TECH BUYER Dec 2019 - IDC Perspective - Doc # US45710719

AI-Based Automation Framework for Risk and Compliance in Financial Services

By: Steven D’AlfonsoResearch Director, Compliance, Fraud and Risk Analytics Strategies

Abstract

This IDC Perspective presents IDC's AI-based automation evolution framework for risk and compliance within financial services. To help wade through the hyperbole associated with AI, IDC has developed a framework that allows for the evaluation of the evolving nature of the human-machine relationship and the application of AI at different levels of automation scope: from tasks and activities to processes and systems.

"Applying AI automation to risk and compliance is a necessity for banks to stabilize existing costs and, more importantly, reduce operating risks associated with manual processes that are pervasive throughout risk and compliance functions today," says Steven D'Alfonso, research director, IDC Financial Insights.


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