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TLDR:
In this article, IBM CEO Arvind Krishna discusses the role of technology in enhancing productivity and regulatory compliance in the banking and pharmaceutical industries. Krishna highlights the importance of leveraging AI to automate regulatory compliance processes, such as analyzing regulatory documents to extract obligations and determine whether the organization is meeting them. He believes that this approach can make life easier for employees dealing with regulators, create better products, and streamline processes in various industries. Krishna also expresses his excitement about the prospect of working with pharmaceutical companies to optimize their regulatory compliance practices.
In the interview, Krishna emphasizes the need for technology to transform industries and optimize processes. He explains that large banks have thousands of people who deal with regulators and that IBM aims to make their lives easier by using AI to analyze regulatory documents. By extracting obligations from these documents and determining whether the bank is already meeting them, the system can provide real-time feedback and help employees streamline their work.
Krishna also sees potential for this approach in the pharmaceutical industry, where regulatory compliance can be a major cost and bottleneck. By automating compliance processes, pharmaceutical companies can improve productivity and accelerate their operations. He expresses his enthusiasm for working with pharmaceutical companies to optimize their regulatory compliance practices and improve efficiency.
This interview with Krishna highlights the transformative impact of AI and technology in optimizing processes across industries such as banking and pharmaceuticals. By automating regulatory compliance processes, organizations can enhance productivity, reduce costs, and improve overall efficiency. Krishna’s insight provides valuable perspectives on the potential benefits of technology in regulatory compliance and its implications for various industries.
