According to the Form S-1, the new AI governance committee includes managers from Rubrik’s engineering, product, legal and information security teams.
Here’s why having AI governance could become the new normal.
“Aside from its strategic role to devise and oversee an AI governance program, from an operational perspective, AI governance committees are a key tool in addressing and minimizing risks,” he said.
The EU AI Act has teeth, and “the penalties for non-compliance with the AI Act are significant,” British-American law firm Norton Rose Fulbright noted.
Establishing AI governance committees likely will be at least one way to try to help on the trust front.
The European Parliament voted Wednesday to adopt the AI Act, securing the bloc pole-position in setting rules for a broad sweep of artificial intelligence-powered software — or what regional lawmakers have dubbed “the world’s first comprehensive AI law”.
pic.twitter.com/t4ahAwkaSn — Thierry Breton (@ThierryBreton) March 13, 2024Once published in the EU’s Official Journal in the coming months, the AI Act will come into force 20 days after that.
And with that alone the AI Act has nudged the future of AI in a human-centric direction.
But the legislation also puts some (light touch) transparency obligations on a third subset of apps, including AI chatbots; generative AI tools that can create synthetic media (aka deepfakes); and general purpose AI models (GPAI).
Rules for GPAIs were a later addition to the AI Act, driven by concerned MEPs.
That’s where Codified, an early stage startup that was nurtured last year inside venture capital firm Madrona Ventures, comes into the picture.
The company was built from the ground up from a data veteran with an eye toward solving the data compliance problem, and today it announced a $4 million seed round.
Company founder and CEO Yatharth Gupta sees that data is at the center of today’s technology, yet companies struggle to control access to it.
Both jobs, he says, were heavily involved in data and he saw the kinds of problems he’s trying to solve with Codified.
Investors in today’s round include Vine Ventures, Soma Capital and Madrona Venture Labs where Codified incubated last year.
Governance, risk management and compliance — GRC for short — remains one of the most active startup areas in terms of VC investments.
GRC helps organizations better manage risk while staying in compliance with regulations — and there’s an increasing number of regulations to worry about.
“Anecdotes is redefining compliance and risk management by transforming it from a labor-intensive task with skyrocketing associated costs into data-oriented processes.”Anecdotes’ platform automatically collects GRC-related “artifacts” (i.e.
Anecdotes’ competitors include VComply, a risk and compliance management startup that’s raised over $10 million in venture capital so far, and Cypago, which aims to automate compliance and governance for companies.
Kuznitsov asserts that Anecdotes is well-positioned, though, with around 100 customers including Snowflake, Coinbase SoFi, Grafana and Payscale.
As AI applications continue to proliferate across industries, they hold the promise of revolutionizing customer experience, optimizing operational efficiency, and streamlining business processes.
In recent years, concerns about ethical, fair, and responsible AI deployment have gained prominence, highlighting the necessity for strategic oversight throughout the AI life cycle.
The rising tide of AI applications and ethical concernsThe proliferation of AI and ML applications has been a hallmark of recent technological advancement.
AI governance has emerged as the cornerstone for responsible and trustworthy AI adoption.
Strong ethical and risk-management frameworks are essential for navigating the complex landscape of AI applications.
