Accelerate AI adoption through risk-informed decision making
by Resha Chheda
In the rapidly evolving landscape of Generative AI, managing risk can be quite a challenge. As the New York Department of Financial Services (NYDFS) warned financial institutions in a recent letter, “increased reliance on AI has had a substantial impact on the cybersecurity landscape as this technology has introduced significant new opportunities for cybercriminals to commit crimes at greater scale and speed.”
That’s why we’re thrilled to introduce our latest offering—the SAFE GenAI Risk Module.
Why Manage Gen AI Risk?
The adoption of Gen AI tools is no longer optional; it’s inevitable!
According to McKinsey & Company, 65% of employees are actively using Gen AI for work purposes1, and 40-50% are exposed to these technologies at least once. Gen AI is revolutionizing various business functions. However, this rapid adoption exposes organizations to new risk vectors, including model hallucinations and inaccuracies, cybersecurity vulnerabilities, and intellectual property challenges. Effectively managing these risks not only protects your business but also enhances its AI-driven capabilities.
Managing AI risk can help with:
- Accelerating AI Adoption through Risk-Informed Decision Making
The adoption of generative AI can be significantly accelerated through risk-informed decision-making. By thoroughly assessing and understanding the potential risks—such as data privacy concerns, algorithmic biases, and security vulnerabilities—organizations can make informed choices that align with their strategic goals. It enables organizations to weigh the benefits against potential risks, ensuring that resources are allocated effectively and objectives are met without compromising on security or ethical considerations.
- Fostering Collaboration Between Security and AI Teams
Traditionally, security and AI/data science teams have operated in silos, each with distinct priorities. Security teams prioritize data protection and compliance, while AI teams focus on innovation and analytics. Managing AI risks effectively acts as a bridge between these teams, fostering collaboration and mutual understanding.
Security teams become enablers rather than gatekeepers, providing the necessary support to AI initiatives by ensuring that security and compliance measures are integrated into the AI lifecycle. Conversely, AI teams can tailor their models and processes to align with security requirements, thereby reducing friction and enhancing the overall effectiveness of AI deployments.
How SAFE Helps Organizations Manage Gen AI Risk
The GenAI Risk Module by SAFE equips security leaders and risk analysts with the tools needed to proactively manage AI risks. It provides:
- Tailored Risk Insights: Offering insights specific to an organization’s AI use cases, SAFE delivers targeted risk assessments and mitigation strategies.
- Real-Time Risk Visibility: Provides continuous monitoring of AI-related threats and vulnerabilities, through the Live Threat Center module
- Proactive Compliance Alignment: Ensuring your AI practices align with regulatory frameworks like NIST AI-RMF, minimizing compliance risks.
- Comprehensive Risk Quantification: By assessing the likelihood and potential business impact of AI risks, SAFE helps prioritize resource allocation effectively.
What Sets SAFE Apart?
SAFE is the only platform that can objectively quantify and measure AI risk. We are the only platform that can help AI Work groups and Risk committees make well informed decisions based on real-time analysis. SAFE’s approach to AI risk management stands out due to its unique features:
- Automated Risk Scenario Information: Automatically generates AI risk scenarios based on your AI footprint and specific vulnerabilities.
- Scenario-Based Risk Modeling: Allows organizations to model risk scenarios using resources such as the MIT AI Risk Library.
- AI Posture Evaluation: Evaluate your AI risk posture using the NIST AI-RMF framework, highlighting potential vulnerabilities.
Customer Benefits
By integrating SAFE’s GenAI Risk Module, businesses can:
- Confidently Adopt AI: Equip your business with the necessary tools to manage AI risks effectively, balancing innovation with security.
- Enhance Decision Making: With clear, quantifiable insights, CISOs can articulate risks to leadership and prioritize mitigation strategies.
- Ensure Compliance: Align your AI practices with evolving standards, reducing the risk of penalties and fostering trust in your AI systems.
Ready to Transform Your AI Risk Management?
The SAFE GenAI Risk Module is available as part of the Enterprise Edition of our SAFE One platform. Start your AI risk management transformation today and see how we can help you confidently integrate AI into your operations without compromising security.
Want to see SAFE GenAI Risk in action? Schedule your 1:1 demo with a SAFE cyber risk expert today!
