We can help you leverage the power and versatility of AI to reach new levels of organizational excellence. Starting with defining an AI strategy to develop new business models, and improve outcomes in key areas of your operations, we can help you along every step of the journey as you turn data into insights and apply them.
Embracing digitized ways of working has resulted in many organizations adopting rudimentary artificial agents to automate repetitive processes. In order to increase the breadth of coverage of these solutions, Artificial Intelligence (AI) is increasingly being employed. However, it brings new risks and governance challenges that continue to act as a barrier to scaling.
In order to navigate these risks, organizations must understand their current exposure, ensure AI outcomes are validated for both efficacy and ethics, put in place governance that supports the maintenance of these outcomes, and ensure they are ready for crises when they occur.
Our legal, risk and technology experts have experienced how cognitive technology is put into real-world action, working with you to design and implement trustworthy AI-driven products that put your business at the cutting-edge. Within the AI spectrum, we can perform AI risk assessments and gap analysis to identify those solutions that exhibit issues or shortcomings with respect to ethical values and principles.
Deloitte can assist in performing maturity and control assessments on processes and controls that guide organizational AI, and identify deficiencies that can lead to potential non-compliance. Our legal experts can offer comprehensive guidance on navigating the complexities of the AI Act, ensuring compliance with its regulations and requirements. They can also assist in developing robust strategies for digital compliance of AI systems, addressing issues such as data protection, transparency, accountability, and ethical considerations to mitigate legal risks and foster trust in AI technologies. Deloitte experts assist their Clients in many aspects of data management, from creating a data management strategy, delivering data deletion solutions to implementing data migration projects.
Ultimately, we can help you reach AI insights and engagement by using Deloitte developed next-generation autonomous algorithms, generating insights from your data, and enabling more autonomous and explainable decision making.
For many organizations ‘becoming digital’ has involved large-scale automation of repetitive processes, and Artificial Intelligence (AI) has played a role to increase the breadth of coverage. However, it brings new risks and governance challenges that continue to act as a barrier to scaling, and prompted many to question the legitimacy of the role of technology in organizations and society at large. How can we find the balance between innovation, control and sustainability?
In order to navigate these risks you must:
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Understand your current ‘AI risk’ exposure,
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Ensure AI outcomes are validated for both efficacy and ethics,
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Put in place governance that supports the maintenance of these outcomes,
Increasing complexity and lack of transparency around controls and algorithms design, inappropriate use of machine learning and further tools (referred to nowadays as AI), furthermore weak governance are specific reasons why algorithms are subject to such long risks as biases, errors, and malicious acts we face nowadays.
We at Deloitte help our Clients overcoming these issues with their existing solutions already using digital controls or with their new developments utilizing a variant of how a digital control can appear.
Even if the actual control is an IT development, its effects and results can escalate quickly to an unforeseen situation that can lead to not just financial losses but even reputation issues.
Data governance stands for all the processes, controls, and further activities (planning, implementation, monitoring) over the management of data as an asset. Developing a strategy for this is essential due to the new challenges of modern organizations partially due to regulatory expectations and especially if an organization wants to transition to a data-driven operation (insights driven organization).
Besides the conceptual framework and high-level action points, it also consists of activities that need to be carried out on a daily basis, such as but not limited to:
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Understanding and prioritizing data as a business asset.
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Defining, approving, and communicating the data governance strategy, policies, architectures, procedures, and corresponding metrics.
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Representation of key topics in the organization: data quality, availability of data dictionary, data security, BI, availability of historical data.
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Monitoring and validating regulatory compliance and internal compliance with data management policies, standards, architectures, and procedures.
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Supporting, monitoring, and supervising the implementation of data management projects and services.
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Managing and solving day-to-day challenges related to data in accordance with guidelines and regulations.
Privacy and Data Protection issues present a growing challenge for organizations. Complying with the associated requirements ensures there are no unforeseen interruptions to your operations. Customer and employee concerns over personal information and sensitive data can lead to reputational risk. Breaches in data protection legislation can inhibit organizational change and adversely affect technology integration.
The EU has led government data privacy initiatives to protect the privacy of its citizens. The US has a combination of legislation to protect the citizens' rights (COPPA, CAN-SPAM) and sector-led initiatives to protect the privacy of patients and customers (HIPAA, GLBA). It is no wonder that many organizations doubt the status of their data privacy control and even whether their data processing would stand up to detailed scrutiny.
Ensuring Data Privacy
Our services allow you to make maximum use of the data within your databases and systems, in confidence that you are in compliance with data privacy regulations. We can provide a compliance management strategy for cross-border data flows and a framework of policies, procedures and local guidance. Our services also help you set up sound outsourcing agreements with respect to the processing of personal data, and enable sound decisions on data centre consolidation.
In order to help gain confidence in compliance and in the effectiveness of your data privacy policies, we provide:
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A compliance management strategy for cross-border data flows
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A framework of policies, procedures and local guidance
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Registrations and notifications with national authorities, where and when applicable
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Binding corporate rules as a means of facilitating the transfer of personal information and as a serious alternative to other compliance mechanisms
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Third-party processor agreements with respect to the disclosure of personal data
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Management of key issues, such as employee monitoring, complaint handling and subject access request procedures
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Training and awareness tools and materials
Success is not a one-off event and requires ongoing attention and hard work. We aim to build sustainable control and can engage with you on an ongoing basis to continuously monitor effectiveness and efficiency of the controls and security.
