The board of directors of a mid-size bank has recommended that the bank adopt the Basel principles for data aggregation and risk reporting. The bank currently has three different business units for its retail banking, commercial banking, and credit card operations. It also maintains some internally developed models and is introducing artificial intelligence (AI) techniques in data management. In assessing the impact and best practice of complying with the Basel principles for data aggregation and risk reporting, which of the following statements is most appropriate?