Watsonx.governance, developed by IBM, is an AI tool that brings transparency, responsibility, and ethical decision-making to organisations and businesses, leveraging AI in their daily operations.
AI governance refers to the framework, policies, and processes established to oversee and manage the deployment, development, and use of artificial intelligence (AI) systems within an organisation, business, or larger societal landscape. As AI technologies become increasingly integrated into various aspects of business, government, and daily life, the need for effective governance becomes paramount.
To help business leaders and executives, IBM has introduced the governance vertical of its AI and data platform, called Watsonx.governance, which is planned to be generally available in early December.
As the company describes it, Watsonx.governance is a one-stop-shop for businesses that are struggling to deploy and manage both LLM and ML models, giving businesses the tools, they need to automate AI governance processes, monitor their models, and take corrective action, all with increased visibility. Its ability to translate regulations into enforceable policies will only become more essential for enterprises as new AI regulation takes hold worldwide.
Kareem Yusuf, Ph.D, Senior Vice President, Product Management and Growth, IBM Software, says: "Company boards and CEOs are looking to reap the rewards from today's more powerful AI models, but the risks due to a lack of transparency and inability to govern these models have been holding them back.”
Watsonx by IBM is an AI and data platform that includes an enterprise studio for AI builders and an open, hybrid, and governed data store. Watsonx.governance is one of three software products in the IBM watsonx AI and data platform, along with a set of AI assistants, designed to help enterprises scale and accelerate the impact of AI.
According to Mckinsey Global Institute, data-driven organisations are not only 23 times more likely to acquire customers, but they’re also six times as likely to retain customers and 19 times more likely to be profitable. What is all this process is governed using an AI tool?
AI governance encompasses ethical considerations, transparency, accountability, and compliance with legal and regulatory standards. It involves defining guidelines for the responsible use of AI, addressing potential biases, ensuring data privacy, and establishing mechanisms for monitoring and auditing AI systems.