Educational webinar with guest speaker
Cody Scott provides GRC leaders with
the knowledge and confidence to implement a holistic AI Governance
program
CHICAGO, July 30,
2024 /PRNewswire/ -- The recent "OCEG Use of AI
for GRC '' research report found that 82 percent of
respondents agree or strongly agree they must adopt generative AI,
yet only 12 percent said their organization has a documented AI
Governance plan. Generative AI represents the next generational
wave of technology; however, for many businesses, adopting and
managing usage is uncharted waters. Uncertainty is causing
companies to delay implementing AI tools which hinders efficiency
and innovation. To help brands better understand the opportunities
and potential consequences of adopting AI, LogicGate, the holistic
GRC experts delivering leading GRC solutions, is proudly
producing a continuous stream of educational resources that will
help customers leverage and govern the technology to enhance
business performance safely and effectively.
AI Governance creates an advantageous opportunity for GRC
leaders to reimagine the traditional ways of managing risks, and
gain a more strategic seat at the table. During the recent
LogicGate webinar: Navigating AI Governance: Opportunities,
Outcomes, and Consequences guest speaker, Forrester Senior
Analyst Cody Scott and LogicGate
President of Technology Jay
Jamison emphasized the importance of holistic AI
governance and how to safely leverage the technology's power for
operational efficiencies and growth. According to Cody,
"The important thing here is that speed of
innovation is a systemic risk. That means that companies are
struggling to gain the competitive advantage that comes with
something like the value proposition of AI. And because the
aperture for the value of AI is so wide, it requires us to have a
much more holistic approach when it comes to just managing it and
really being able to understand what the value is and the
opportunity that's associated with it."
Throughout the webinar Cody references industry research and he
also elaborates on the four pillars of AI Governance success:
- Purpose - Specifying the business outcomes that the AI
system should achieve for that AI model. What is the "why" - why
are you taking on this initiative or why are you trying to mitigate
a particular risk? What is the value?
- Culture - Embedding AI governance into your
organizations' practices and employee roles. This is really
important because people are responsible and accountable for how AI
is used; it can't just be one person responsible for everything.
This is really important because people, at the end of the day, are
responsible and accountable for how AI is used.
- Action - Enabling and automating AI stewardship tasks
and processes. First you have to test the model by gathering data
and evidence about how it's used and track performance metrics to
confirm if the AI model is operating the way it's expected to and
delivering the desired value.
- Assessment - Having the ability to observe, measure, and
communicate the impact of AI. Leverage risk assessments, residual
assessments, control assessments, and metrics for monitoring and
making sure the AI model is not creating a business or ethical
dilemma.
Cody and Jay also discussed stakeholder engagement and how to
identify which teams are accountable for the opportunities and
potential consequences of AI usage.
"This has to be a c-suite level discussion
because so many people are involved. So many parts of the business
are using AI for so many things, whether that's employee
productivity, employee experience, operational efficiencies versus
customer experience, or even revenue-generating opportunities,"
said Cody Scott.
While AI needs to be championed by the CEO to help drive a
culture of safe and effective AI usage, balancing technical
expertise with a strategic view of the business is a broader, more
comprehensive responsibility of senior GRC leaders. According to
Cody:
"The question here is not - is there any
single stakeholder who needs responsibility? It's really about
getting a team together, and you can make that as formal or
informal as need be, but the important thing is that you've got
that senior level and tactical makeup of stakeholders who are
involved in the discussion on a regular basis."
The AI Governance webinar underscores the need for ongoing
guidance and education to help companies build and maintain
effective AI Governance programs. AI is rapidly evolving which
requires governing tools and solutions that can evolve with it.
"Companies need to prioritize responsible use of AI and we
provide a partnership approach so they can not only build an
effective AI governance program but also cultivate a culture of
risk to drive awareness and accountability," said Jay Jamison. "AI will continuously evolve and as
GRC leaders, we have a responsibility to provide ongoing support
and guidance to our customers. We take that seriously at
LogicGate."
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 as an industry-leading platform, 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