What’s the one thing businesses want from their software investments? Quick results.
According to G2’s State of Software Report 2024, tools in design, hosting, and AI categories are leading the way in delivering faster ROI than any other software. And it’s no surprise—these tools are designed to fuel creativity, streamline operations, and drive business impact at unprecedented speed.
With Governance, Risk, and Compliance (GRC) ranking high in G2’s Momentum Score (second place after AI), it’s clear that businesses are increasingly embracing GRC solutions to address emerging challenges. As AI adoption grows, so do the complexities around data privacy, security, ethical concerns, and regulatory compliance. GRC solutions are critical in helping organizations navigate these challenges, ensuring accountability, mitigating risks, and fostering trust in AI-driven processes.
Scrut Automation’s #3 ranking among GRC products in G2’s report further underscores this trend, showing that customers are prioritizing tools to help them stay secure and compliant in a rapidly evolving digital landscape.
Let’s explore how these high-ROI categories are reshaping the software landscape—and why GRC enables businesses to innovate responsibly.
Read now: G2’s State of Software Report: Scrut ranked #3 in GRC Momentum
The Risks Behind the AI ROI
While the rapid ROI from design, hosting, and AI tools is a major draw, these technologies also introduce a range of risks that can undermine long-term business success if not properly managed. These risks can quickly escalate significantly when growth outpaces a company’s ability to safeguard its operations.
Design tools
With the rise of generative AI in design, businesses can create stunning visuals and content at lightning speed. However, this new technology raises concerns about intellectual property. For example, AI-generated designs might unintentionally replicate copyrighted materials, exposing businesses to legal risks. Additionally, ethical concerns around AI in content creation risk harming customer trust and business reputation without proper guidelines.
Read also: Exploring AI use cases in governance, risk, and compliance
Hosting platforms
Hosting platforms are vital for fast and reliable digital services but often handle sensitive customer data, making them prime targets for cyberattacks and data breaches. Without robust, updated security measures, they risk regulatory non-compliance, hefty fines, and data fragmentation issues that complicate adherence to data privacy laws.
AI applications
AI tools are revolutionizing industries by driving efficiency, but they also pose significant risks, including data privacy violations and algorithmic bias. Mismanagement of sensitive data can breach privacy laws like GDPR or CCPA, while biased AI systems risk unfair outcomes. As AI regulations tighten, businesses that fail to address these issues could face fines, legal challenges, and reputational damage.
Read also: Reinforce AI trust with ResponsibleAI
Why GRC is essential for secure innovation
GRC solutions are vital for businesses looking to capitalize on the benefits of high-ROI tools like design, hosting, and AI without falling prey to the risks accompanying rapid growth. By embedding GRC practices into daily operations, companies can innovate confidently while ensuring they meet regulatory requirements, protect customer data, and maintain ethical standards.
Ensuring integrity in design
Design is often the first touchpoint between a business and its customers, making it a critical area for risk management. For example, the ethical use of generative AI has raised significant concerns about intellectual property rights and content authenticity. Without proper GRC practices, businesses may find themselves in legal disputes over ownership of AI-generated works or face backlash for creating misleading or unethical content.
GRC tools provide businesses with the framework to ensure that design processes remain ethical and compliant. By establishing clear guidelines around generative AI, businesses can navigate the complexities of intellectual property and content creation while protecting their reputation. This is especially important in highly regulated industries such as finance, healthcare, and legal services, where compliance violations can have severe consequences.
Watch now: Responsibility AI: Beyond innovation, into accountability
Protecting data in hosting
Hosting platforms play a pivotal role in managing customer data, which is often a business’s most valuable asset. As hosting platforms scale to support users and offer more services, they become increasingly attractive targets for cybercriminals. GRC tools provide the continuous monitoring needed to detect security threats in real time and ensure compliance with ever-evolving data privacy regulations. For instance, businesses can use GRC solutions to track where their data is stored, who has access to it, and how it’s used, thus minimizing the risk of breaches and ensuring compliance with data protection laws like GDPR, HIPAA, and PCI-DSS.
By ensuring that hosting platforms meet high security and compliance standards, GRC tools help businesses keep their digital infrastructure secure while enabling them to scale operations without fear of regulatory violations.
Mitigating AI risks
AI is one of the most powerful technologies available, but its rapid adoption creates substantial ethical and legal challenges. From algorithmic bias to privacy concerns, businesses must implement GRC frameworks to ensure their AI systems are used responsibly. For example, GRC solutions help businesses identify potential biases in their AI models and offer tools to correct them before they lead to legal or reputational damage.
GRC tools also help with regulatory compliance. As governments worldwide begin to pass AI-specific regulations like the EU AI Act, businesses need a robust framework to ensure their AI tools remain compliant. Without GRC, businesses could unknowingly violate AI transparency, data collection, and algorithmic decision-making laws. These regulations are expected to grow in complexity, and GRC tools will be essential in managing this evolving landscape.
Read also: The Great AI Regulation Road Trip through ISO 42001, NIST AI, and Beyond
Conclusion
Fast-ROI tools like design, hosting, and AI are helping businesses achieve incredible growth, but the associated risks can derail long-term success if not managed properly. GRC is the key to using these tools securely and responsibly, ensuring businesses can innovate with confidence and avoid costly mistakes.
The digital landscape evolves constantly, with new risks and regulations emerging regularly. GRC solutions equipped with real-time monitoring help businesses stay ahead of these changes. Continuous tracking of risks and compliance status ensures that companies can quickly adapt to new challenges, whether it’s a sudden change in data privacy laws or emerging cybersecurity threats in hosting platforms. This adaptability ensures innovation stays aligned with both market demands and regulatory requirements.
Discover how Scrut can help you manage risk and compliance seamlessly, so you can focus on what really matters: growth. Schedule a demo with us today!
