Boomi, in collaboration with Connor Group and a notable group of academic researchers, has introduced the Enterprise GenAI Governance Framework. This tool is the first-ever enterprise risk framework specifically designed for generative artificial intelligence (GenAI). The framework aims to provide organisations of various sizes with a detailed guide and comprehensive methodology to assess their readiness for AI, manage associated enterprise risks, and adopt GenAI responsibly.
The framework was developed in collaboration with over 1,000 business leaders, academics, and industry bodies. It is customisable, allowing companies to tailor it to their unique objectives, needs, and risk appetite. By aligning with their Enterprise Risk Management program, organisations can ensure that their adoption of GenAI is both secure and responsible.
Jeff Pickett, Chair and Founder at Connor Group highlighted the importance of a strategic AI adoption plan, commenting, "Effective AI adoption will be a massive competitive advantage, but many don't know where to start and how to apply it. 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."
The Enterprise GenAI Governance Framework aims to bridge the gap between strategic oversight and operational implementation. Waseem Samaan, Chief Audit and Risk Officer at Boomi provided insights into the tool's practical applications. He stated, "At Boomi, we understand the power of clarity and action. The Enterprise GenAI Governance Framework, which I had the privilege to help shape, epitomises that by providing a one-page summary ideal for boardroom discussions, alongside a detailed breakdown of controls for practical implementation."
"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 framework is available as a free resource from Connor Group. Alongside comprehensive documentation, it includes a robust set of risk and control considerations. Organisations can use the GenAI Governance Framework Maturity Model to further enhance its utility. This model was developed by professors David Wood (Brigham Young University), Scott Emett (Arizona State University), and Marc Eulerich (University of Duisburg-Essen). It 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 strengths and weaknesses, taking targeted actions to bolster their AI governance.
David Wood emphasised the significance of these tools in navigating the rapidly evolving AI landscape. "The GenAI Governance Framework and accompanying Maturity Model serve as essential resources for organisations seeking to navigate the evolving landscape of AI. By adopting these tools, organisations can enhance their preparedness, resilience, and capability to harness the benefits of AI while effectively managing its risks," he said.
The launch of the Enterprise GenAI Governance Framework represents a significant step towards responsible AI adoption. Organisations now have access to a structured approach and comprehensive resources to ensure their journey into generative AI is secure and strategically sound. The collaboration between Boomi, Connor Group, and academic researchers underscores the collective effort to address the challenges and opportunities presented by AI technologies.
