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Regulators catching up on use of analytics; compliance better take notice

December 14, 2020

As we've noted in previous issues, there is a rising awareness across business functions of the power and dangers of predictive analytics. In addition to this article facing compliance teams, this one facing Chief Information Security Officers (CISOs) expects more AI/ML regulations at state and local levels and encourages designing for privacy and auditability from project initiation.

The title of this piece for compliance leaders does not capture the full scope of the article, which not only discusses how data will be used by regulators but also the need to ensure compliance of data analytics assets. Rather than getting their hands on the data, regulators will be more interested in program design and ensuring compliance teams are aware of data assets and usage, which often operates in a blind spot for compliance today. Once included, compliance will also need to learn to ask the right questions about how the company uses data so that it can prevent investigations, penalties and reputational harm.

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