StarCompliance, a global leader in employee compliance technology solutions, has released findings of its AI & Compliance Market Study, which examines how financial services firms are integrating artificial intelligence (AI) into their employee compliance operations. The study clarifies how ready the industry is to adopt AI for enhancing regulatory compliance monitoring.
The results show a sector still in the early stages of AI adoption – but building momentum. While 52% of firms report using preliminary AI tools for tasks such as information retrieval and data enrichment, only 9% have adopted more advanced “automated regulatory intelligence” platforms. This number is expected to grow significantly with over 60% of firms responding they anticipate using more sophisticated AI tools by 2030.
Despite this optimism, data privacy remains a top concern with 65% citing data protection as the primary barrier to AI adoption. Additionally, 71% of firms noted these concerns are driven by the volume of sensitive data required to support AI models.
Also Read: MedTrainer Announces Partnership With Paylocity to Simplify Healthcare Workforce Compliance
“At Star, we’re committed to responsible AI—both in how we build it into our products and how our teams use it internally,” said Kelvin Dickenson, Chief Product Officer at Star. “Our AI governance policy ensures the right checks and balances are in place to accelerate innovation safely, while maintaining the highest standards of data protection.”
Other Key Findings:
- 47% take a “learn as I go” approach to AI education
- 70%+ have formal AI usage policies; 51% block open-access AI tools entirely
- 43% are concerned about bias in AI-generated outputs
- Closed-source AI (e.g., Gemini) is more popular (41%) than open-source (e.g., ChatGPT at 32%)
- 50% don’t factor AI capabilities into vendor evaluations
Source: PRNewswire
