Built in collaboration with over 1,000 business leaders, academics and industry bodies, the Enterprise GenAI Governance Framework provides a detailed guide for responsible GenAI adoption.
Boomi, along with Connor Group, a leading specialised professional services firm, in association with professors David Wood (Brigham Young University Marriott School), Scott Emett (Arizona State University W.P. Carey School of Business), and Marc Eulerich (University of Duisberg-Essen) Mercator School of Management), have announced the Enterprise GenAI Governance Framework – the first-ever enterprise risk framework for generative Artificial Intelligence (GenAI).
Built in collaboration with over 1,000 business leaders, academics and industry bodies, the Enterprise GenAI Governance Framework provides a detailed guide and comprehensive methodology for organisations of all sizes to assess their AI readiness, identify and manage enterprise risks associated with GenAI technologies, and move into responsible GenAI adoption.
The framework can be easily customised to align with a company’s unique objectives, needs and risk appetite and empowers those responsible for risk management and governance – such as Internal Audit, IT/CISO, Legal and Audit Committees – to identify, evaluate and proactively address high-priority exposures. It also provides a structured approach to pinpointing vulnerabilities and implementing controls, facilitating the secure and responsible deployment of GenAI technologies.
“Effective AI adoption will be a massive competitive advantage, but many don’t know where to start and how to apply it,” said Jeff Pickett, Chair and Founder, Connor Group.
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.”
Waseem Samaan, Chief Audit and Risk Officer, Boomi, said: “At Boomi, we understand the power of clarity and action. The Enterprise GenAI Governance Framework 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.”
Provided as a free resource by Connor Group, the GenAI Framework includes comprehensive documentation and a robust set of risk and control considerations.
To enhance the utility of the GenAI Governance Framework, organisations can leverage the GenAI Governance Framework Maturity Model developed by David A. Wood, PhD
Professor, Brigham Young University; Scott A. Emett, PhD Associate Professor, Arizona State University; and Marc Eulerich, PhD, CIA Dean and Professor, University of Duisburg-Essen.
The maturity model, along with consulting services offered by Connor Group, 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 own strengths and weaknesses and take targeted actions to bolster their AI governance.
“Overall, the GenAI Governance Framework and accompanying Maturity Model serve as essential resources for organisations seeking to navigate the evolving landscape of AI,” said David A. Wood. “By adopting these tools, organisations can enhance their preparedness, resilience, and capability to harness the benefits of AI while effectively managing its risks.”
