Generative artificial intelligence (GenAI) represents a paradigm shift in today’s reality, influencing every major area of the enterprise function. Organisations in every sector look for ways to capitalise on the operational and functional efficiencies that the tool enables. Compliance represents one of the more challenging yet vital functions in enterprises, often pressured with ever-evolving regulatory requirements across industries; the complexity, resource intensity and the high cost of failure emphasise the high risk of the function. Artificial intelligence offers the opportunity to automate, standardise and streamline the organisation’s compliance areas, such as data governance, risk detection and response, policy management, continued monitoring and reporting, compliance and risk assessment. This paper provides a highlevel guideline for evaluating the enterprise compliance function for GenAI implementation while addressing its regulatory requirements and implementation challenges. It summarises key areas of AI implementation in compliance with an example of GenAI implementation at StrategyBRIX. This paper covers best practices for implementing GenAI, including data readiness assessment, organisational fit test, data privacy, security and scalability, challenges and regulatory requirements and maintenance of an AI programme. This paper concludes with practical next steps and further considerations for a GenAI enterprise adoption. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
Randhawa et al. (Sun,) studied this question.