efficiency, improve coordination, and surface data-driven insights that drive strategic decision-making. Participants will gain an understanding of how early-stage AI capabilities can streamline operations, uncover actionable insights, and mitigate risks, thereby building more resilient and agile organizations. Additionally, the session will cover essential strategies for managing the risks associated with generative AI.

Learning Objectives:

1. Understanding AI's Role in Digital Transformation:
   ● Describe how AI can help audit, risk, and compliance teams optimize efforts and reduce manual tasks.
   ● Explain the dual objectives of digital transformation in these functions: increasing resilience and efficiency.
2. Exploring AI Use Cases in Audit, Risk, and Compliance:
   ● Identify specific use cases where AI can enhance audit processes, risk management, and compliance activities.
   ● Analyze how AI-driven insights can improve cross-functional coordination and visibility within organizations.
3. Data-Driven Insights and Efficiency Improvements:
   ● Discuss how data normalization, integration, and AI-driven recommendations can streamline workflows and uncover trends.
   ● Illustrate how AI can proactively surface actionable issues and risks in real-time.
4. Managing Generative AI Risks:
   ● Outline the basics of generative AI, including how its outputs are created and optimized.
   ● Review essential risk management strategies to reduce the potential risks associated with generative AI implementations.