Home » All Reports » Page 66
The Governance, Risk, and Compliance Services 2024 Market Insights™ assists organizations in identifying important demand-side trends that are expected to have a long-term impact on any governance, risk and compliance projects. The report also highlights key implementation challenges that enterprises face today.
: Enterprises are increasingly exploring generative AI (Gen AI) in their governance, risk, and compliance (GRC) initiatives to streamline standards implementation, enhance compliance, and improve the efficiency and accuracy of third-party risk assessments. At the same time, organizations face significant challenges from the evolving regulatory landscape, with new AI and data privacy regulations and complex geopolitical shifts creating hurdles, particularly for those with global operations. In response, these organizations are seeking technology partners who can reinforce their GRC frameworks and harness Gen AI to drive accountability, innovation, and regulatory agility. This approach not only addresses compliance needs but also enables proactive management of risks in a dynamic global environment. Both demand-side and supply-side trends are covered in our Governance, Risk, and Compliance Services 2024 Market Insights™ and Governance, Risk, and Compliance Services 2024 RadarView™, respectively.
The Governance, Risk, and Compliance Services 2024 RadarView™ assists organizations in identifying strategic partners by offering detailed capability and experience analyses for service providers. It provides a 360-degree view of key service providers across practice maturity, partner ecosystem, and investments and innovation, thereby supporting enterprises in identifying the right partner. The 53-page report highlights top supply-side trends in the governance, risk, and compliance services space and Avasant’s viewpoint on them.
The construction industry is undergoing a seismic shift, with technology driving safer, more efficient, and compliant operations. Nowhere is this transformation more evident than in earthworks. Once a labor-intensive, risk-prone process, earthworks is now being redefined through innovations like IoT, automation, and intelligent systems. These advancements are delivering measurable improvements, reducing costs, and ensuring compliance while laying the groundwork for a greener, smarter future.
Once a niche technology, generative AI is rapidly becoming a mainstream tool, offering unprecedented opportunities for innovation. Rooted in technology dating back to the 1950s, it has the hallmarks of a solid foundation, and companies are seizing the opportunity while it is still advantageous.
The nature of retail has changed. The Covid-19 pandemic marked a turning point, propelling forward the transition to e-commerce. Retail now exists in a middle ground, not entirely physical, not entirely digital, but a combination: phygital.
Enterprises are adopting multicloud environments and AI-driven automation to enhance operational efficiency and flexibility. As multicloud adoption grows, challenges such as cost inefficiencies, migration complexities, and integration issues persist. Addressing these challenges, Oracle announced at Oracle CloudWorld 2024 the integration of its Exadata database with AWS, enabling seamless multicloud connectivity, improved latency, and optimized costs. Oracle also introduced over 50 role-based AI agents in its Fusion Cloud Applications Suite to automate repetitive tasks using AI capabilities that adapt to changes and improve over time. These initiatives align with industry efforts by SAP, Microsoft, and Workday in leveraging generative AI to streamline sales, service, finance, and supply chain management functions.
Ray-Ban Stories, a collaboration between Meta (formerly Facebook) and Ray-Ban, represents a blend of classic eyewear design and cutting-edge technology. These smart glasses allow users to capture photos and videos, listen to music, take calls, send messages, and interact with social media, all while maintaining a stylish appearance.
Concerns about artificial intelligence’s (AI) potential to displace jobs and negatively impact creative endeavors are particularly prevalent in the media and entertainment industries. In May, Avasant’s Empowering Beyond Summit included a panel titled, “Reality Check: How can media survive the coming disruption?” Avasant Managing Partner Robert Joslin led Fay Wells, a technology and media entertainment executive; Bharat Krish, CPO of Newsweek; Ghalib Kassam, CIO of the LA Times; and Chad Hamilton, VP of Fremantle, in conversation about AI and the media. They spoke about the current capabilities of AI in content creation, the ethical concerns it raises, and the implications for human creativity.
Enterprises leverage cloud ERP systems to automate manual workflows, enhance financial reporting, optimize supply chains, and enable real-time data sharing across departments. By integrating generative AI, these systems deliver contextual insights through prescriptive financial forecasts, supply chain disruption alerts, and recommendations derived from both ERP modules and external data sources. Cloud ERP vendors are advancing automation with agentic AI solutions, enabling autonomous handling of customer queries, prioritization of sales leads, and resolution of transaction anomalies. Additionally, they are introducing ESG reporting capabilities for real-time emissions tracking, leveraging advanced analytics and integrated data from multiple entities.
Login to get free content each month and build your personal library at Avasant.com