Aravo announced Aravo for Responsible AI, a new application that helps organizations assess and monitor how their vendors and third parties develop, deploy, and govern artificial intelligence using the NIST AI Risk Management Framework.
- Built on the NIST AI Risk Management Framework to provide structured assessment of third-party AI practices and safeguards
- Evaluates governance, oversight, testing, security, and monitoring while assessing inherent risk and control effectiveness
- Integrates AI risk assessment into existing third-party risk workflows and decision-making processes
- Developed using Aravo's AI Configurator, enabling rapid updates as regulations and AI technology evolve
- Part of the Intelligence First Platform's Secure and Stable IT risk portfolio, connecting AI risk to 50+ other third-party risk domains
Aravo announced Aravo for Responsible AI, a risk application that helps organizations assess and monitor how their vendors and other third parties develop, deploy, and govern artificial intelligence.
Built around the NIST AI Risk Management Framework (AI RMF), the application brings AI-related due diligence into the workflows and oversight of an organization’s broader third-party risk program.
“AI risk is becoming a critical part of third-party risk programs, and the expectations for managing it will continue to change,” says Dean Alms, chief product officer at Aravo. “Aravo for Responsible AI gives teams a practical, structured way to assess how third parties use AI and the safeguards they have in place, while keeping the work connected to the governance and workflows of their wider program.”
Key takeaways:
· Aravo for Responsible AI provides a structured assessment that can be tailored to a third party’s AI use cases and operating context. Teams can evaluate governance practices, oversight, testing, security, and monitoring; assess inherent risk and control effectiveness; route findings through existing decision and remediation workflows; and track changes through ongoing monitoring, renewals, dashboards, and reporting. The application supports expert judgment throughout the process, helping teams focus attention where it is most needed.
· Aravo for Responsible AI is the first of many Aravo applications to be developed using Aravo’s new AI Configurator. The AI Configurator is an enterprise-grade engineering tool that enables rapid development of risk-domain applications. It also gives Aravo greater agility and adaptability throughout the application journey, from implementation through ongoing maintenance. As regulations, AI technology, and security and privacy concerns change, Aravo can update the application to help organizations keep the risk domain current and reduce exposure.
· ravo for Responsible AI is part of the Intelligence First Platform’s Secure and Stable IT risk portfolio, alongside applications for areas such as information security and digital resilience. It builds on Aravo’s established due diligence approach and the same platform organizations use to manage more than 50 third-party risk domains. This gives teams a connected view of risk, supports accountability across stakeholders, and helps reduce fragmentation as programs expand.
