Key facts
- Nearly half of risk and compliance professionals (46%) describe the current impact of AI as moderate.
- Only 30% of professionals report seeing the significant benefits they expected from AI.
- Lack of internal expertise or skills is the top barrier to AI adoption at scale, cited by 41% of respondents.
- Regulatory uncertainty or compliance risk is the second-largest barrier (33%).
- 59% of active AI users rate their data as high quality, compared to 69% of non-users who report inconsistent or unstructured data.
- Comprehensive training (44%) and a strong AI governance framework (43%) are the most desired safeguards.
The adoption of artificial intelligence in risk and compliance functions has surged, with over half of professionals now actively using or trialing the technology, according to a recent study by Moody's. This represents a significant increase from 30% in 2023, indicating a widespread move beyond exploration into active implementation.
Despite this adoption boom, the practical impact of AI is proving more moderate than initially anticipated. Nearly half of respondents (46%) described the current benefits as moderate, with only 30% reporting significant advantages. This suggests that real-world experience has tempered expectations, as those merely considering AI often perceive greater potential benefits than current users.
The primary barriers to achieving transformative results at scale are not technological, but rather human and systemic. A lack of internal expertise or skills was cited by 41% of respondents as the top challenge. Other significant hurdles include regulatory uncertainty or compliance risk (33%), difficulty integrating with legacy systems (30%), and insufficient budget or resources (27%).
To bridge the gap between AI's promise and its impact, organizations are advised to focus on data quality, investing in people and processes, and redefining professional roles. The study found that active AI users tend to have higher data quality than non-users, and that upskilling teams through comprehensive training and establishing strong AI governance frameworks are crucial for building trust and competence. The future of compliance is seen as a collaborative one, with 96% of respondents believing their roles will evolve to become more strategic, focusing on advisory responsibilities, exception handling, and supervising AI systems.