Aravo AI (Artificial Intelligence)

Aravo AI (artificial intelligence) can save your third-party risk management team from being overwhelmed by the sheer volume of data needed to make decisions and the tedious/low-value tasks associated with decision making processes. Leveraging the power of machine learning and natural language processing, Aravo AI reduces the burden by automating processes without going through the complicated and time-consuming process of building explicit models. It can also support your program with decision support, predictive intelligence, and data verification.

To ensure that AI results reflect your organization’s risk appetite and program, Aravo AI “learns” from the decisions made by your users on your data. This approach provides more customized results than products that use generic data sets aggregated from multiple organizations.

Aravo AI use cases include:

• Automation – Reduce manual steps by automating low-risk decisions when there is a high degree of accuracy, such as automatically approving a third party that Aravo AI has categorized as low risk or triggering enhanced due diligence for a third party categorized as high risk.
• Intelligence – Increase confidence in decision-making by presenting Aravo AI recommendations to users. For instance, a Risk Expert reviewing an assessment may see an Aravo AI recommendation for approving/denying a third party, along with a percentage of confidence calculated by Aravo AI.
• Prediction – Based on past actions, Aravo AI can monitor changes that indicate a change in the risk profile and take action, such as re-classifying a third party as non-compliant and triggering an Issues & Corrective Actions Workflow based on a change in continuous monitoring data.

Download this Capabilities Sheet to learn more about the features of Aravo AI and how it can help your TPRM program move faster, scale better, and act with confidence.