Updated: Mar 27
In this post we take a look at a new AI technology called ChatGPT from OpenAI. It can answer many of your questions, code for you, and even create songs in the style of your favourite artists. Of course, we were interested in whether or not it might be a replacement for a compliance expert. So we asked it some questions and here is what we found.
Why is compliance important?
How do organizations improve their compliance?
How do organizations meet their ESG objectives?
How do organizations build trust?
How do organizations contend with uncertainty and risk?
How do promises help meet obligations?
How do organizations become more proactive?
And for fun ...
And what did ChatGPT think about Lean Compliance?
I couldn't agree more with those principles.
So in terms of answering our questions the answers were good. The poem was not half-bad either.
However, when asked questions about "what should our organization do?" or "what are our top compliance risks" these of course could not be answered. However, this is what a good compliance expert can provide and why you will always need people in the compliance role.
Decision making that involve taking risks is something that only people can answer for.
As T.S. Eliot wrote,
"It is impossible to design a system so perfect that no one needs to be good.”
Deciding what is good or bad is a human choice. Being good and using technology for good are also human decisions.
I am sure that AI will continue to develop and so will ChatGPT. It may one day find a home within organizations. So far the costs are prohibitive - "eye watering".
However, it would be great to ask questions like: "Do we have a policy that covers xyz", "What applicable regulations will this action impact?", "What commitments have we made to this ESG objective?", "Calculate our reputational risk if we go ahead with this action?" and so on.