Published on June 25, 2024, 6:19 am

Boomi™, a leader in intelligent integration and automation, in partnership with Connor Group, a prominent professional services firm, and in collaboration with renowned professors David 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), has introduced the Enterprise GenAI Governance Framework. This framework represents the first-ever enterprise risk model tailored specifically for generative artificial intelligence (GenAI).

Developed through cooperation with over 1,000 industry leaders, academics, and relevant organizations, the Enterprise GenAI Governance Framework offers a comprehensive roadmap for organizations of all sizes to evaluate their readiness for AI adoption. It enables them to identify and manage risks associated with GenAI technologies and transition towards responsible GenAI implementation. Notably, this framework is adaptable to suit a company’s specific goals, requirements, and risk tolerance levels.

Jeff Pickett, Chair and Founder at Connor Group emphasized the competitive edge that effective AI adoption can provide but acknowledged the challenges many face when attempting to initiate and integrate AI tools. He stressed the importance of laying down a strategic foundation with controls and processes geared towards AI integration as early adopters are already reaping benefits.

Waseem Samaan, Chief Audit and Risk Officer at Boomi, highlighted the practicality of the Enterprise GenAI Governance Framework by providing both a concise summary suitable for boardroom discussions and detailed control guidelines for practical implementation. The framework aims not only to be adopted but also adapted by companies to evaluate their compliance status, recognize strengths, and areas needing enhancement.

As an added resource from Connor Group, the GenAI Framework comprises extensive documentation along with a thorough set of risk and control considerations. To further optimize its utility, businesses can utilize the GenAI Governance Framework Maturity Model created by David A. Wood (Brigham Young University), Scott A. Emett (Arizona State University), and Marc Eulerich (University of Duisburg-Essen). This model assists companies in assessing their current governance practices, pinpointing areas for improvement, and strategically planning future advancements based on varying control considerations.

David A. Wood emphasized how these tools are invaluable for organizations navigating the dynamic AI landscape as they enhance preparedness to leverage AI benefits while effectively mitigating risks. By employing these resources companies gain insights into their governance maturity levels enabling targeted actions aimed at strengthening their AI governance mechanisms.git

Keywords: Generative AI, GenAI, Artificial Intelligence


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