TMCnet News
World's First AI Governance Score Unveiled with ModelOp Version 3.3ModelOp's new software release enables enterprises to achieve continuous AI governance that drives safe, ethical, and responsible AI innovation CHICAGO, May 7, 2024 /PRNewswire/ -- ModelOp, the world's leading AI Governance software for enterprises, is pleased to announce the release of ModelOp Version 3.3. This new software is a global first and allows enterprise leaders to score AI risks and continuously govern AI initiatives as global regulations evolve. ModelOp's new AI Governance Score provides executives with real-time visibility into all AI initiatives — including generative AI, in-house, third-party, and embedded AI systems — and their risks across the entire enterprise. ModelOp helps Chief AI Officers (CAIOs), CDAOs, CIOs, CISOs, AI leaders, and Governance teams responsibly accelerate AI innovation and keep their organizations safe through comprehensive AI Governance inventory, controls, and reporting capabilities. Rapidly evolving AI technology and its many use cases span business units, departments, and teams — making it incredibly challenging for executives and corporate boards to see where AI is being used, what its risks are, and how they are being managed. According to Accenture, less than 2% of executives can identify how AI is used in their companies and its risks. This is a substantial accountability problem, which can slow innovation and expose enterprises to significant security, data privacy, regulatory, brand, and financial risks. With ModelOp Version 3.3 — including the world's first AI Governance Score — enterprises can govern and scale their AI in real-time using automation instead of relying on manual, inconsistent, and resource-intensive processes. These capabilities are more important than ever in the wake of the US Office of Management and Budget's (OMB) memo M-24-10, which requires each of the 400+ Federal Agencies to appoint Chief AI Officers by the end of May and to implement AI safeguars by December 1, 2024. "ModelOp 3.3 gives executives clear visibility into the performance, value, and risk of all AI initiatives across the entire enterprise. The game-changing AI Governance Score introduces a standardized metric to measure risk across diverse AI initiatives, which is helpful given the complexity and diversity of projects," Pete Foley, CEO at ModelOp, said. "Unlike other solutions, ModelOp offers true AI Governance software tailored for executives, providing a single source of truth for AI Governance and Risk Management. It's comprehensive, agnostic, and answers the biggest AI accountability questions facing every executive at every enterprise: how is AI being used in my organization and what are the risks?" ModelOp was recently recognized as a leader in AI Governance by MMC Ventures for its "Who's Who in Responsible AI report," underscoring ModelOp's mission to empower organizations to effectively and responsibly balance the risks and rewards of AI. ModelOp is committed to helping enterprises innovate and build accountable, transparent, robust, fair, and compliant AI Initiatives – all without stifling innovation. ModelOp Version 3.3 extends existing support for generative AI, enabling enterprises to harness the power of Large Language Models (LLMs) while safeguarding the business. Its major enhancements include:
ModelOp's VP of Product, Dave Trier, writes about the innovations in depth on ModelOp's blog here. This release underscores ModelOp's commitment to advancing AI Governance and enabling enterprises to safely and efficiently explore the vast potential of AI and ML technologies. A ModelOp Version 3.3 preview will be made available immediately to select existing customers. For more information about ModelOp Version 3.3 and how it can transform your organization's AI initiatives by bringing visibility to how AI is being used and its risks, please visit www.modelop.com. About ModelOp ModelOp is the leading AI Governance software for enterprises and helps safeguard all AI initiatives — including generative AI, Large Language Models (LLMs), in-house, third-party, and embedded systems — without stifling innovation. Through automation and integrations, ModelOp empowers enterprises to quickly address the critical governance and scale challenges necessary to protect and fully unlock the transformational value of enterprise AI — resulting in effective and responsible AI systems. www.modelop.com Media Contact: Jordan Spangler, [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/worlds-first-ai-governance-score-unveiled-with-modelop-version-3-3--302138206.html SOURCE ModelOp |