Lumenova AI is pioneering a powerful cross-technology AI risk assessment software, streamlining and automating risk and value assessment of AI implementation and use in mid to large-sized enterprises.
With the recent release of an AI risk assessment agent, Lumenova AI is enriching its governance platform with scalable, innovative, connected, and continuous risk assessment and reporting enterprise solutions. Established to serve mid to large businesses’ growing need for robust AI assessment, risk, and compliance tools, Lumenova AI is empowering organizations to ensure use cases and outcomes are ethical, transparent, and compliant. Supported by a team with over 15 years of ML and 5 years of XAI experience, Lumenova AI is automating and simplifying the AI risk management process for enterprise applications.
As breakthroughs in generative AI technology have been democratized in recent years, enterprises globally are now considering AI’s role in their business strategy. Novel AI tools are enhancing operational efficiency, enabling automation, and a significant revenue lift for some companies. Over 90% of companies consider AI critical to success, with 84% of executives referring to it as a cornerstone for meeting business objectives. Yet, only 25% of businesses feel adequately prepared to handle the risks associated with AI. This gap in technology adoption and risk management indicates a severe disconnect between AI integration strategies and the underlying frameworks for mitigating harm.
International governance bodies are developing frameworks for ethical AI usage in commercial settings. Many experts believe disclosing AI usage and taking steps to mitigate potential harm will soon become mandatory. In this landscape, the demand for tools that can automate, simplify, and streamline AI risk management has become immense. To remain competitive, businesses utilizing AI must develop internal AI policies and adhere to emerging regulations to avoid liabilities.
AI risk assessment and governance startup Lumenova AI empowers enterprises, mainly in the financial services sector, to navigate the future with confidence. Almost four years ago, the company launched its end-to-end platform to identify the ethical implications of AI outputs. Lumenova AI recently released a standalone AI risk management assessment tool to bolster its ability to uncover the black box of this technology.
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The company’s co-founder and CTO Cosmin Andriescu expresses optimism about Lumenova AI’s growing capabilities to support companies evolving with AI: “In addition to launching a chat-based AI risk management assessment agent, Lumenova AI has partnered with several global corporations. These relationships are enhancing our ability to help companies cultivate responsible AI lifecycles, fueling compliant yet pioneering AI solutions.”
Lumenova AI’s risk management assessment tool analyzes the implications of various use cases, instantly generating a risk assessment report with low, medium, and high concerns. Custom mitigation strategies are included, simplifying the policy development process whether for internal or external usage. Each report is tailored to the user’s regional guidelines, providing accurate strategies for anything from governance and stakeholder engagement to data management and privacy. Users can ask additional questions after reports are produced, refining the AI’s suggestions into more actionable insights.
When used at the beginning of an AI use-case intake process to determine possible risks, Lumenova AI’s tool can pinpoint necessary guardrails. The company’s AI policy analyzer program is another valuable tool for responsible AI development that can be leveraged for internal policy creation.
Lumenova AI facilitates cross-department synergy among AI sentinels, architects, and orchestrators to bridge the gap between human and machine. The company champions human-centric values that promote model performance and equity for all stakeholders.
In an age where AI is expected to automate the equivalent of 300 million full-time jobs, the availability of comprehensive risk management and mitigation tools is paramount. Without reliable software providers such as Lumenova AI, other enterprise AI platforms will struggle to adapt to evolving frameworks across Asia, North America, and Europe, increasing the likelihood of negative outcomes. Lumenova AI is the only AI governance platform offering holistic tools with embedded testing features that support the design and deployment of AI in enterprises.
Source: Businesswire
