From medium.com
In the modern interconnected business landscape, third-party vendors play a crucial role in boosting efficiency and fostering innovation. However, this reliance also exposes businesses to substantial risks that can compromise security and compliance. The rising number of incidents involving breaches of duty by third parties highlights the inadequacy of traditional periodic assessments in effectively managing these risks. The future of third-party risk management lies in harnessing the power of AI-driven continuous monitoring systems.