LogicGate, the holistic GRC experts delivering leading GRC solutions for cyber, governance, risk, and compliance leader, has officially announced the launch of a new purpose-built product called the AI Governance Solution. According to certain reports, the stated solution comes decked up with an ability to help users better govern and manage the usage of AI technology. More on the same would reveal how LogicGate’s AI Governance can also scale, as well as adapt to customer growth and support changes within the organization, a feature complimentary of AI’s tendency to evolve dramatically in a short time. Not just that, it also boasts integrations into other Risk Cloud Applications, such as Cyber Risk Management, Controls Compliance, Third-Party Risk Management, and Policy & Procedure Management, so to let users access a highly connected AI Governance solution. This, in turn, should present a holistic approach for governing and standardizing AI usage across the enterprise.
Talk about the whole value proposition on a slightly deeper level, though, we begin from the promise of AI-led policy management. Here, you basically reinforce AI risk tolerance with standardized AI policies that are automatically distributed through Risk Cloud’s Policy & Procedure Management Application. Next up, we must get into solution’s streamlined AI use case approval. The stated feature particularly involves creating a centralized submission, review, and approval process for every AI use case and model, thus allowing enterprises to enforce adherence and track attestations across the board. Markedly enough, such a process can stand alone as its own application, or if not that, it can also be used to augment workflows inside existing Risk Cloud Applications.
“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, cofounder and CEO of LogicGate. “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.”
Moving on, the solution in question even has AI-specific controls compliance, a feature where one can leverage best practices and control recommendations from NIST to stay ahead of emerging AI risks. We referred to the stated technology being well-equipped in terms of delivering holistic cyber risk management, but what we still haven’t discussed how the same can also help you automate assessment, monitoring, and mitigation workflows. Rounding up highlights for us would be the solution’s third-party management capabilities. These capabilities basically empower you to follow guidance from Shared Assessments with an out-of-the-box third-party AI risk questionnaire, available within Risk Cloud’s Third-Party Risk Management application: SIG Lite. The stated questionnaire, on its part, can help teams identify which vendors embed AI technologies into their solutions and the impact they may have on business objectives.
LogicGate also took this opportunity to launch a Risk Cloud AI solution, which accelerates GRC program success with time-saving technology and intelligent recommendations integrated throughout the Risk Cloud platform. At launch, this product will feature mitigation recommendations, form guidance, and notification functionalities that can help you communicate more effectively. Joining these capabilities soon would be an AI Text Assistant, who can improve program efficiencies and outcomes with rapidly generated stakeholder guidance. Apart from that, there will be a new AI Controls Mapping functionality to streamline, scale, and mature compliance programs by automatically mapping controls across the Risk Cloud Controls Repository.