At the SECP Consultative Session on Risk Management and Corporate Strategies concerning Insolvency, Kanwal Cheema explained how Artificial Intelligence (AI) is reshaping business practices.
She shared that AI is now a powerful tool in managing risk and insolvency. It helps companies work faster, follow rules more closely, and make better decisions. As the economy continues to change, these tools are becoming even more important.
Key Takeaways
Early Detection of Financial Distress
AI can quickly identify warning signs. It reviews financial ratios and reporting patterns. As a result, companies can act before the situation worsens.
Regulatory Compliance and Reporting
In addition, AI helps companies follow legal rules. It checks reports for errors and highlights missing information. Therefore, it improves accuracy and reduces the risk of penalties.
Contract and Risk Analysis
AI reviews legal documents faster than humans. It spots unclear terms and flags potential risks. Moreover, it helps protect businesses from future losses.
Predicting Litigation Outcomes
AI studies old court cases to predict possible outcomes. Consequently, businesses can plan better for legal risks.
Reducing Bias in Decision-Making
Importantly, AI reduces personal bias in decision-making. Thus, it supports fairer and more reliable judgments in corporate governance.
AI Tools in Pakistan
For example, platforms like Waqeel AI, Munshi, and Park Laws are already in use. These tools improve legal research, check financial risks, and support corporate compliance.
Kanwal Cheema concluded by saying that AI will not replace professionals. However, it will support them. In short, AI brings speed, accuracy, and better insights into corporate strategy.
