Podcast: Jenna Wells on Leaning In on AI

Picture yourself in a bustling corporate setting with an extensive network of suppliers numbering in the thousands. As a member of the compliance team, your responsibility entails assessing the risks associated with each supplier. This involves delving into intricate details such as ownership structures, sourcing practices, manufacturing processes, and a myriad of other data points for every single one of them.

Undoubtedly, this is a formidable challenge. Yet, Jenna Wells, Chief Customer and Product Officer at Supply Wisdom, advocates for the integration of AI into such endeavors. With human oversight, AI has the potential to assist in tackling this seemingly insurmountable task.

Wells contends that AI can serve as a valuable tool for enhancing compliance programs, enabling a deeper understanding of risks and facilitating prioritization of crucial areas.

Achieving this goal necessitates that compliance teams break down data silos and tap into external sources for regulatory insights and emerging legislation, Wells suggests.

Nevertheless, it's imperative to recognize the boundaries of AI. While adept at handling labor-intensive tasks like sifting through vast amounts of vendor data, the human touch remains indispensable.

Tune in to explore how leveraging the capabilities of AI can bolster your compliance initiatives.

Source: Jenna Wells on Leaning In on AI [Podcast] - The Compliance and Ethics Blog by SCCE & HCCA