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