Software firm Boomi, in another move to establish itself as an innovative leader in artificial intelligence, has helped construct a framework that businesses and organizations can adopt to mitigate the risks associated with generative AI.
The document, released publicly last week, is part of a project led by Brigham Young University professor David Wood in collaboration with California-based professional services firm the Connor Group, three members of academia and Conshohocken-based Boomi. It is being billed as the "first-ever enterprise risk framework for generative artificial intelligence."
The document simplifies guidance on generative AI, identifying various risks it could pose to a business or organization and recommending ways to combat them. The goal was to create a brief, easy-to-digest guide that any business or organization can apply to its operations. The document addresses ethical, operational, regulatory, strategic and data-related risks associated with AI.
For example, it recommends creating a strategic roadmap for integrating generative AI, convening a committee to oversee it, establishing a protocol for vetting new AI features and having transparent communication about generative AI's impact on jobs.
The framework comes at a time when society and public and private organizations alike are grappling with how best to implement AI and place proper guardrails around it.
Boomi is no stranger to artificial intelligence, having leaned heavily into it under the leadership of CEO Steve Lucas. The company has secured a handful of patents and continues to look for opportunities to be on the cutting edge of the technology. The work on this AI framework falls in line with Boomi's "key strategy to be an AI leader," Chief Audit and Risk Officer Waseem Samaan said.
"It does give a lot of credibility to Boomi and it just shows we are a leader, but we're also a responsible leader," Samaan said. "We're not AI washing. We're not just saying that we're investing in innovation. ... [We're] doing it responsibly and ethically and building that trust."
As AI has become more prevalent, businesses and the government have deliberated about how to properly govern and implement it.
"There's a risk in using AI and a risk in not using AI," Samaan said. "One of the biggest risks of not using AI is being obsolete or being inefficient as a company. You might not welcome it now, but down the line if companies don't adopt it they might not stick around."
Use cases for generative AI evolve daily, which created a greater sense of urgency for Samaan and the team collaborating on the project to release the framework as quickly as possible. Samaan said he worked on weekends, holidays and during time off to hit a self-imposed deadline of having a draft of the framework ready for Boomi World — the companywide conference — in early May.
The framework underwent beta testing and a review process that included over 1,000 people from entities like Big 4 accounting firms and the Securities and Exchange Commission.
Samaan said the framework is designed to "adopt and adapt."
"For me, it's the simplicity," Samaan said. "It doesn't matter how big of a company or how small or where you are in your maturity journey, it helps you get there in a very easy to understand way. AI is a scary thing for a lot of people and this just simplifies it."
Going forward, the team plans to revisit the framework every six to 12 months to ensure it's current with any new regulations or technological developments.
"I hope this becomes that staple standard for the world," Samaan said.
