Artificial intelligence has become a big technology hit in the last year, bringing with it huge promise and potential. Businesses in every industry are eager to leverage AI to improve customer experience, increase operational efficiency, and gain a competitive advantage. And so, in small or big steps, companies and their executives are integrating AI throughout the organization.
However, we can observe a significant gap: they currently lack the control mechanisms and processes necessary to effectively manage and govern AI. An extremely important aspect for any organisation is data security and privacy implications.
AI Use Case Management
AI models survive and grow on a healthy diet of data. Using this technology requires organizations to feed it with their own information and, in some cases, that of their customers. Any organization that wants to benefit from the use of AI must understand why and how data is processed, while also complying with customer privacy and regulatory requirements.
The Risk Cloud AI use case management application allows you to document and evaluate AI models and use cases on one centralised platform. It standardizes a scalable process for assessing and approving AI technologies while ensuring compliance with AI policies and regulatory compliance requirements. Manages the implementation of AI models, evaluates data integrity, and identifies potential risks through ready-to-use review and attestation workflows.
Artificial intelligence certainly presents its fair share of risks, but we believe that with appropriate security measures, it will revolutionise the way organisations approach GRC. Looking to the future, there is a need to innovate quickly while staying safe with responsible AI capabilities and management solutions in the Risk Cloud.
AI Governance Solution
The Risk Cloud AI Governance solution combines holistic AI governance workflows with AI-powered features such as automatic policy generation and risk data summarization to help teams do more with less. Driven by LogicGate’s own AI workgroup, these new, optional features help you maximize resource efficiency – without compromising expectations or program outcomes.
It comprehensively manages AI technology and enables secure innovation through scalable workflow automation and reporting in the Risk Cloud. Seamlessly integrates data and workflows across cyber risk, compliance, policy and third-party risk management programs to identify, assess and mitigate AI risks across the extended enterprise.