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By aligning with these practices, they not only improve their corporategovernance approach beyond the minimum requirements but also enhance the overall company performance. AI risks are more unique than what an enterprise risk library would traditionally see and can have a global impact larger than initially predicted.
These regulations raised the standard for good governance: a key vector of ESG. Much like the economic crash that took place 14 years ago, the COVID-19 pandemic shot up a flare that illuminated new risks and opportunities on the ground. As a result, we have the ability to move a story across the globe – sometimes within just minutes.
Cloud-based solutions also make sense for GRC – especially in the context of the COVID-19 pandemic. Organizations need to achieve their business goals reliably (governance), while addressing uncertainty (risk management), and acting with integrity (compliance). That’s time and money that might be better spent elsewhere.
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