A CoPilot for Risk

Post the #Microsoft #Build conference we have gotten to understand more about the capabilities that are starting to emerge with the M365 CoPilot. The capability for the agent to search, understand, concatenate, and create compelling content is amazing to watch. (note: the Book of News for Build is at this link )

The potential for these agents to empower human creativity is amazing, but like with all innovative technology the onus is on the digital savvy to help the less so not get left behind.

Two things have struck me as being opportunities in this space this week. The first is that the need for efficient, real-time process and risk management practices has never been more important. If we add into this mix the constantly changing compliance regulations, we can see that companies are facing a significant challenge.

This is where Generative AI holds the potential to streamline operations and improve risk management and compliance mechanisms by directly supporting the end users. As with all technology the larger risk is usually associated with the soft, biological bit at the end of the computer.?

Efficiency Checking in Real-Time

Businesses are often bogged down by what I describe as 'corporate scar tissue' lengthy, intricate processes that slow down operations. Using the new capabilities of generative AI, we can help to speed up the simulation and prediction of outcomes of different process pathways in real time. By automating and optimising these workflow designs, businesses can streamline their operations and make data-driven decisions.?

Risk Management

Effective risk management requires proactive identification and mitigation of potential risks. Generative AI can assist by analysing vast amounts of data to identify patterns and predict potential risks. These risks could range from operational risks, such as bottlenecks in production or service delivery, to strategic risks related to market shifts or competition. By assessing the possible impacts of these risks on company objectives in real time, generative AI enables companies to swiftly address potential issues before they escalate, thus minimizing negative impacts.

Compliance

In the Water industry we often face a changing regulatory environment, compliance is a moving target. Generative AI can support businesses by continuously monitoring regulatory changes and automatically updating internal policies and procedures to maintain compliance. It can cross-reference regulatory documents with internal procedures to detect potential non-compliance issues and even generate compliant procedures and policies.?

Where Copilot meets Compliance and Risk

Taking the above into consideration we can start to envisage a scenario where humans are using the capabilities within M365 CoPilot to rapidly create new, compelling content. However, as we are all aware this will only be as useful as the data (and its quality) that is used to create the net new. Imagine now another AI that is specifically told that it is the leading expert on your company's policies and procedures in relation to risk and compliance. This AI would be there to help to point out to end users where their newly generated assets may need looking at. The purpose being that we use the tools to not only augment the human in terms of speed of productivity, but also as a way to make them Think and Learn.

We are already seeing customer stories in this area like this one from Strabag .

Microsoft Customer Story-Strabag SE builds a risk management solution to improve efficiency using Microsoft Intelligent Data Platform

AI isn't a Silver Bullet

While the potential of generative AI is vast, it's important for us to remember that it's not a silver bullet. AI technologies should be seen as tools to augment human decision-making, not replace it. Their implementation should be carried out responsibly, considering ethical implications and potential bias in AI-generated outputs.

To that end I'm also going to share this new blog post that outlines how Microsoft are thinking, acting and helping society come to terms with our new #AI reality.

Announcing Microsoft’s AI Customer Commitments - The Official Microsoft Blog

There are a wealth of assets and thinking available on the link above and are a great start point for companies thinking about establishing a responsible AI group. As we've outlined above, Generative AI represents a significant leap forward in the quest for real-time business efficiency, effective risk management, and streamlined compliance. As we grapple with an increasingly complex business environment, the intelligent application of AI could well be the key to staying one step ahead.?