1. Intelligent process automation for third party risk management in post-Covid-19 world.
- Author
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Nersekar, Swaraj, Pillai, Samaya, Hachem, Safa K., and Issa, Saif
- Subjects
ROBOTIC process automation ,ARTIFICIAL intelligence ,AUTOMATION ,COVID-19 pandemic - Abstract
COVID-19 has shown that risk is not one-dimensional. The influence of Covid-19 on risks arising due to breaches by Third-party and nth party ecosystem on organizations has been quick with wide range of consequences like reputational and financial losses. Although automation has been around and being implemented for quite some time now, there is a pressing need to incorporate intelligent decision-making systems in the outdated automated processes and practices that used rule-based manual risk assessments. The improvements in the field of Artificial Intelligence, Robotic Process Automation and related technologies have given rise to intelligent process automation, which can take advantage of these underlying technologies to effectively provision end to end actions on the risks arising due to third-parties. In academic research domain this area has remained under-focused. Hence this study tries to address this gap by introducing how intelligent process automation can aid third party risk management processes and proposes a conceptual model for understanding system can be put to use. Key challenges and opportunities are also provided in this qualitative research paper based on narrative literature approach. The study provides implications to developers for designing and developing Intelligent process automation tools for assessing risks associated with third-parties, it helps academicians to explore latest developments and technologies in the automation domain and to the employees of the existing organizations as it will help gain perspective of the underlying technologies involved in IPA and TPRM. [ABSTRACT FROM AUTHOR]
- Published
- 2023
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