The latest research and opinion from ACCA’s Professional Insights. We explore the big issues impacting business, the accountancy profession and the evolving wor...
Risk culture: Ensuring responsible AI innovation in healthcare
The discussion explores the intersection of AI and healthcare at MIT's Jameel Clinic. Ignacio Fuentes highlights their work in clinical AI, particularly in oncology, and drug discovery, including a new protein folding model. Frank Schuler emphasizes the role of accountants in building trust and managing AI risks in healthcare, suggesting future audits of AI systems. They discuss the importance of ethical decision-making, data quality, and regulatory frameworks. The clinic's global network of 43 hospitals aims to validate and implement AI models, enhancing early disease detection and clinical efficiency. The conversation underscores the need for collaboration among accountants, doctors, and policymakers to navigate AI's transformative impact on healthcare.
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Risk culture: Steering the future in the Middle East
The podcast discusses the integration of AI in healthcare across the Middle East, driven by initiatives like Saudi Vision 2030 and UAE AI Strategy. Yasir Ghani highlights the Emirati genome program, which uses AI for personalized and preventive healthcare. He emphasizes the challenges in implementing electronic health records, with 60% of healthcare organizations struggling. The conversation also covers the importance of cybersecurity, supply chain risks, and the need for robust risk management strategies. Additionally, Ghani discusses the evolving board composition in the UAE, with a focus on diversifying skills and expertise, and advises ACCA members to be strategic, proactive, and tech-savvy in their careers.
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Risk culture: Combatting fraud in healthcare
The discussion focused on fraud in the UK's NHS, highlighting its complexity and the need for robust risk management. Alex Rothwell, CEO of the NHS Counter Fraud Authority, detailed the extensive fraud landscape, identifying 124 types of fraud and corruption. Key risks include internal insider fraud, collaboration with external entities, and supply chain fraud. The NHS faces an annual fraud loss of £1.3 billion out of a £160 billion budget. Rothwell emphasized the importance of strategic intelligence assessments, proactive risk management, and international collaboration to combat fraud effectively. He also discussed the role of AI and machine learning in enhancing fraud detection capabilities.
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Risk culture: Accounting for cyber attack losses
In this episode we speak with Nick Sanna, founder of the FAIR Institute and President of Safe Security, about using the Factor Analysis of Information model, the only international standard for quantifying and accounting for cybersecurity and operational risks, including pervasive third-party risks as the world witnessed with the CrowdStrike incident. Nick explains how healthcare organisations in particular could be using this at scale to better assess and manage potential cyber incidents, considering the high-profile cyber attacks at United Health and the UK's NHS and, indeed, our current research on risk management in the healthcare sector.
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Risk Culture: The imperative of investing in behavioural insights
This episode discusses the why, how, and what of incorporating behavioural insights into corporate strategy and risk management. Our guests, David Grosse and Sandro Boeri, two seasoned experts who have been working on how to optimise such crucial information for many years, share their thoughts on how ACCA members can put this into practice.
The latest research and opinion from ACCA’s Professional Insights. We explore the big issues impacting business, the accountancy profession and the evolving world of work. From technology to talent management, our subject matter experts and guests discuss good practice from across industries to help you stay ahead in business and your career.
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