Owing to the emergence of new risks, such as hallucinations, copyright infringement, and cyberattacks associated with generative AI (Gen AI), enterprises have become more cognizant of AI governance. Furthermore, the surge in regulatory frameworks like the EU’s AI Act and the US NIST framework have pushed enterprises to ensure that their AI systems are compliant with these regulations. This has led to increased adoption of responsible AI platforms, and vendors are augmenting their offerings with advanced tools for AI/ML metadata management, large language model (LLM) auditing, and regulatory compliance monitoring.
The supply-side trends are covered in Avasant’s Responsible AI Platforms 2024 RadarView™. This report presents a comprehensive study of responsible AI platform providers and closely examines the market leaders, innovators, disruptors, and challengers in this space. It also provides a view of key market trends and developments impacting the responsible AI platforms space.
Avasant evaluated 18 platform providers across two dimensions: product maturity and enterprise readiness. Of these 18 providers, we recognized 11 that brought the most value to the market over the past 12 months.
The report recognizes platform providers in four categories:
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- Leaders: Aporia, Credo AI, and Fiddler AI
- Innovators: Fairly AI, Holistic AI, and IBM
- Disruptors: ModelOp, Modulos, and Monitaur
- Challengers: anch.AI and Truyo
Figure 1 below from the full report illustrates these categories:
“With the emergence of Gen AI and its associated risks, there has been a sharp rise in enterprise demand for robust AI governance,” noted Anupam Govil, managing partner at Avasant. “This has led responsible AI platform vendors to incorporate Gen AI-specific guardrails and region-specific AI regulation compliance into their existing suite of solutions.”
The reports provide a number of findings, including the following:
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- Responsible AI platforms have evolved to ensure compliance with the ever-changing AI regulatory landscape. The number of global AI regulations has increased by over 56% in the past year.
- Investments in responsible AI have become a mandatory component in enterprise AI strategy, as 46% of enterprises are dedicatedly investing in this area.
“Adoption of responsible AI platforms has been slow due to the perceived lack of immediate financial impact,” observed Chandrika Dutt, associate research director at Avasant. “However, Gen AI heightens ethics, transparency, misinformation, and data privacy risks. Moving forward, responsible AI will be central to all generative AI discussions.”
The Responsible AI Platforms 2024 RadarView™ features detailed profiles of 11 platform providers, along with an overview of their solutions, offerings, and experience in assisting enterprises in their responsible AI journeys.
This Research Byte is a brief overview of the Responsible AI Platforms 2024 RadarView™ (click for pricing).