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Industry Landscape
The AI Governance, Risk, and Compliance (AI GRC) industry is rapidly expanding, driven by increasing AI adoption and a complex, evolving regulatory landscape. Organizations are seeking solutions to de-risk AI initiatives, ensure continuous compliance, and maintain transparent accountability, especially for LLMs. The focus is shifting from reactive audits to proactive, verifiable, and tamper-proof record-keeping for AI development and deployment.
Total Assets Under Management (AUM)
AI Governance Platform Market Size in United States
~Given the lack of specific data in the provided context, an estimate is required. The global AI Governance Platform Market size was valued at USD 1.15 billion in 2023. Based on PROVE AI's primary market focus, we can estimate the U.S. market share to be approximately 40% of this global figure, which is around USD 460 million.
(38.2% CAGR)
-Driven by increasing regulatory pressure.
-Growing need for explainable AI.
-Rise in adoption of AI across industries.
Total Addressable Market
1.15 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Decentralized AI Governance
Leveraging blockchain and distributed ledger technologies to create immutable and transparent records of AI development and deployment for enhanced trust and auditability.
Explainable AI (XAI) Platforms
Tools and methodologies that help in understanding and interpreting the decisions made by AI models, crucial for regulatory compliance and building user trust.
AI TRiSM (Trust, Risk, and Security Management)
A framework encompassing tools and techniques for ensuring the trustworthiness, reliability, security, and ethical use of AI systems throughout their lifecycle.
Impactful Policy Frameworks
NIST AI Risk Management Framework (AI RMF 1.0), 2023
The NIST AI RMF is a voluntary framework for managing risks associated with artificial intelligence, providing a systematic approach to incorporate trustworthiness considerations into the design, development, deployment, and use of AI systems.
This framework directly impacts PROVE AI by providing a blueprint for their platform's design, enabling organizations to align their AI governance practices with an authoritative standard, thus increasing demand for PROVE AI's capabilities.
New York City's Local Law 144, 2023
This law, effective January 1, 2023, requires employers using automated employment decision tools (AEDTs) in New York City to conduct bias audits and publish the results annually.
This policy creates an immediate and tangible need for PROVE AI's immutable record-keeping and audit trail features, as companies must demonstrate compliance with strict bias detection and reporting requirements for AI in HR.
White House Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence, 2023
This comprehensive executive order outlines broad directives for federal agencies to establish new standards for AI safety, security, and trustworthiness, including mandates for testing, transparency, and data sharing.
This executive order significantly boosts the demand for robust AI governance platforms like PROVE AI across various sectors by creating a widespread mandate for verifiable, transparent, and secure AI development and deployment practices.
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