PORTLAND, Ore.—April 16, 2024 – NAVEX, the global leader in integrated risk and compliance management software, is proud to announce the integration of the National Institute of Standards and Technology (NIST) AI Risk Management Framework (RMF) into its content library. This strategic move aims to empower customers with comprehensive tools and resources to efficiently navigate the complex landscape of artificial intelligence (AI) governance and compliance.
The NIST AI RMF is recognized globally as a robust framework designed to address the unique challenges AI technologies pose in various sectors. By incorporating this framework into its content library, NAVEX reinforces its commitment to help customers achieve compliance with burgeoning AI regulations and standards.
“There is a tension between quickly adopting AI and doing so in a smart way that allows the technology to be appropriately governed. This is increasingly important as governments explore the idea of adopting AI regulations,” explains NAVEX Chief Product Officer A.G. Lambert. “Smart organizations are embracing governance frameworks for the use of AI, allowing them to move quickly and safely with technology and ensuring a future where innovation thrives responsibly.”
With the rapid proliferation of AI applications across industries, organizations face increasing pressure to ensure ethical and responsible AI practices while complying with regulatory requirements. The NIST AI RMF provides a structured approach to managing AI risks, covering critical aspects such as privacy, security, fairness, transparency, and accountability.
Key features of the NAVEX NIST AI RMF framework include:
- Guidance on identifying and assessing AI-related risks.
- Framework for implementing controls and safeguards to mitigate risks.
- Tools for monitoring and evaluating the effectiveness of risk management strategies.
- Resources for documenting compliance efforts and demonstrating regulatory adherence.
Integrating the NIST AI RMF into NAVEX’s content library underscores its ongoing efforts to provide solutions that address the evolving needs of its customers. By combining expertise in AI compliance and risk management, NAVEX reaffirms its position as a trusted partner for organizations seeking to harness the full potential of AI while mitigating associated risks.
For more information about NAVEX and its automated business risk offerings, visit their automated business risk governance website.
About NAVEX
NAVEX is trusted by thousands of customers worldwide to help them achieve the business outcomes that matter most. As the global leader in integrated risk and compliance management software and services, we deliver our solutions through the NAVEX One platform, the industry’s most comprehensive governance, risk and compliance (GRC) information system.