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Industry Landscape
The AI governance industry is rapidly expanding, driven by increasing AI adoption and the proliferation of complex regulations like the EU AI Act and NIST AI RMF. Companies are focusing on establishing robust frameworks for ethical AI, risk mitigation, and compliance. The market is seeing significant investment in platforms and advisory services that help organizations manage AI systems throughout their lifecycle, turning AI trust into a competitive advantage.
Total Assets Under Management (AUM)
Global AI Governance Platform Market Size in United States
~Approx. 500 million USD (2023 estimate for North America)
(30-40% CAGR)
- Driven by increasing regulatory pressure and demand for responsible AI solutions.
- Enterprises are investing to mitigate legal, reputational, and operational risks.
- Growing need for automated compliance and risk visualization tools.
Total Addressable Market
1.5 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Generative AI Guardrails & Explainability
The development of advanced techniques to ensure safe, ethical, and transparent operation of generative AI models, addressing hallucination, bias, and misuse.
Federated Learning for Privacy-Preserving AI
A decentralized machine learning approach that trains algorithms on multiple local datasets without exchanging data samples, enhancing privacy and data security.
AI TRiSM (Trust, Risk, and Security Management)
An emerging discipline combining governance, explainability, operational resilience, and cybersecurity for AI systems to ensure trustworthy and secure AI deployments.
Impactful Policy Frameworks
EU AI Act (2024)
The European Union AI Act, provisionally agreed upon in 2024, is a landmark regulation that categorizes AI systems by risk level (unacceptable, high, limited, minimal) and imposes strict requirements, including risk management systems, data governance, transparency, human oversight, and conformity assessments for high-risk AI.
This act significantly impacts Credo AI by creating a strong market demand for their 'Regulation Automation' and 'Policy Packs' features, particularly for organizations operating or selling into the EU, making compliance a critical business imperative.
NIST AI Risk Management Framework (AI RMF 1.0) (2023)
Published in January 2023, the NIST AI RMF is a voluntary framework designed to help organizations better manage risks associated with AI, offering guidance on mapping, measuring, managing, and governing AI risks through a structured approach of Govern, Map, Measure, and Manage functions.
The NIST AI RMF directly benefits Credo AI by providing a globally recognized, comprehensive framework that their platform helps implement and operationalize, strengthening their value proposition for enterprises seeking to adopt best practices in AI risk management.
NYC Local Law 144 (2023)
Effective July 5, 2023, NYC Local Law 144 regulates the use of automated employment decision tools (AEDTs), requiring bias audits, public posting of audit results, and specific notices to candidates or employees in New York City.
This local law creates a direct and immediate need for Credo AI's compliance features, particularly bias auditing and reporting capabilities, for any company using AI in hiring processes within NYC, driving demand for their platform's practical application.
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