Posted June 2, 2023
Organizations are looking to accelerate their adoption of artificial intelligence (AI) capabilities but making AI work effectively remains challenging. According to PwC’s recent global Responsible AI survey, only 6% of organizations have been able to operationalize AI, making responsible development and deployment of AI systems more critical than ever.
One key aspect of responsible AI development is effective risk management, governance, and visibility. You can strengthen AI risk management, governance, and visibility by allowing stakeholders to collaborate by mapping, measuring, and managing your entire AI framework — including all AI assets, models, solutions, and their inter-relationships.
Proactive Governance Risk Management
AI systems can pose several risks to organizations, such as bias, discrimination, and erroneous decisions. Collaboratively mapping your AI framework enables stakeholders to identify and mitigate potential risks associated with governance proactively, ensuring the design and deployment of AI systems that effectively reduce governance-related risks.
Effective governance ensures that organizations design, deploy, and maintain their AI systems in alignment with changing governmental rules and regulations, as well as their own values and principles. Collaboratively mapping your AI framework allows stakeholders to develop governance policies that ensure AI systems align with the organization’s objectives and comply with all current and future regulations.
To ensure fair and equitable utilization, transparency and explainability are crucial for AI systems. Collaborative efforts in measuring and managing your AI framework can help stakeholders ensure that the AI systems’ performance metrics are transparent and their decision-making processes are explainable. Improved visibility can help organizations identify and address potential issues, build trust, and improve collaboration.
Organizations that want to foster collaboration and strengthen AI risk management, governance, and visibility can leverage Konfer, the ONLY product that abstracts AI compliance and conformance requirements into measurable controls.
Konfer provides an efficient governance framework by enabling stakeholders to collaborate on developing governance policies that align with the organization’s values and principles. It creates controls from directives and laws — including The EU AI Act, the NIST AI Risk Management Framework, OECD AI guidelines, and more — automatically figures out which factors the controls belong to, and keeps them up to date with changes in the regulatory landscape.
One of Konfer’s key benefits is its ability to enable organizations to adopt a Governance by Design approach to their development and procurement process for AI solutions. With a Governance by Design approach, decision makers can proactively score their AI applications, data, and models to: 1) maintain compliance at the app, model, and data level; and 2) stay compliant in an ever-changing regulatory landscape.
Konfer provides another significant benefit by generating a real-time Konfer Confidence Score, enabling organizations to identify, understand, and mitigate potential risks.Konfer maps, measures, and manages all AI powered solutions in use — so legal and compliance officers can easily determine whether these applications generate additional risk to the company upon deployment. Once risks are identified, steps can then be taken to manage and mitigate these risks.
Take charge of your AI development and deployment today with Konfer. Stakeholders can effectively map, measure, and manage their AI framework using its risk management, governance, and visibility features. This collaborative tool is essential for responsible AI development and deployment, ensuring compliance with both internal standards and external regulations, and adopting a Governance by Design approach into your development and procurement process for AI solutions.
Don’t wait any longer to enhance your organization’s AI capabilities and build stakeholder trust — schedule a demo today to see how Konfer can enable you to take a proactive stance on AI risk management and compliance.
Interested in operationalizing trust in your AI applications? Ping us here and Konfer's experts will set up a demo to show you how it can be done.