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.
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 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
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
ABBYY continues to work with ForHumanity to assist organization in meeting regulations on the use of AI. It is an active participant in and contributor to ForHumanity’s certification scheme, which is designed to augment regulations, such as the US Federal Reserve SR 11-7 Model Risk Management (MRM) guidance. The ForHumanity MRM certification scheme is designed to strengthen existing MRM frameworks by integrating robust and globally harmonized AI governance, oversight, and accountability for AI, algorithmic, and autonomous (AAA) systems.
ABBYY has a new working partnership with Law+Data, a data privacy, e-discovery and AI governance law firm, to increase the auditability and traceability of AI compliance processes through ABBYY Process Intelligence. The partnership is initially focused on a solution for credit decisioning.
ABBYY was recently recognized as a Leader in Everest Group’s Intelligent Document Processing (IDP) and Banking and Financial Services (BFS)-specific IDP Products PEAK Matrix® Assessment 2025. ABBYY was specifically recognized for its ability to integrate quality analytics and business process reporting capabilities with ABBYY Timeline to improve understanding of document process performance.
Register to attend the ForHumanity webinar, Cracking the Code: Governance for Model Risk Management in the Age of AI, June 12 at 11:00 a.m. EST for more on mitigating regulatory exposure, and risk exposures, and operationalize AI regulatory compliance with ABBYY Process Intelligence.
Learn more details about the ABBYY AI Risk Management Policy.
ABBYY puts your information to work with purpose-built AI. We combine innovation and experience to transform data from business-critical documents into intelligent actionable outcomes in over 200 languages in real time. We are trusted by more than 10,000 companies globally, including many of the Fortune 500, to drive significant impact where it matters most: accelerate the customer experience, operational excellence, and competitive advantage. ABBYY is a global company with headquarters in Austin, Texas and offices in 13 countries. For more information, visit www.abbyy.com/company and follow us on LinkedIn, Twitter, Facebook, and Instagram.
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