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Techday NZ
23-04-2025
- Business
- Techday NZ
Diligent unveils AI tool to streamline risk management for firms
Diligent has introduced AI Risk Essentials, an AI-powered solution intended to help organisations identify, benchmark, and mitigate enterprise risks. AI Risk Essentials is designed to streamline the initiation and development of an enterprise risk management (ERM) programme. According to Diligent, the new solution can be deployed in under a week, providing governance, risk, and compliance (GRC) professionals with tools to rapidly prepare for board discussions, evaluate risks, conduct assessments, establish mitigation strategies, and monitor risk management activities. The AI-powered tool leverages benchmarking risk data extracted from over 120,000 SEC 10-K filings, offering organisations access to a wide dataset for comparing and evaluating their risk positions. This enables users to benchmark against peers, identify blind spots, and expedite the construction of their risk registries. The introduction of AI Risk Essentials follows Diligent's previous AI-focused initiatives, such as the GovernAI suite within the Diligent One Platform. Both products aim to facilitate governance and risk processes for boards, executives, and legal professionals, with an emphasis on maintaining security and responsible application of AI technologies. Market research cited by Diligent indicates that more than 77% of directors report receiving regular board-level discussions regarding new risks and their implications. The demand for improved benchmarking data and risk management solutions is growing as regulatory and environmental changes introduce new challenges. Michael Rasmussen, GRC Analyst, Influencer & Pundit at GRC 20/20, commented on the potential impact of AI-driven risk tools on organisational resilience. "Leveraging advanced AI-driven solutions like Diligent AI Risk Essentials enables organisations not only to quickly identify and assess these uncertainties but also to strategically benchmark their risks against industry standards. Integrating these insights into decision-making empowers leaders to proactively mitigate risk, align their ERM programs with strategic objectives, and ultimately drive resilience and agility in achieving their organisational goals," Rasmussen said. Diligent highlights the continued reliance on manual risk tracking methods, such as spreadsheets, within many organisations; only 32% describe their risk oversight as mature or robust. AI Risk Essentials is intended to address these gaps and, in combination with other features of the Diligent One Platform, delivers a range of functionalities, including AI-driven risk identification, benchmarking suggestions based on SEC 10-K data, and tools for collaborative risk assessment with stakeholders. The solution offers capabilities such as streamlined risk assessments, where teams can collaborate to evaluate the potential impact and likelihood of strategic risks. Risk mitigation plans are consolidated in a single, easily accessible environment to improve accountability and visibility. Users are provided with an interactive risk heatmap to visualise the severity of risks, guiding the prioritisation of their risk management initiatives. Additionally, AI Risk Essentials grants access to Diligent's Education and Templates Library. This repository includes a variety of resources for board members, executives, and legal professionals, as well as a newly launched ERM Certification, supporting best practices for risk maturity and the development of organisational risk literacy. Scott Bridgen, General Manager, Risk & Audit at Diligent, commented on the evolving risk landscape and the need for AI-driven tools. "The volume and complexity of risk management have increased exponentially in the last five years, but most organisations are hampered by varying levels of risk maturity, resourcing and inadequate tools," Bridgen stated. "Now, by leveraging AI-powered insights and benchmarking capabilities, organisations of any size can quickly identify, assess and mitigate risks. Governance and risk professionals can effectively jumpstart or enhance an enterprise risk management program in time for their next board meeting." AI Risk Essentials is positioned as part of Diligent's broader three-tier ERM suite, which has been recognised by analysts including Forrester, Gartner, and IDC. The ERM suite comprises a range of scalable solutions to support clients as their risk management practices mature and they require advanced functionality.
