As artificial intelligence regulation becomes a boardroom priority worldwide, document processing company ABBYY is getting ahead of the curve by making its AI risk management policy publicly available and partnering with organizations to help other companies navigate the complex compliance landscape.

The company announced this week that it has released its comprehensive AI Risk Management Policy to the public, marking one of the first attempts by a major technology firm to proactively address the European Union's Artificial Intelligence Act and other emerging regulatory frameworks.

"By releasing our AI risk management policy, we are demonstrating to our customers ABBYY's commitment to responsible AI development, deployment, and governance," said Clayton C. Peddy, ABBYY's Chief Information Security Officer.

The move comes as C-suite executives grapple with mounting regulatory pressure. According to data from consulting firm Accenture, 77% of global executives now view AI regulation as a priority, while 39% identify partner collaborations as their biggest internal compliance challenge.

ABBYY's policy focuses on transparency in AI performance metrics and includes documented procedures for maintaining data security, integrity, and privacy throughout document processing operations. The company processes information in over 200 languages in realtime for more than 10,000 global clients, including many Fortune 500 companies.

"ABBYY provides customers with transparent performance metrics and characteristics of our AI technologies, including documented steps taken to maintain data security, integrity, and privacy throughout processing," explained Roman Kilun, the company's Chief Compliance Officer.

Beyond making its own policies public, ABBYY is working with non-profit organization ForHumanity to develop a Model Risk Management solution designed to help other companies improve their AI compliance and governance. The collaboration aims to create tools that align with regulatory frameworks like the US Federal Reserve's SR 11-7 Model Risk Management guidance.

"ABBYY is among the first companies to lead the development of and carry out an AI risk policy consistent with the EU Artificial Intelligence Act," said Ryan Carrier, Chairman of the Board and Executive Director at ForHumanity.

"Not just words on paper, but actively instituting rigorous assessments of risk factors, evaluating processes and controls, and establishing continuous monitoring of AI system performance."

The company has also formed a partnership with Law+Data, a legal firm specializing in data privacy and AI governance, to increase the auditability and traceability of AI compliance processes. Their initial collaboration focuses on credit decisioning applications.

To learn more, visit the ABBYY AI Trust Center to register for access to and view the ABBYY AI Risk Management Policy.