Monday, June 17, 2024

Credo AI Launches the World’s Largest and Most Comprehensive AI Risk and Controls Library

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Credo AI, a global leader in AI governance software, has created the largest and most comprehensive AI Risk and Controls Library in the world. Building on academic research, Credo AI’s domain expertise, and industry frameworks from leaders like MITRE and NIST, the interdisciplinary team at Credo AI has developed the market’s most extensive library of AI-specific Risk Scenarios and Controls. This library is designed to anticipate and mitigate negative incidents, enabling the development and deployment of safe and controlled AI systems with unparalleled speed to governance.

“New standards such as ISO 42001 and NIST’s new Generative AI risk profile demand precise and individualized governance of AI systems,” said Navrina Singh, CEO and Founder of Credo AI. “As a leading AI governance platform, Credo AI is dedicated to ensuring our platform helps organizations adopt the latest Generative AI capabilities swiftly and with the utmost confidence and compliance. We are committed to continuously updating our controls library with the most relevant, risk-mitigating measures, enabling enterprises to embrace AI safely and confidently.”

With Credo AI’s expanded AI Risk and Controls Library, users can now identify all relevant risks associated with a specific AI tool or application and access the controls necessary to mitigate those risks. Combined with existing features to streamline Governance, Risk, and Compliance (GRC) for AI, this enhancement accelerates the AI governance process, empowering companies to become trustworthy AI-powered leaders in their respective industries.

Also Read: Sift Announces RiskWatch to Simplify Fraud Decisioning and Catalyze Business Growth

GenAI-Specific Risk Scenarios and Controls, Informed by NIST

On April 29, 2024, NIST released a groundbreaking new standard for GenAI governance, the draft AI RMF GenAI Profile. Developed over the past year with input from over 2,500 members of the NIST generative AI public working group, including Credo AI, this profile is an extension of NIST’s AI Risk Management Framework. It is designed to help organizations identify the unique risks posed by generative AI and propose actions for effective generative AI risk management.

Leveraging these insights, Credo AI has enhanced its platform with over 400 new GenAI-specific controls, expanding the Credo AI Risk and Controls Library to nearly 700 AI Risk Scenarios and corresponding controls.

As AI use cases expand, use-case level governance becomes essential. Low-risk AI use cases can proceed rapidly, while high-risk AI deployments must be carefully managed to avoid potential damages. Accessing a pre-built library of AI risks and controls allows development teams to focus on building innovative products while automating the necessary busywork in AI governance, risk management, and compliance.

Source: Businesswire

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