Compliance officers should now add artificial intelligence (AI) to the list of things they need to worry about, the Justice Department says. It has issued the Evaluation of Corporate Compliance Programs, a guidance document for lawyers and compliance officers that asks them to be aware of the line between taking advantage of AI’s potential benefits and being aware of the risks it poses to their company’s business and its compliance program. The guidance also makes changes to an area of focus closely related to the use of AI: how companies use internal data to strengthen their compliance programs. “If they see that internal audit or some other department has impressive data analytics capabilities, and that the compliance function is doing nothing, that’s going to look bad,” said Gerry Zack, chief executive of Society of Corporate Compliance and Ethics, a support organization for compliance professionals. The guidance also incorporates new questions about how companies promote a speak-up culture and deal with employees who report misconduct internally.
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