As AI continues to disrupt and transform Third-Party Risk Management (TPRM), organizations face increasing pressure to adopt AI-driven processes while managing the associated risks. In this rapidly evolving landscape, staying ahead of the curve is essential for maintaining a competitive edge and safeguarding your organization from emerging threats.

Our AI & Emerging Technology Committee mobilized to address the global risk management challenges (and opportunities) and introduced AI in our latest whitepaper, AI & Third-Party Risk Management: Balancing Innovation, Risk & Opportunity.

This comprehensive white paper delves into the evolving best practices for AI governance in TPRM, providing a detailed roadmap for leveraging AI to enhance risk management while addressing its unique challenges. With insights drawn from leading industry experts, this document is an indispensable resource for any organization looking to navigate the complexities of AI integration in TPRM.

This white paper delivers essential insights into:

Current And Evolving Best Practices For AI Governance In TPRM

Discover the latest strategies and frameworks that organizations can adopt to effectively manage AI risks within their supply chains. Learn how AI governance structures are evolving in response to the rapid growth of AI technology. This section outlines the critical components of a robust AI governance framework, including compliance, ethical considerations, and continuous monitoring.

How AI Can Augment TPRM Processes And Improve Risk Management

Explore how AI technologies can streamline risk management tasks, improve decision-making, and enhance visibility into third-party and Nth-party risks. This section delves into AI’s potential to automate vendor oversight and improve overall program efficiency. You’ll gain a deeper understanding of how AI-driven analytics and machine learning can provide real-time insights and predictive capabilities, transforming the way you manage risks.

Practical Strategies For Addressing AI-Related Risks, Including Transparency, Security, And Fairness

Learn about the specific challenges posed by AI, such as bias, data privacy, and security vulnerabilities. The paper provides actionable advice on implementing governance measures that ensure AI use remains transparent, fair, and secure throughout the supply chain. Real-world case studies illustrate how leading organizations are tackling these issues head-on and setting new standards for responsible AI use.

Key Recommendations For Executives And Practitioners On Building Resilient AI-Enabled TPRM Frameworks

Gain insights into how organizations can establish AI governance frameworks that balance innovation with risk management. Recommendations cover building cross-functional teams, integrating AI into existing risk management structures, and addressing the long-term implications of AI adoption. This section highlights the importance of fostering a culture of continuous learning and adaptability to keep pace with technological advancements.

This resource represents the work of the Shared Assessments AI & Emerging Technology Committee and a dedicated team of subject matter experts. It aims to equip organizations with the knowledge and tools needed to responsibly integrate AI into their TPRM programs, ensuring they remain competitive while safeguarding against emerging risks. By implementing the strategies and recommendations outlined in this white paper, your organization can confidently navigate the complexities of AI in TPRM and build a more resilient, future-ready risk management framework.

Download the full paper here.