June 20, 2024 — Connor Group, along with Boomi™, and in association with professors David A. Wood (Brigham Young University Marriott School), Scott Emett (Arizona State University W.P. Carey School of Business), and Marc Eulerich (University of Duisburg-Essen Mercator School of Management), today announced the GenAI Governance Framework — the first-ever enterprise risk framework for generative artificial intelligence (GenAI).
Built in collaboration with over 1,000 business leaders, academics, and industry bodies, the GenAI Governance Framework provides a detailed guide and comprehensive methodology for organizations of all sizes to assess their AI readiness, identify and manage enterprise risks associated with GenAI technologies, and move into responsible GenAI adoption.
The framework can be easily customized to align with a company's unique objectives, needs, and risk appetite, and empowers those responsible for risk management and governance — such as Internal Audit, IT/CISO, Legal, and Audit Committees — to identify, evaluate, and proactively address high-priority exposures.
It also provides a structured approach to pinpointing vulnerabilities and implementing controls, facilitating the secure and responsible deployment of GenAI technologies..
“Effective AI adoption will be a massive competitive advantage but many don’t know where to start and how to apply it. A few AI tools exist now with many on the way, and they are coming fast. Having a smart AI adoption strategy with underlying controls, data, and processes that are ready for AI takes time. The most competitive companies are doing these things now," explained Jeff Pickett, Chair and Founder at Connor Group.
Provided as a free resource, the GenAI Framework includes comprehensive documentation and a robust set of risk and control considerations.
Framework implementation and consulting services offered by Connor Group allow businesses to evaluate their current governance practices, identify areas for improvement, and strategically plan for future enhancements. By assessing maturity levels across various control considerations, companies can gain insights into their own strengths and weaknesses and take targeted actions to bolster their AI governance.
“Overall, the GenAI Governance Framework and accompanying Maturity Model serve as essential resources for organizations seeking to navigate the evolving landscape of AI,” said David A. Wood. “By adopting these tools, organizations can enhance their preparedness, resilience, and capability to harness the benefits of AI while effectively managing its risks.”
Learn more about the GenAI Governance Framework here.
For information about Connor Group AI and Automation services, please contact Jason Pikoos at jason.pikoos@connorgp.com.
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