In a significant move to address the complexities of Artificial Intelligence (AI) governance and compliance, NAVEX has launched a new AI-focused content library. This initiative is designed to support organizations as they navigate the rapidly evolving regulatory landscape surrounding AI technologies. With AI becoming increasingly integral to business operations, the need for clear guidelines and compliance frameworks has never been more critical.
The content library emerges against the backdrop of a Forrester survey from September 2023, which found that 56% of AI decision-makers plan to implement generative AI in production applications within the next year. This statistic underscores the urgency for robust governance mechanisms to ensure ethical and regulatory compliance in AI deployments.
NAVEX's solution offers a centralized repository of resources, including international and industry-specific regulations, to aid companies in aligning their AI initiatives with legal and ethical standards. A.G. Lambert, NAVEX's Chief Product Officer, highlighted the library's role in empowering risk management professionals to establish necessary controls and automate compliance processes, thereby enhancing operational efficiency.
Key features of the library include centralized regulatory resources, streamlined control development, and automated compliance monitoring. These tools are designed to help organizations proactively manage AI-related risks and adapt to changing laws. Additionally, the NAVEX One platform complements the library by facilitating the development of AI policies and providing a secure channel for reporting concerns.
The library encompasses over 400 regulations and frameworks, such as the EU AI Act and the NIST AI Risk Management Framework, and is regularly updated to reflect the dynamic regulatory environment. By integrating training, incident management, and policy management, NAVEX ensures that organizations are well-equipped to face current and future compliance challenges.
This initiative by NAVEX marks a pivotal development in the realm of AI governance, offering businesses a strategic advantage in leveraging AI technologies responsibly. As the adoption of AI continues to grow, NAVEX's content library stands as a vital resource for organizations aiming to balance innovation with compliance and risk management.
