Nowadays businesses are more connected than ever, and third-party vendors are often the backbone of that interconnectedness. But as AI continues to evolve, it’s shaking up the way we manage these relationships—and not always in ways we expect.
So, why is AI Such a Big Deal?
AI is like a double-edged sword. On one hand, it’s revolutionizing industries, making things faster, smarter, and more efficient. On the other hand, it’s introducing new challenges that we need to be aware of:
- Expanded Attack Surface: AI-powered tools are incredible, but they also come with their own set of vulnerabilities. The very technology that makes things easier can sometimes open doors we didn’t even know existed.
- Data Privacy Concerns: AI needs data—lots of it. And with that comes the big question: How is our data being used? Are we really sure it’s being kept safe?
- Regulatory Requirements: Compliance isn’t just a buzzword; it’s a necessity. Frameworks like NIST AI RMF, ISO 27001, and SOC 2 are putting the spotlight on managing third-party risks, especially when AI is part of the equation.
How Do We Keep AI-Related Third-Party Risk in Check?
- Understand Vendor Data Retention: It’s not just about what your vendors do—it’s about how they do it. Make sure you’re crystal clear on how your data is being used and stored. No surprises.
- Limit LLM Training: AI models learn from data, but that doesn’t mean all your data should be part of the lesson. Decide what’s fair game and what’s off-limits with clear opt-in or opt-out policies.
- Strengthen Contracts: When it comes to contracts, the devil is in the details. Be sure to include specific clauses around AI usage, data privacy, and security. It’s better to be safe than sorry.
Keep an Eye on Things: Effective Tracking and Monitoring
Staying on top of your third-party relationships is key. A robust system for tracking vendor attestations and security reviews can be your best friend. It’s like having a map that shows you where the risks are so you can steer clear of them.
At Axipro, we get it—dealing with AI and third-party risk can feel like navigating uncharted waters. But you don’t have to go it alone. Our team of experts, consultants, and auditors is here to guide you through every twist and turn.
We’ve got the tools, the know-how, and the commitment to help you simplify compliance and focus on what really matters—your business.
So, why stress over the complexities when you’ve got Axipro on your side? Let’s make compliance something you can conquer, not just cope with.
Reach out to us today—because your success is our priority!