Are you using machine learning, big data, artificial intelligence, or other Software-as-a-Service (SaaS) technologies that require your organization to be compliant with various industry regulatory requirements? If so, you need a robust information security policy.
Today, businesses face increased cyber threats from internal and external parties. Competition has led to a rise of bad actors who will do anything to get ahead, including compromising their rivals’ data networks. IT managers, therefore, need to put risk management on the frontline to secure their organizations. This can be achieved through compliance technology.
What Is Compliance Technology?
Compliance technology covers a broad range of practices meant to help organizations to be compliant with regulatory information security requirements. In the past years, compliance technology only covered the management of data stored by companies. However, today, its scope has broadened to include arising issues related to data security.
Over the past years, various cybersecurity regulations have been implemented across the world. Two of the recent regulations that affect technology businesses are the NYDFS 3 NYCRR Part 500 and the European Union’s General Data Protection Regulation (GDPR). In the west coast, California passed the Consumer Privacy Act 2018, which outlines new rules to be followed by companies that collect or handle consumer data.
2018 also saw an update of various security standards, including the Payment Card Industries Security Standards Council (PCI SSC), the Committee of Sponsoring Organizations of the Treadway Commission (COSO), and the International Standards Organization (ISO).
With the many industry data security requirements in place, it is important for organizations to have a single place from where they can monitor, manage, and update their security policies. This is where automated compliance technology comes in.
What You Should Know About Automated Compliance Technology
Automated compliance technology is a technology that allows businesses to automatically update their security compliance policies based on pre-set industry guidelines. By implementing the technology, organizations can be sure of always being in the good books of regulators and, therefore, avoiding potential heavy fines.
Automated compliance technology is usually deployed through software, which can be customized to enable IT, managers, to keep tabs of changing industry regulations. For example, the software can be customized to send reminders on scheduled compliance checks, alerts when non-compliant actions are detected, audit documentation summaries, and much more.
Using an automated compliance software will save your organization a lot of time on monotonous administrative tasks related to collecting and reviewing documentation.
Managing Compliance Using Big Data
Big data can make compliance management easier for organizations. You can use big data to get a summary of compliance information across all facets of your enterprise.
When it comes to security compliance, there are many tools you can use to determine the status of your company’s compliance. For example, big data can help you track “zero-day attacks” as they happen, and also detect vulnerable systems in your network before they are compromised.
In a nutshell, big data is an invaluable technology for determining your network security relationships with other third-party vendors. The technology can help to uncover threats arising from various players in your ecosystem, which means you can mitigate their effects on time.
Managing Compliance Using Artificial Intelligence
There are various forms of artificial intelligence (AI) compliance technologies. AI uses software and hardware to compute, compile, or carry out monotonous tasks.
Traditionally, AI focused on using machines to do tasks such as formulating plans, reasoning, using tools, and so on. For example, AI can compile information from the internet and extract particular components based on specific inputs. For compliance purposes, you can set AI software to scour the internet for compliance requirements in your industry.
AI software can also identify compliance risks in your organization and assign threat levels to each of them. This way, the IT security department can know the critical compliance areas that they need to work on to prevent internal or external data threats.
Finally, AI technology can make compliance easier for organizations by reviewing different regulatory policies and comparing their similarities. With this information available, companies can skip many regulatory framework items by taking a holistic approach to data security management and compliance requirements.
Role Of Machine Learning In Compliance Requirements
Machine learning technology stems from artificial intelligence. With machine learning, various software and hardware can be used to teach big data to compile and compute data, draw patterns, and make accurate predictions.
For example, you can use machine learning software to compile the occurrence of ransomware threats, find patterns in the way they are carried out, and compare the information to your data systems to uncover vulnerable areas that can be penetrated by third parties. Machine learning software can also suggest review actions that IT can take to secure the networks and make them hard to be compromised by attackers.
The above is an overview of what IT managers should know about automated compliance technology.