Credo AI Debuts Artificial Intelligence Vendor Registry
Credo AI has debuted its generative artificial intelligence (AI) vendor registry, letting firms more easily greenlight AI vendors.
The company, which provides AI governance software, announced the registry Tuesday (Sept. 10), noting that it comes with pre-populated data for leading AI vendors and developers, such as OpenAI, Microsoft, IBM, GitHub, Salesforce, Meta and Anthropic.
This lets companies easily consolidate risk and compliance data, with the registry offering responsible AI (RAI) benchmarks for specific vendors.
“Vendor-specific governance is crucial in today’s AI landscape, where the complexities of interdependencies between data, models, applications, and tools demand a more comprehensive approach,” Navrina Singh, CEO and founder of Credo AI, said in a news release.
“With the Generative AI Vendor Registry, we’re giving governance teams the tools they need to make fast, informed, and scalable AI decisions. Launching with transparency reports and risk posture of vendors pre-populated in the registry, we’re ensuring that organizations can quickly and safely adopt generative AI across various use cases,” Singh added.
The release noted that the registry helps companies meet new AI regulations such as the European Union’s AI Act. And by consolidating vendor-specific risks and RAI metrics, the registry lets stakeholders like executives to auditors make “go/no-go decisions.”
“For example, when a company decides to work with OpenAI and its GPT-4 model, the registry provides all relevant transparency, risk, and RAI information, facilitating the swift approval of additional use cases with that vendor,” Credo said. “This centralized approach helps enterprises maintain control over their AI usage, minimizing the risks associated with unapproved ‘shadow AI.’“
In other AI news, PYMNTS wrote Monday (Sept. 9) that generative AI was expanding workers’ capabilities beyond their skill sets, but also leading experts to warn of the importance of human oversight to ensure quality and avoid pitfalls.
That expansion is changing the way offices run across a range of industries, with marketing, HR and software development employees now carrying out complex data analysis and coding tasks, in many cases without extensive technical training. This shift allows for new capabilities and reshapes traditional job roles and skill requirements, PYMNTS added.
“This exciting new tech will have a profound impact on financial services, for both customers and businesses in the sector,” Scarlett Sieber, chief strategy officer at Money20/20, said in an interview with PYMNTS.
“Customers will receive hyper-personalized financial advice, faster customer support and a more seamless user experience,” Sieber added. “Financial service providers will benefit from reduced costs, improved decision-making and risk management, and potentially enhanced audit efficiency and regulatory compliance.”
The post Credo AI Debuts Artificial Intelligence Vendor Registry appeared first on PYMNTS.com.