ABBYY Publicly Releases AI Risk Management Policy to Foster Trustworthy AI
ABBYY is solving organizations’ challenges in meeting evolving and disparate artificial intelligence (AI) compliance standards by making its AI Risk Management Policy publicly available and working with partners to provide a solution that makes it easier to monitor document AI-related risk compliance.
Accenture data shows that 77% of C-suite executives globally see regulation of AI as a priority and 39% acknowledge that one of their greatest internal challenges to regulatory compliance arises from collaborations with partners. Proactively making its risk management policy publicly available will promote innovation and minimize potential harm, while fostering trust, transparency, and accountability in ABBYY’s AI systems.
By releasing our AI risk management policy, we are demonstrating to our customers ABBYY’s commitment to responsible AI development, deployment, and governance to align with ethical, legal, and regulatory standards while mitigating risks to individuals and society.
Clayton C. Peddy, Chief Information Security Officer at ABBYY
ABBYY provides customers with transparent performance metrics and characteristics of our AI technologies, including documented steps taken to maintain data security, integrity, and privacy throughout processing.
While supporting customers' digital transformation initiatives, ABBYY assists them in navigating complex regulatory landscapes and AI audits and collaborates with nonprofit organizations to ensure that such solutions remain economically beneficial and socially responsible.
Roman Kilun, Chief Compliance Officer at ABBYY
Along with its own work, ABBYY is leveraging with work of ForHumanity to provide a Model Risk Management (MRM) solution to improve compliance and governance for customers.
ABBYY is among the first companies to lead the development of and carry out an AI risk policy consistent with the EU Artificial Intelligence Act. Not just words on paper, but actively instituting rigorous assessments of risk factors, evaluating processes and controls, and establishing continuous monitoring of AI system performance, risks and compliance through automated and manual processes.
We’re pleased to be working alongside ABBYY and Law+Data with a solution that helps organizations mitigate downstream risks associated with AI systems and institute best practices that are essential for companies to enhance consumer trust while supporting responsible AI innovation.
Ryan Carrier, CFA, FHCA the Chairman of the Board and Executive Director of ForHumanity
