As we venture deeper into the digital era, the role of Artificial Intelligence (AI) in Governance, Risk Management, and Compliance (GRC) cannot be overstated. Cognitive GRC (what GRC 20/20 refers to as GRC 5.0: Cognitive GRC) is the intersection of GRC and AI, promising a future where GRC is not just a bureaucratic necessity but a strategic enabler of business performance and resilience.
Cognitive GRC refers to the application of AI (cognitive technologies) to GRC functions, effectively facilitating intelligent, automated, and informed decision-making processes that minimize risk and ensure compliance. AI brings unprecedented efficiency, effectiveness, resilience, and agility through the cognitive automation of GRC, allowing organizations to respond proactively to risks and compliance and gain insights to navigate the organization and achieve objectives in an era of uncertainty.
Consider the following AI technologies and some examples of their potential Cognitive GRC use cases . . .
[The rest of this blog can be read on the TruOps blog, where GRC 20/20’s Michael Rasmussen is a guest author]