PALO ALTO, Calif.--(BUSINESS WIRE)--Credo AI, a global leader in AI governance software, today announced the general availability of its EU AI Act Readiness offering, a first-of-its-kind product that allows organizations to begin tracking their readiness to meet the core requirements included in the expected EU AI Act. By implementing AI governance processes aligned with these elements of the expected EU AI Act, companies can begin to effectively prepare to comply with future global AI regulations and standards.
The EU AI Act is expected to provide the global business world with comprehensive governance requirements for high-risk AI systems, following on the heels of the EU’s General Data Protection Regulation (GDPR), which created a paradigm shift in business around data privacy and governance operations. Establishing governance processes, building competence, and implementing technology for efficient compliance takes time and effort. Many organizations are investing now in preparations to comply with forthcoming AI laws and regulations because they are aware of the long road ahead.
The EU AI Act Readiness offering is designed to help those organizations. As the Trilogue process continues and the European Union continues to discuss and finalize the text of the EU AI Act, Credo AI has translated the core, generally applicable elements of comprehensive AI risk management and transparency obligations, and made this available as a readiness offering. The Credo AI team has translated the main elements of Europe’s approach to regulating high-risk AI into an EU AI Act Readiness Policy Pack—a set of actionable requirements that companies can use to begin to both prepare for the expected EU AI Act and invest in governance processes that align with emerging international regulations and standards on AI. These foundational requirements include having an established risk management system, providing technical documentation, accounting for human oversight, and ensuring transparency and provision of information to end users.
With the EU AI Act Readiness Pack, customers get:
- Register AI Systems: Register your organization’s AI Use Cases in our AI Registry and understand their risk category within the framework of the expected EU AI Act.
- Map Requirements: Get access to a use-case-specific list of actionable requirements that map to the expected EU AI Act, based on your Use Case risk category.
- Identify Gaps: Get a “readiness score” for each of your AI Use Cases, with guidance on which requirements you need to meet to be prepared for the expected EU AI Act. This actionable checklist is your roadmap for meeting the core governance requirements.
The EU AI Act Readiness product is an extension of Credo AI’s Responsible AI Governance Platform. On the heels of announcing the AI Registry and GenAI Guardrails, this announcement represents Credo AI’s continued commitment to developing AI governance software for companies that are building, using, or procuring AI tools and systems. This is the first AI governance product that can help companies globally to start mapping their compliance journey with core elements of the expected EU AI Act, so they can launch and adopt AI products with confidence globally.
“As we enter the age of AI-powered everything, what we’ve seen from enterprises is that adding an AI governance layer is non-negotiable,” said CEO Navrina Singh. “At Credo AI, we want to provide that layer in a way that gives businesses a competitive edge in adopting AI with confidence and guardrails aligning company use of AI with internal policies, industry best practices, and regulatory guidance like the expected EU AI Act.”
Interested parties can request a demo of the EU AI Act Readiness offering today.
About Credo AI
Founded in 2020, Credo AI is a Responsible AI governance platform that empowers organizations to deliver and embed artificial intelligence responsibly by proactively measuring, monitoring, and managing AI risks. Credo AI helps organizations, including Global 2000s, unlock the innovative potential of AI while ensuring compliance with emerging global regulations and standards, like the EU AI Act and NIST. Credo AI has been recognized as a Technology Pioneer 2022 by the World Economic Forum, Fast Company’s Next Big Thing in Tech 2022, and a top Intelligent App 40 by Madrona, Goldman Sachs, Microsoft, and Pitchbook. To learn more, visit: credo.ai.