ACA/NSCP 2024 AI Benchmarking Survey Results

The implementation of artificial intelligence (AI) tools and technologies has been one of the hottest topics of the year for the financial services industry. While AI tools offer organizations the opportunity to operate more efficiently than ever before, compliance and cybersecurity leaders are now required to quickly create the necessary policies, procedures, and controls to effectively manage the risks of AI. Given the rapid evolution and adoption of AI technology, this is no easy feat.

To help firms better understand and manage AI risks, ACA and the National Society of Compliance Professionals (NSCP) partnered earlier this year to explore how financial firms are utilizing AI and what controls they are putting in place to manage risks inherent in the new technology.

Download our full report of survey findings to learn how compliance leaders and firms are leveraging AI, the benefits and challenges they face, and the measures taken to ensure compliance and manage risks associated with AI deployment.

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Watch our webcast

We recently revealed the results of this survey in a webcast presentation. Watch our webcast to learn:

• The current state of AI usage in the financial services sector, including common use cases for compliance programs.
• Common steps compliance leaders are taking to manage the unique risks created by AI adoption.
• Opportunities and best practices firms should enact to better manage AI risks.

How we help 

ACA's regulatory compliance, cybersecurity, and privacy consultants can help clients meet the evolving challenges of AI risks through the following services:

• Cybersecurity risk assessments, which explore the usage and risks of generative AI.  
• Templates and guidance on acceptable use policies for generative AI that can be tailored to the organization. 
• Tabletop exercises designed to simulate generative AI risk scenarios. 
• Enhanced vendor due diligence offerings that evaluates vendors’ use of generative AI  
• Expert guidance on privacy and regulatory issues that are raised through the use of AI.  

To learn more about the SEC’s recent AI rulemaking and examination sweeps, or how ACA can support you to enhance your policies regarding the use of AI, please don’t hesitate to reach out to your consultant or contact us here. 

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