Intelligent Automation – Realizing the promise of efficient risk and control coverage
PwC estimates that 45% of workforce tasks can be automated which could save an estimated $2 trillion in global workforce costs
Leveraging automation to deliver undiscovered value
In this digital revolution, executives driving a thoughtful innovation investment strategy have their work cut out for them. They must control and monitor a complex technology environment comprised of powerful applications, interfaces and processes that are increasingly being automated. Consequently, questions on how to manage the inherent risk in technology and automation are now at the forefront for executives from risk officers, compliance officers and controller groups to privacy officers and internal and external auditors. Properly leveraging automation holds vast potential to increase efficiency, Digital Risk Solutions and deliver undiscovered value.
Robotic Process Automation: Opportunity and responsibility for internal audit
5 key ways to embrace automation
Identifying the right automation tool, or combination of, in governance, risk management, compliance and security, depends on the needs of your organization. There are five key ways PwC is helping organizations effectively leverage automation in these areas as they move to a digital platform for the future:
- Configuration and security
- Risk and compliance analytics
- Robotic process automation
- Machine learning/Artificial intelligence
- Governance, risk and compliance technology
How PwC can help
Configuration and Security
Traditional IT automation techniques, typically defined to a single IT system or set of systems. PwC can help evaluate the right configuration and system-based tools to automate processes at a task level, aligned to the process automation strategy.
Risk and Compliance Analytics
Utilizing data inspection, cleansing, and modeling to provide data insights, conclusions, and predictions. PwC can help leverage advanced analytics in risk management, compliance, and continuous monitoring programs.
Robotics Process Automation
Application of software-based “robots” to assist with rules-based data wrangling, analysis, transacting, and reporting. PwC can help embed governance, risk management, and controls into your enterprise’s mobilization and deployment of RPA, so you can catch issues before they arise.
Machine Learning/Artificial Intelligence (AI)
Learning algorithms and intelligent systems that can perform tasks such as perception, interpretation, decision making. PwC can help evaluate opportunities, and build, train and leverage models.
Governance, Risk and Compliance (GRC) Technologies
End-to-end compliance management solution and workflow for all of these capabilities. PwC can help leverage GRC technologies to automate processes and tasks within the GRC and connected technologies.
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