Folksam engages external auditor to enhance information management

Folksam has decided to involve an external auditor to address longstanding information management issues within the organization. Various organizations have accumulated information across business systems, document management, email, and local folders. However, when this information is scattered across different systems and exists in multiple versions, the risk increases that employees work from different bases, leading to duplicate work, longer lead times, and uncertain decision-making processes.

Joakim Jannerfeldt, Vice President & Head of Columbus EIM, stated that unclear information creates uncertainty. He emphasized that if artificial intelligence (AI) is to provide relevant answers, it must be based on information that is accurate, coherent, and easy to find; otherwise, companies risk automating incorrect decisions instead of working smarter. When a solid information foundation is established, AI can help save time, reduce duplicate efforts, and provide better decision support.

Jannerfeldt also mentioned that the need for a strong information foundation should not prevent companies from starting to use AI. On the contrary, the technology can assist organizations in identifying where there is the greatest potential for business development.

In sectors with high quality and regulatory requirements, it is not enough for documents and data to be easily accessible; they must also be traceable and reliable. Jannerfeldt noted that well-thought-out information governance is crucial for both quality and compliance. When documents and data are traceable, compliance becomes a natural part of daily work rather than a separate project, providing AI with a reliable basis for decision-making, thus enhancing the organization's ability to make well-informed decisions.

As AI becomes integrated into operations, information governance shifts from being solely an IT issue to a strategic concern for the entire organization. Jannerfeldt concluded that many organizations are beginning with AI, but Folksam is starting with information. Only when the foundation is in place can companies achieve the productivity increases and decision support that AI has the potential to create. Dagens Industri reported the story.