Previously, we discovered a tapestry of trends impacting the U.S. consumer products industry in 2024. The year will be known for growing consumer awareness and resistance to rising prices. However, priorities don’t just end with matching customers’ product value, innovation, and sustainability expectations! Companies in the consumer products industry have regulatory and legal obligations to… Continue reading 2024’s Top Risks in Consumer Products Industry: Uncovering Legal Risks (Part 2)
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Tag: GRC Tools
How will the U.S. Elections impact AI Regulations?
What’s common between the Democrats and Republicans besides contesting for U.S. elections? The answer is both parties agree on guard railing AI! 2024 will be known for the global election marathon. AI is fueling the divide among the voters, and threat actors are weaponizing GenAI to spread misinformation. Amid the ongoing AI fever, what are… Continue reading How will the U.S. Elections impact AI Regulations?
Exploring Six Critical Challenges to GRC Implementation
Governance, risk, and compliance (GRC) refers to an integrated set of capabilities that enables an organization to achieve principled performance. The acronym was introduced in 2002 by the Open Compliance and Ethics Group (OCEG). In 2007, the International Journal of Disclosure and Governance peer-reviewed the term. In today’s digital age, the definition of GRC has… Continue reading Exploring Six Critical Challenges to GRC Implementation
AI Use Cases in GRC: An Explorative Guide
If you know the line, “Stories written before space travel but about space travel,” from Philip K Dick’s novel, Do Androids Dream of Electric Sheep (adapted to Ridley Scott’s Blade Runner), you’d agree that it resonates with how we feel about recent AI breakthroughs (both imagined and real). Unlike the theme of this cult classic—technological… Continue reading AI Use Cases in GRC: An Explorative Guide
FTC Rules Protect Against GenAI-led Impersonations: Rule Finalizes to Protect Businesses, and Government from Scams
February 15, 2024, the Federal Trade Commission (FTC) finalized the rules to address AI-enabled impersonation scams to protect consumers, government, and business entities. Generative AI (GenAI) adoption spiked in 2022 with the release of OpenAI’s large language model (LLM)-based tool. The tool’s popularity and widespread adoption across businesses replaced many white-collar positions with AI,… Continue reading FTC Rules Protect Against GenAI-led Impersonations: Rule Finalizes to Protect Businesses, and Government from Scams
Bank Regulation and Supervision Increases in 2024: Regulators Announce New Proposals
2023 was indeed a poster year for disruptions. Evolving bank regulations and supervision will drive banking and financial services firms to tread consciously in 2024. Let’s explore the latest banking and supervisory regulations impacting banking and financial institutions’ governance, risk, and compliance (GRC) agenda this year. Basel III Endgame: Post the 2009 financial catastrophe,… Continue reading Bank Regulation and Supervision Increases in 2024: Regulators Announce New Proposals
AI Integration in GRC Tools Will Become A Commonplace in 2024
When we talk about technological sophistication, every enterprise competes to be at the bleeding edge of trends. In 2023, GenAI took the world by storm despite initial hesitations about impending risks and a high-profile security breach that exposed personally identifiable information (PII). Surprisingly, in governance, risk, and compliance (GRC), both AI and GenAI hold tremendous… Continue reading AI Integration in GRC Tools Will Become A Commonplace in 2024