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June 20, 2024

Boomi and Partners Launch Customizable AI Readiness and Risk Assessment Tool

CONSHOHOCKEN, Pa., June 20, 2024 — Boomi, along with Connor Group, a leading specialized professional services firm, in association with Professors David Wood (Brigham Young University Marriott School), Scott Emett (Arizona State University W.P. Carey School of Business), and Marc Eulerich (University of Duisberg-Essen Mercator School of Management), today announced the Enterprise 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 Enterprise 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,” said Jeff Pickett, Chair and Founder at Connor Group. “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.”

“At Boomi, we understand the power of clarity and action. The Enterprise GenAI Governance Framework, which I had the privilege to help shape, epitomizes that by providing a one-page summary ideal for boardroom discussions, alongside a detailed breakdown of controls for practical implementation,” said Waseem Samaan, Chief Audit and Risk Officer at Boomi. “It’s designed not only to be adopted, but also to be adapted, allowing companies to assess their compliance and maturity, identifying areas of strength and opportunities for improvement. We’re proud to be among the first to implement and champion a tool that so effectively bridges the gap between strategic oversight and operational excellence.”

The GenAI Framework includes comprehensive documentation and a robust set of risk and control considerations. To enhance the utility of the GenAI Governance Framework, organizations can leverage the GenAI Governance Framework Maturity Model developed by David A. Wood, PhD Professor, Brigham Young University; Scott A. Emett, PhD Associate Professor, Arizona State University; and Marc Eulerich, PhD CIA Dean and Professor, University of Duisburg-Essen. The maturity model, along with consulting services offered by Connor Group, allows 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 Enterprise GenAI Framework here.

About Boomi

Boomi powers the future of business with intelligent integration and automation. As a category-leading, global software as a service (SaaS) company, Boomi celebrates more than 20,000 global customers and a worldwide network of 800 partners. Organizations turn to Boomi’s award-winning platform to connect their applications, data, and people to accelerate digital transformation. For more information, visit boomi.com.


Source: Boomi

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