AI systems are everywhere. Is your business ‘AI risk ready’?
Embracing AI puts you in line for greater operational efficiency and a competitive advantage when it’s properly leveraged and understood. Hand in hand with this, there has been a rise in Regulatory scrutiny surrounding AI Governance (the EU AI Act, US AI Executive Order, and more), not being ‘AI risk ready’ ahead of time leaves you open to compliance, cost, security, and reputational concerns down the line.
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Mitratech’s AI Governance technology helps you automate the discovery of AI models used across your organization and third parties, perform powerful risk assessment against recognized AI frameworks (e.g. NIST AI Risk Management Framework), and validate that appropriate controls are in place to mitigate and consistently monitor AI risk exposure. All within one robust and automated GRC platform.
An intuitive GRC tool that makes it easy to fully embrace AI
Gain transparency on AI models and usage across your organization and third parties
Mitratech’s solution provides a complete inventory of AI and ML technology used across the enterprise through scalable assessments and leading discovery capabilities.
Manage and monitor the end-to-end AI application lifecycle
Identify and evaluate the risks associated with AI, implement controls and governance mechanisms, mitigate and monitor risk levels associated with AI, and report on those risks with an easy-to-use solution.
Hold AI models to high account against leading laws and frameworks
Follow best practice for your unique organization to ensure your AI usage is sufficiently managing algorithmic bias, privacy concerns and related safety risks.
Go where your IT team can’t
Extend governance and controls to AI outside of IT’s control with AI Application Identification and AI Application Ongoing Version & Change Control Management – unique to Mitratech.
Learn more about how Mitratech’s AI Governance Solution can be designed to suit the needs of your unique organization.
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Frequently-Asked Questions
AI is being used heavily in manufacturing to detect errors in production, and in the automotive industry for object identification, detection and avoidance. In healthcare, we see it regularly perform patient data processing tasks and analyze medical images. Within business, AI can make decisions in recruitment and HR systems and provide prevention against cybersecurity threats.
The identification, assessment, and governing of AI applications falls primarily within your organization’s risk function. Those stakeholders who own the AI governance agenda are often the CRO, CFO, CTO/CIO/CDO, Head of IA and Head of Model Risk Governance or Operational Risk.
Common risks include program and algorithmic bias in important decision-making tools, violation of privacy with risks to personal data being sourced and mined, and operational and security risks such as non-approved software being used across an organization without IT and risk teams knowing.
Understanding of requirements and how to implement your program to the regulations most appropriate for your organization is a key first step. Having the right identification methods to map your inventory, following clear design documentation, performing testing and refinement are all equally as necessary to do. Good AI control and governance should always be the priority before placing trust in untested and unknown AI / ML systems for efficiency gains.
Mitratech is the only AI Governance solution provider on the market to provide AI Application Identification and AI Application Ongoing Version & Change Control Management for applications outside of IT’s control.
Gain complete control over the application and proliferation of AI across your enterprise with Mitratech’s market-leading GRC solution for AI Governance.
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Meet compliance requirements and gain confidence in your AI Governance program with these 6 integrated steps
Risk Identification
Market-leading discovery capabilities provide confidence in the completeness of the AI inventory
AI Risk Assessment
Easy-to-use templates capture metadata on each AI application, while scoring criteria calculates materiality and complexity of each AI application.
AI Validation
Pre-configured workflows and evidence attachments ensure stakeholders are included in the validation process.
AI Review
Customizable reporting and dashboards give a 360-degree view of AI risk across your organization, to then review against your risk appetite and the NIST AI Framework.
AI Risk Mitigation
Attach controls and evidence to risks to demonstrate your mitigation actions for audits and regulators. Leverage the built-in Policy Management feature to govern staff’s use of AI.
Ongoing Monitoring
Detect code changes, identify new risks and monitor cyber security ratings for third parties supplying AI models.
Explore Mitratech’s Comprehensive GRC platform portfolio
Best-in-class, scalable solutions to help elevate your risk management, responsiveness, resilience, and reputation.
