ADOPT AI POLICIES BEFORE IT’S TOO LATE

We are urging firms to implement structured AI policies before staff usage leads to a client security breach.

Why? Because new systems should be embraced, but they need to be managed carefully from a compliance perspective.

B-Compliant director, Vicky Pearce, said: “AI has transformed the way we work and firms must keep pace or be left behind. However, change within a regulated environment is challenging. Technology must be implemented in a structured way to ensure security isn’t compromised.”

We are recommending firms undertake a review of their AI usage to identify the main security threats. You should also understand how it can drive efficiency, innovation and improved service levels and apply essential compliance measures to meet your regulatory requirements.

Vicky added: “AI can be game changing, but it needs to be treated with the same caution as any cloud-based data handling service. Even top-notch tools aren’t foolproof and staff might do things that puts client information at risk. This is even tricker to manage without a clear picture of how they are being used.

“Ignoring the possibilities AI offers isn’t an option, but it is important to implement strong governance before adoption.”

We have made AI policy documents available to clients and encourage the use of audit logs to spot unusual activity. For more information about implementing AI policies or assessing the use of emerging technologies, don’t hesitate to contact us.