Why Human Oversight is Needed for AI Adoption in Risk and Compliance

Why Human Oversight is Needed for AI Adoption in Risk and Compliance

According to Thomson Reuters’s 2nd annual Future of Professionals Report, 89% of professionals in risk, fraud, and compliance fields see artificial intelligence (AI) as having a positive impact. The report also found that 78% of respondents from diverse professional backgrounds believe AI is a force for good. Additionally, 77% of participants expect AI adoption in risk and compliance to significantly affect their work within the next five years, indicating a growing acceptance in traditionally cautious fields.

In risk and compliance, professionals increasingly rely on AI to navigate complex regulatory environments and manage vast amounts of data. AI-driven tools enhance productivity and efficiency, particularly in corporate functions like compliance and risk management. Generative AI (GenAI) is already used in tasks such as drafting, summarization, and research, with 75% of risk management professionals using AI as a key part of their work processes.

GenAI’s ability to generate reports, summaries, and insights is particularly valued, helping professionals communicate findings and make informed decisions. However, despite AI’s growing role, 80% of risk, fraud, and compliance professionals believe that AI should not replace human judgment in critical decisions, underscoring the importance of human oversight in AI technologies.