Credo AI has launched AI Registry, a solution designed to assist organizations in implementing AI governance. The offering serves as a foundational resource for companies seeking to adopt responsible and ethical practices in their AI initiatives.
The AI Registry enables organizations to create a comprehensive catalog of all their AI systems, providing valuable insights into the various applications and implementations of AI within the company. Having such visibility is crucial as it lays the groundwork for ensuring that AI is developed and employed responsibly.
Moreover, with the increasing focus on AI regulations, like the upcoming EU AI Act, companies are being mandated to document and disclose their AI usage.
“We’ve seen a huge increase in the number of companies eager to adopt AI risk management and governance. The first step of governance is getting visibility into what needs to be governed, which is where Credo AI’s AI Registry comes in. We’re excited to make this offering available to the broader market and support more organizations in their AI governance journey, ”says Susannah Shattuck, Head of Product, Credo AI.
In 2023, the significance of AI governance became evident as the drawbacks and apprehensions surrounding generative AI surfaced. However, the fast-paced advancement of the AI landscape has led to the expansion of AI governance's scope. Consequently, businesses are struggling to locate a centralized authority or reference point to take ownership of the governance process.
Credo AI's AI Registry includes a built-in policy intelligence feature that automatically detects potential risks associated with the usage of AI systems, considering their specific applications and implementations. With this capability, customers can easily pinpoint high-risk AI use cases that require proper governance. Additionally, the AI Registry helps businesses prioritize their AI initiatives by evaluating the risk-to-revenue potential of each project, enabling them to focus on areas that demand attention and resources to ensure responsible and successful outcomes.
AI Registry maintains AI oversight and identifies risk
To effectively manage AI usage within the organization and address the challenges posed by increasingly powerful and complex AI technologies, it is crucial to centralize AI governance. This centralized approach allows businesses to maintain oversight of AI activities and prioritize governance efforts based on the level of risk associated with each use case. This allows organizations to stay up-to-date with emerging risks and identify which risks require immediate mitigation, which ones need monitoring and awareness, and which are not applicable to their specific context.
In addition, with Credo AI Risk Recommendations, organizations can easily identify the most pressing risks associated with AI implementation and promptly take appropriate actions.
Organizations can effectively prioritize AI projects that promise high revenue potential while scaling back on those with significant risks and resource-intensive demands. While there is enthusiasm to integrate AI into various business aspects, it is essential to recognize that some AI projects are more time-consuming or complex than their benefits justify.
In May, Credo AI made its new set of governance capabilities - GenAI Guardrails - generally available to help organizations understand and mitigate the risks of generative AI.
