Using ChatGPT as an Enabler for Risk and Compliance


Organizations face many challenges regarding cybersecurity, including keeping up with the ever-evolving threat landscape and complying with regulatory requirements. In addition, the cybersecurity skill shortage makes it more difficult for organizations to adequately staff their risk and compliance functions. According to the (ISC)2 2022 Cybersecurity Workforce Study, the global cybersecurity workforce gap has increased by 26.2%, with 3.4 million more workers needed to secure assets effectively.


Organizations must employ technologies like artificial intelligence (AI), collaboration tools and analytics to cope with the situation efficiently. To that end, ChatGPT can be an enabler for organizational governance, risk and compliance (GRC) functions.


ChatGPT Addresses Typical GRC Use Cases


A significant advancement in natural language processing (NLP) technologies has allowed for more accurate and nuanced language analysis, leading to better and more reliable insights. By leveraging the power of NLP technology, ChatGPT, the AI-based chatbot developed by OpenAI, can generate coherent and relevant responses to a wide range of questions and topics. Some reasons for ChatGPT’s popularity include the ability to understand human language and context, tailor responses based on previous conversations and retrieve vast amounts of information. ChatGPT is powered by GPT-3.5-turbo, OpenAI’s most advanced language model. OpenAI has also developed various language models with different capabilities and use cases, like Codex, DALL-E, Ada and Davinci.


With ChatGPT, GRC analysts have a valuable tool to use in navigating the world of risk and compliance. Let’s explore some of the GRC use cases ChatGPT can address. 


Generate Framework, Policy and Procedure Documents


GRC analysts can use ChatGPT to generate draft policy or procedure documents by supplyi ..

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