Yahoo
23-04-2025
- Business
- Yahoo
Diligent Unveils AI Risk Essentials to Accelerate Risk Management and Elevate Governance
New AI-powered solution empowers organizations to identify, benchmark and mitigate risk efficiently NEW YORK, April 23, 2025--(BUSINESS WIRE)--Diligent, the leading governance, risk and compliance (GRC) SaaS company, today announced Diligent AI Risk Essentials (AI Risk Essentials), a new solution designed to initiate and strengthen an organization's enterprise risk management (ERM) program. Supported by benchmarking risk data from SEC 10-K filings, AI Risk Essentials can be implemented in less than a week, enabling GRC professionals to immediately prepare for board-level discussions, swiftly identify risks, conduct risk assessments, implement mitigation strategies and monitor progress. AI Risk Essentials builds on Diligent's track record of AI innovation, including the release of GovernAI, a suite of AI-powered features within the Diligent One Platform designed to streamline governance and risk workflows, saving valuable time for boards, executives and legal professionals while ensuring the highest levels of security and responsible AI usage. With more than 77% of directors reporting that their board regularly discusses new risks and implications for the company, the demand for enhanced benchmarking data and risk management solutions is on the rise. AI Risk Essentials provides organizations with access to over 120,000 risks from SEC 10-K filings, allowing them to easily benchmark against their peers, identify potential blind spots and expedite building their risk register. "Leveraging advanced AI-driven solutions like Diligent AI Risk Essentials enables organizations not only to quickly identify and assess these uncertainties but also to strategically benchmark their risks against industry standards," said Michael Rasmussen, GRC Analyst, Influencer & Pundit, GRC 20/20. "Integrating these insights into decision-making empowers leaders to proactively mitigate risk, align their ERM programs with strategic objectives, and ultimately drive resilience and agility in achieving their organizational goals." The need for a sophisticated, AI-powered ERM solution is more pressing than ever with only 32% of organizations characterizing their risk oversight practices as mature or robust and many still relying on manual tools such as spreadsheets. AI Risk Essentials – in addition to other AI capabilities on the Diligent One Platform – provides teams with: AI-powered risk identification and benchmarking data: Providing a comprehensive starting point for effective risk management through AI-assisted benchmarking suggestions using SEC 10-K risk data. Streamlined risk assessments: Enabling collaboration with risk owners to set impact and likelihood of strategic risks, ensuring an accurate understanding of risk exposure. Simplified risk mitigation plans: Making risk mitigation straightforward by consolidating all essential information, ensuring clear visibility and accountability. An interactive risk heatmap: Allowing users to visualize risk severity, gain actionable insights and help prioritize their strategic focus. Access to Diligent's Education and Templates Library: Including a wide range of board, executive and legal resources along with the newly released ERM Certification, designed to promote best practices for enhancing risk maturity and developing risk literacy. "The volume and complexity of risk management have increased exponentially in the last five years, but most organizations are hampered by varying levels of risk maturity, resourcing and inadequate tools," said Scott Bridgen, General Manager, Risk & Audit at Diligent. "Now, by leveraging AI-powered insights and benchmarking capabilities, organizations of any size can quickly identify, assess and mitigate risks. Governance and risk professionals can effectively jumpstart or enhance an enterprise risk management program in time for their next board meeting." AI Risk Essentials is a component of Diligent's three-tier ERM product suite, which has garnered accolades from leading analysts such as Forrester, Gartner and IDC. The ERM product suite offers a range of solutions that scale with clients' needs as they mature and require more advanced ERM solutions. For more information about Diligent AI Risk Essentials, visit: Diligent will host its inaugural AI Innovations Virtual Summit on Wednesday, April 30th to showcase how AI is transforming governance, risk and compliance. Attendees will hear from experts and learn best practices for improved decision-making and building organizational resilience using AI. Register now at: About Diligent Diligent is the leading governance, risk and compliance (GRC) SaaS company, empowering more than 1 million users and 700,000 board members to elevate governance and clarify risk. The Diligent One Platform gives practitioners, the C-suite and the board a consolidated view of their entire GRC practice so they can more effectively manage risk, build greater resilience and make better decisions, faster. Learn more at Follow Diligent on LinkedIn and Facebook. View source version on Contacts Media Michele SteinmetzSenior Communications Director, Diligent+1-215-817-5610msteinmetz@ Sign in to access your portfolio
