Governance, risk and compliance technology startup LogicGate Inc. is looking to cater to enterprises that are concerned their new generative artificial intelligence deployments are going to get them into trouble with regulators.

To assuage those concerns, today it has announced a new Risk Cloud AI Governance Solution that it says is purpose-built to help customers govern and manage their AI technology implementations and ensure they remain in compliance. It also debuted a new service called Risk Cloud AI, which is a new tool that aims to help companies accelerate their GRC programs.

LogicGate says generative AI is being rapidly implemented by enterprises in almost every industry today. It says organizations are wary of being left behind in the race to integrate what everyone sees as a game-changing new technology that will have dramatic improvements on productivity and business efficiency. However, the rapid adoption of AI has created some big headaches for companies wary of falling out of compliance.

The startup’s Risk Cloud AI Governance Solution is an attempt to remedy these headaches, helping companies to implement AI and manage it holistically across their entire organization, so they can stay safe while reaping the benefits it provides.

LogicGate describes the new offering as a simple, out-of-the-box package that can be deployed in minutes and scale and adapt as organizations grow and evolve, adding more AI systems over time.

The Risk Cloud AI Governance Solution is said to integrate easily with other LogicGate Risk Cloud applications, including its Cyber Risk Management, Controls Compliance, Third-Party Risk management and Policy & Procedure Management offerings, enabling a holistic approach to governing and standardizing AI deployments.

The most practical benefit is that the new solution allows companies to create standardized AI policies that will be automatically distributed across their entire organization through the LogicGate Policy & Procedure Management application, the company said.

It also provides a “Streamlined AI Use Case Approval” feature, which is basically a centralized submission, review and approval process for each new AI use case the customer wants to deploy. It enables enterprises to enforce adherence to regulations and track attestations across their entire organization, and is available as a standalone application, while also integrating with the company’s other products.

Using the Risk Cloud AI Governance Solution, organizations will be able to manage cyber risks in a holistic manner, identifying and centralizing AI risks inside a “Cyber Risk Register,” where they can automate assessment, monitoring and mitigation workflows.

The AI-Specific Controls Compliance feature allows companies to leverage the best practices and control recommendations of the U.S. National Institute of Standards and Technology to stay ahead of any emerging AI risks. Meanwhile, the Third-Party AI Risk Management module helps companies to identify which vendors have embedded AI technologies into their applications and understand the impact these may have on business objectives.

LogicGate’s co-founder and Chief Executive Matt Kunkel said the best way to ensure fast and safe AI innovation is to implement a holistic approach to governance and compliance. “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,” he pointed out. “And while speed versus control is a key point of contention when it comes to AI adoption, it’s possible to achieve both.”

As for Risk Cloud AI, the company said it’s all about implementing AI compliance in the fastest time possible. It’s designed to accelerate GRC program success with intelligent recommendations across the entire Risk Cloud platform.

Among its key features is the OpenAI Risk Cloud Connector, which makes it simple to generate policy documents and summarize business-critical risks associated with ChatGPT and Risk Cloud.

Risk Cloud AI will gain additional functionality in the coming months, the company said. In the next few weeks, it will add an AI Text Assistant feature that comes with three core capabilities, including AI-generated mitigation recommendations, form guidance and a notification wizard.

Another update planned for late summer will introduce AI Controls Mapping in Risk Cloud AI, helping companies to map controls for their compliance programs automatically across the Risk Cloud Controls Repository, together with AI analysis and recommendations.

Jay Jamison, president of product and technology at LogicGate, said generative AI will impact every organization in every industry, which means it’s critical for them to prepare themselves for it ahead of time. “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,” he said.

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