Using AI at its best.
Artifical Intelligence (AI) will transform the way risk and compliance professionals handle third-party risks. That is why we are incorporating AI-features into our platform. This is not just about efficiency; it is a game-changer in managing risks smarter and more effectively.
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Our AI-features
Our platform uses powerful AI-technology to help risk and compliance professionals manage third-party risks more efficiently and effectively. Here is how our AI-features make a difference:
#1. SOC-2 analyser
Our platform includes a SOC-2 analyser. This feature looks at the details in SOC-2 reports from your suppliers and points out any areas you should be concerned about. It is like having an expert who reads through these reports and highlights important issues for you. Other assurance reports will be added soon.
#2. AI-summeriser
Our platform comes with a summariser feature. It puts together a summary of the whole assessment, including all the responses and evidence given by your suppliers. It is like having a concise report that makes it easy to understand the big picture without having to go through every single detail yourself.
#3. Virtual officer
Our platform’s virtual officer is your customisable AI-assistant. Currently in training, this virtual officer will be able to answer queries about assessments and risks, offering tailored support and guidance. The virtual officer can be adapted to your organisation's unique character, which adds a personal touch.
#4. Multilangual workflows
Our platform uses AI for instant translation of assessments and all platform modules. This means no matter what language your suppliers or team members speak, everyone can access and understand the necessary information without any language barriers.
#5. Adverse news monitor
We have news monitoring integrated into our platform to keep an eye on the news for you. Our partners use AI to scan through news sources and provide initial analyses of content that could be relevant to your third parties. Our virtual officer alerts you on potential red flags or issues.
#6. Action plan wizard
Crafting action plans for your suppliers and internal stakeholders has never been easier. This tool guides you through creating effective follow-up actions, ensuring that any identified risks are addressed systematically. It simplifies the process of devising these plans, making it more efficient.
FAQ
Looking for insights on how AI enhances our platform? We have compiled a list of common questions about AI and how we deal with them.
Do I need to make use of the platform's AI-features?
No, you need to opt-in if you would like to use our AI-features. You can opt-out any time.
Is there a risk to my data and my suppliers' data when we use AI?
No. Our AI implementation ensures that both your and your suppliers' data are secure and not shared inappropriately. We adhere to strict data protection and privacy standards, ensuring that the use of AI enhances, rather than compromises, data security. See also our privacy and security pages.
Does AI eliminate the need for human decision-making?
Not at all. AI is a tool to aid, not replace, human decision-making. In the context of third-party risk management, AI can identify potential risks and provide insights based on data analysis, but the final decision-making should rest with human professionals who can consider a wider context.