In the relentless chase for innovation, it's easy to get caught in the dazzling allure of AI. Everywhere you turn, AI seems to be the silver bullet, the answer to every conceivable problem. Yet, when it comes to the realms of Governance, Risk Management, and Compliance (GRC), the echoes of enthusiasm seem to fade into whispers. In recent discussions with industry colleagues, a consistent theme emerges – a notable ambivalence towards AI-based GRC solutions. Is it a case of battling with the basics, or perhaps, a deeper skepticism towards the AI hype?
Over the past fortnight, I embarked on a quest, engaging with 21 clients, probing their true desires and needs in GRC solutions. Their insights were illuminating. What surfaced was not a plea for more AI but a yearning for something far more profound and fundamentally simple: software that transcends the mundane 'forms and grids', a tool that fosters genuine engagement with stakeholders, seamless integration of documents and references without the dread of 'heavy lifting', and the magical ability to weave together proprietary data, public information, and innate company wisdom into actionable insights.
This collective feedback is a clarion call for a paradigm shift. It's not AI in isolation that organizations crave but a system of intelligence – a harmonious blend of data, artificial intelligence, and user experience (UX) that together forge a solution that is not only smart but also intuitive, inclusive, and integrative.
In my 2018 book, "Chasing Digital," published by Wiley, I explored this very concept. The essence of my argument was that the future isn't about AI technology standing alone; it's about creating ecosystems of intelligence that seamlessly integrate with the way humans work and think. It's about designing GRC solutions that are as much about the human experience as they are about technological sophistication.
Think about it. The challenges of governance, risk management, compliance, and even vendor risk management are not just boxes to be ticked. They are complex, dynamic systems that require nuanced understanding, continuous engagement, and proactive management. What's needed is not just another tool but a partner in decision-making, a conduit for collaboration, and a catalyst for innovation.
The quest for such a solution is not about chasing the latest AI trend. It's about understanding the core needs of organizations and their stakeholders. It's about building systems that empower rather than overwhelm, that enlighten rather than obfuscate. It's about crafting experiences that bring people together, harness collective intelligence, and drive meaningful action.
As we look beyond the AI hype, let's focus on creating GRC solutions that matter. Let's invest in systems of intelligence that are deeply human in their understanding, agile in their adaptation, and expansive in their capacity to integrate and innovate. The future of GRC is not just about managing risks but about enabling possibilities. It's a future we can build together, with intelligence, insight, and, most importantly, empathy.
In this journey, the path is clear. We must move beyond mere technology to embrace systems that are truly intelligent, not because they can think, but because they can help us think better, act wiser, and engage deeper. Let's chase not just digital but wisdom, not just data but insights, not just automation but augmentation. In the realm of GRC, let's craft solutions that are not just smart but also wise.
