Lumenova AI Governance, Risk Management, and Compliance Platform

Lumenova AI's AI Governance, Risk Management, and Compliance Platform aims to simplify and streamline AI risk management, providing complete visibility on AI models and ensuring consistent adherence to the latest regulatory standards and industry best practices.

From:
Centre for Data Ethics and Innovation and Department for Science, Innovation and Technology
Published
9 April 2024
Use case:
Big data analytics, Data-driven profiling, Natural language processing and generation, Image recognition and video processing, Machine learning, Deep learning and Virtual agents or artificial conversational interfaces
Sector:
Agriculture, Forestry and Fishing (SIC Code Section A), Mining and Quarrying (SIC Code Section B), Manufacturing (SIC Code Section C), Energy & Utilities (SIC Code Sections D & E) and Construction (SIC Code Section F)
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Retail (SIC Code Section G), Transportation & Storage (SIC Code Section H), Accommodation and Food Service (SIC Code Section I), Digital & Comms (SIC Code Section J), Financial and Insurance (SIC Code Section K), Real Estate (SIC Code Section L), Professional, Scientific & Professional Activities (SIC Code Section M), Administrative & Support Services (SIC Code Section N), Public Administration & Defence (SIC Code Section O), Education (SIC Code Section P), Healthcare & Social Work (SIC Code Section Q), Arts, Entertainment & Recreation (SIC Code Section R), and Other Services (SIC Code Section S)
Principle:
Safety, security and robustness, Appropriate transparency and explainability, Fairness, Accountability and governance and Contestability and redress
Key function:
Product and service development, Service operations and Risk management
AI Assurance Technique:
Data assurance, Compliance audit, Formal verification, Risk Assessment and Impact Assessment
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Impact Evaluation, Conformity Assessment, Bias Audit, and Assurance Warranty
Assurance Technique Approach:
Technical and Procedural

Background & Description

Lumenova AI’s AI Governance, Risk Management, and Compliance Platform is a SaaS solution designed to govern AI systems at an enterprise level. The platform aims to simplify and streamline AI risk management, providing complete visibility on AI models and ensuring consistent adherence to the latest regulatory standards and industry best practices. The platform enables businesses to make informed, collaborative, and responsible decisions by bridging the gap between technical and business perspectives.

How this technique applies to the AI White Paper Regulatory Principles

Safety, Security, and Robustness

Lumenova AI platform is designed to discover adversarial vulnerabilities that make the model unreasonably sensitive to changes in the input. The platform analyses the extent to which the model of the user is affected by data distribution drift and checks if their AI relies too heavily on only a few dominant features when making predictions.

Appropriate Transparency & Explainability

​​T​he platform is engineered to provide clarity and transparency, addressing the common lack of understanding of AI models. It provides transparency by explaining how each input influences the model’s decision-making process, helping users better understand their AI systems. This level of explainability is essential in building trust and facilitating the responsible use of AI.

Fairness

The platform is designed to measure a wide range of fairness metrics based on sensitive attributes that intersect with each other. This approach enables the platform to assess fairness in different types of models and ensures that AI systems do not perpetuate any existing biases. As a result, the platform helps maintain fairness in the decision-making processes of AI systems.

Accountability & Governance

Accountability and governance are at the core of the Lumenova AI platform. It offers a single, powerful platform that organisations can use to manage AI risk and compliance effectively and without friction. The platform ensures robust governance and accountability in AI systems by providing clear, business-friendly insights and aligning tech teams with business executives.

Contestability & Redress

The Lumenova AI platform empowers organisations to gain insights into the decision-making process of their AI systems. This enables them to identify and address potential issues, fostering a proactive approach to AI governance. With a focus on transparency and explainability, the platform equips organisations with the tools to understand how AI decisions are made, facilitating informed decision-making and responsible AI adoption.

Why we took this approach

At Lumenova AI, we recognise the transformative power of AI, but we also encourage and support enterprise-wide transparency and accountability by ensuring trustworthy AI. To support this, we have developed an All-in-One governance, assessment, and risk management platform that empowers any organisation to automate, simplify, and optimise the entire risk management process, while simultaneously accelerating AI integration throughout the organization.

The Lumenova AI Governance, Risk Management, and Compliance Platform prioritise providing organisations across diverse sectors with automated workflows that align business objectives with technical assessments to yield optimal outcomes.

Benefits to the organisation using the technique

The platform combines deep risk management know-how with in-depth technical assessments, uniting the power of data science and risk management. The platform covers all aspects of governance, risk management, and compliance, providing end-to-end support for risk assessment, policy configuration, and delivery of custom AI solutions. This ensures that AI systems are governed effectively, with a focus on maintaining robust and secure practices. Some of the business benefits:

  • More accurate evaluation results

  • Better understanding of status and issues, from the model level to the enterprise level;

  • Faster road to regulatory compliance using pre-built, customisation frameworks;

  • Facilitating the development of policy and processes for achieving Responsible AI;

  • Allows for the faster deployment and adoption of AI models, while reducing overall costs.

This comprehensive approach positions organisations ahead in terms of remediation, contributing to a more responsible and regulated use of AI.

Limitations of the approach

While the Lumenova AI platform significantly enhances transparency, fairness, accountability, and risk management in AI systems, it might not eliminate all challenges associated with AI governance within an organisation. A prerequisite to leveraging the value of Lumenova AI is the establishment of a robust Responsible AI culture and governance framework within the organisation.

After implementing the Lumenova AI platform, stakeholders will need to prioritise high-risk and high-impact AI applications for governance and execute appropriate compliance assurance practices.

Moreover, the effectiveness of Lumenova AI’s risk assessment, mitigation strategies, and AI explainability features relies on the accuracy and completeness of the information provided by users. This could pose a challenge for users with limited technical background or those not involved in the AI system’s design and development.

Nonetheless, Lumenova AI is committed to maintaining open communication with users to clarify any inconsistencies and gather as much information as possible to maximise the accuracy of its services.

Further AI Assurance Information

Updates to this page

Published 9 April 2024
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