Skip to content

Part 1 of AI and the Future of GRC: The transformation opportunity

Anthony Stevens |

June 26, 2024
Part 1 of AI and the Future of GRC: The transformation opportunity

Audio version

Part 1 of AI and the Future of GRC: The transformation opportunity
3:32

Contents

Hello everyone, Anthony Stevens here. My latest book, "AI and the Future of GRC," which I am immensely proud of, has recently been unveiled to the public. To show you a glimpse of what you can expect, I am here today to discuss the first few chapters of the book and hopefully establish enough context to effectively highlight the value it can bring to leaders, professionals, and enterprises in the cyber GRC space.

Part 1: The transformation opportunity

The first part of the book expounds on the challenges that organizations currently face in their GRC processes and the largely untapped potential of artificial intelligence in resolving them. It is further divided into three sections:

The evolution of governance, risk, and compliance

Here, we explore how the integration of the Internet and digital technologies into our daily lives has transformed risk management and compliance practices within organizations, emphasizing the importance of data in extracting insights and informing decisions. We also analyze how modern GRC software advanced from monolithic solutions to AI-driven approaches due to the introduction of technological changes over the years and the expansion of GRC practices to other industries and markets. Along with AI, the convergence of alternative technologies like cloud computing and blockchain brings forth a new generation of GRC platforms.

The challenges that have haunted GRC to date

Now we move on to examine the difficulties that organizations have been plagued with since the beginning, from manual record-keeping to tracking complex and continuously changing regulatory requirements. We outline challenges such as limited insights, lack of standardization in methodologies, and interconnected risks that impede the processes of risk assessment, risk mitigation, and risk management. Organizations must also make ethical considerations for data privacy, algorithmic bias, and responsible AI use and balance autonomy and control in their risk and compliance activities. We end the chapter with questions to help organizations identify obstacles in managing their GRC programs.

The arrival of AI in the world of governance, risk, and compliance

In the last chapter of the first part of the book, we take a look at how AI technologies morphed into machine learning, natural language processing, large language models and generative AI, and other newer approaches that redefine their role in GRC. With AI, organizations can leverage automation and better data visibility that can drive effective governance, enhanced regulatory compliance, predictive risk management, and more, leading the way toward a more resilient and secure future. We close the chapter with another set of questions to enable organizations to assess their readiness for integrating AI into their GRC programs.

With that, we conclude part 1 of "AI and the Future of GRC." Parts 2 and 3 of the book will dissect the practical applications of AI in the different domains of GRC and provide valuable insights into how organizations can accelerate change by incorporating AI into their business strategy.

Discover what lies ahead in the next chapters

"AI and the Future of GRC" will soon be available worldwide via Amazon and Amazon Kindle. Be one of the first to get your copy and enjoy a 20% discount plus a free eBook version to share with a friend through our exclusive pre-release offer. Sign up here.





Anthony Stevens

Written by Anthony Stevens

Ant Stevens is a luminary in the enterprise software industry, renowned as the CEO and Founder of 6clicks, where he spearheads the integration of artificial intelligence into their cybersecurity, risk and compliance platform. Ant has been instrumental developing software to support advisor and MSPs. Away from the complexities of cybersecurity and AI, Ant revels in the simplicity of nature. An avid camper, he cherishes time spent in the great outdoors with his family and beloved dog, Jack, exploring serene landscapes and disconnecting from the digital tether.