First holistic GRC platform to offer an AI
Governance Solution that empowers enterprises to govern AI model
usage and adoption throughout the organization using compliance,
cyber risk and third-party capabilities
CHICAGO, April 30,
2024 /PRNewswire/ -- LogicGate, the holistic GRC
experts delivering leading GRC solutions for cyber, governance,
risk, and compliance leader, today announced its AI Governance
Solution, purpose-built to enable customers to better govern and
manage the implementation and usage of AI technology throughout the
entirety of their organizations. AI is making a significant impact
in every industry and organizations are feeling immense
pressure to innovate with the technology at an accelerated pace.
The rapid adoption of this new technology into organizations,
coupled with nuanced data governance challenges and a
fast-evolving, global AI regulatory environment, presents a key
issue -- how do enterprises move fast and stay safe to effectively
leverage AI in their organizations? The LogicGate AI Governance
Solution is uniquely positioned to provide enterprises with a
solution to quickly adopt and holistically manage AI technology
across their organization, enabling them to stay competitive,
agile, and compliant while safely reaping the benefits of
AI.
LogicGate's AI Governance Solution is a simple, out-of-the-box
package that customers can deploy quickly and seamlessly. In
addition, operating in the flexible Risk Cloud platform,
LogicGate's AI Governance Solution will scale and adapt with
customer growth and support changes within the organization as AI
continues to quickly evolve and progress over time. With seamless
integrations into other Risk Cloud Applications, such as Cyber Risk
Management, Controls Compliance, Third-Party Risk Management, and
Policy & Procedure Management, LogicGate provides a unique
offering that delivers a highly connected AI Governance solution
for a holistic approach to governing and standardizing AI usage
across the enterprise. Core benefits of the solution include:
- AI Policy Management: A new capability enabling
organizations to reinforce AI risk tolerance with standardized AI
policies that are automatically distributed through Risk Cloud's
Policy & Procedure Management Application.
- Streamlined AI Use Case Approval: Create a
centralized submission, review, and approval process for every AI
use case and model so enterprises can enforce adherence and track
attestations across an organization. This process can stand alone
as its own application or augment workflows inside existing Risk
Cloud Applications.
- Holistic Cyber Risk Management: Identify and
centralize AI risks inside the Cyber Risk Register to automate
assessment, monitoring, and mitigation workflows.
- AI-Specific Controls Compliance: Leverage best
practices and control recommendations from NIST to stay ahead of
emerging AI risks.
- Third-Party AI Risk Management: Follow guidance
from Shared Assessments with an out-of-the-box third-party AI risk
questionnaire inside Risk Cloud's Third-Party Risk Management: SIG
Lite Application. This questionnaire helps teams identify which
vendors embed AI technologies into their solutions and the impact
they may have on business objectives.
"Fast and safe AI innovation is a top priority for leading
organizations, yet AI is a multi-headed beast, and a holistic
approach is critical to successful implementation," said
Matt Kunkel, LogicGate cofounder and
CEO. "You can't protect what you don't know you have, so you must
gain clear insight into every area AI is being implemented in your
organization. And, while speed versus control is a key point of
contention when it comes to enterprise AI adoption, organizations
can achieve both. Our AI Governance Solution will evolve and grow
with you and provide the tools and support needed to ensure
effective AI risk management and compliance across every aspect of
your business."
Alongside the Risk Cloud AI Governance Solution, LogicGate
introduces Risk Cloud AI, which accelerates GRC program success
with time-saving technology and intelligent recommendations
embedded across the Risk Cloud platform. All Risk Cloud AI features
prioritize customer privacy, security, and trust with an opt-in
approach to adoption. Current and upcoming features include:
- First introduced in June 2023, OpenAI Risk Cloud Connector
enables organizations to quickly generate policy documents and
summarize business-critical risk information with ChatGPT and Risk
Cloud in just a few clicks.
- Coming soon, Risk Cloud's AI Text Assistant
improves program efficiencies and outcomes with rapidly generated
stakeholder guidance and mitigation recommendations. This new,
native feature will launch with three core capabilities:
o Mitigation
recommendations: Accelerate resolution time and inform
mitigation strategies with AI-recommended mitigations.
o Form guidance: Improve questionnaire and assessment
completion rates with AI-generated form guidance for
stakeholders.
o Notification wizard: Save time and communicate more
effectively with stakeholders with clear and concise AI-generated
notifications.
- Available in late summer 2024, AI Controls Mapping will
streamline, scale, and mature compliance programs by automatically
mapping controls across the Risk Cloud Controls Repository with AI
analysis and recommendations. This capability extends to internal
controls where preexisting mappings from providers like SCF and UCF
do not exist.
"Artificial Intelligence represents the next major generational
wave of technology," said Jay
Jamison, President of Product & Technology at LogicGate.
"It's going to impact every organization in every industry, so it's
crucial that enterprises prepare themselves now to be able to keep
up with – and even exceed – the pace at which their competitors are
implementing and leveraging AI to positively impact their own
businesses. It's possible to move both quickly and safely with AI,
but this requires a solution with the adaptability and agility
required to grow with and support organizations throughout the
complex, yet richly rewarding, AI journey."
For more information about how LogicGate is empowering
organizations to holistically govern AI technology and enable fast,
secure AI innovation, visit www.logicgate.com.
About LogicGate
LogicGate® is a global, market-leading
SaaS company empowering customers to effectively manage and scale
their cyber risk and control, third-party risk management,
compliance controls, enterprise risk, and operational resilience
programs. Recognized by The Forrester Wave™: Governance, Risk, And
Compliance Platforms, Q4 2023 report as one of four leading global
GRC platforms, Risk Cloud®, is built with usability in mind,
including a no-code interface and graph-database management making
the technology flexible, agile and scalable to support various
levels of GRC maturity and bolster business outcomes. With an
unwavering commitment to fostering business resilience in dynamic
landscapes, LogicGate empowers customers to quantify risk,
strengthen their security posture, and have visibility into
information to create strategic advantages and support
business objectives. Learn more about our solutions by visiting
www.logicgate.com and/or join us on LinkedIn.
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SOURCE LogicGate