A recent study published by Capgemini entitled ‘Turning AI into concrete value’ indicates that there is a close link between artificial intelligence and GDPR compliance. Capgemini interviewed almost 1000 organisations as part of the research across multiple industries, and the findings provide some food for thought for corporations that are evaluating how AI could add value to their businesses. 70% of the respondents who are currently deploying artificial intelligence applications on their IT networks claim that they are achieving greater legal/regulatory compliance at a lower cost. Given that the journey of becoming GDPR complaint will involve a significant investment for many multinational organisations, these research findings are particularly relevant.
The chief technology officer for the Insights and Data division at Capgemini, Mr Ron Tolido, stated that many companies in the EU and outside the EU are using AI to comply with regulations such as the GDPR. AI is being used in these organisations to detect the flow of personal data through companies IT infrastructure and to make sure that data use is compliant with GDPR. The industry sectors showing the highest adoption of AI in the report are those that are highly regulated such as telecoms, banking and insurance.
The Capgemini report also highlights that AI can play a significant role in the efficient and consistent execution of repetitive, process-driven activities in compliance. This point was backed up by a research fellow at MIT Sloan Business school, Michael Schrage, who says that AI will most quickly enter the industries that are most regulated.
On the regulatory side, the UK’s Financial Conduct Authority (FCA) announced in July 2017 that it is currently examining the use of AI for its enforcement purposes.
Elsewhere in the report, Capgemini also points to increases in inbound customer leads, reduced operational cost due to process improvement and increases in sales as some of the other benefits cited within corporations that have invested in AI application deployment on their network infrastructure.