**London**: Whistic unveils the updated Assessment Copilot, an advanced AI-driven third-party risk management solution that streamlines vendor assessments, reduces costs, and enhances decision-making processes. The new features demonstrate Whistic’s commitment to innovation and efficiency in the TPRM landscape.
Whistic has unveiled the next generation of its Assessment Copilot, a sophisticated third-party risk management (TPRM) solution that integrates artificial intelligence (AI) to revolutionise the vendor assessment process through a fully automated workflow. The latest iteration builds upon the initial launch of the Assessment Copilot, as well as the Whistic AI suite, which debuted in May 2024.
According to Whistic, the modern, AI-first approach is designed to enhance the efficiency and speed of TPRM assessments, significantly reduce costs, offer deeper insights, and strengthen risk mitigation efforts. “The pioneering launch of Assessment Copilot was a major step toward eliminating the manual, fragmented, cumbersome aspects of legacy TPRM,” commented Nick Sorensen, CEO at Whistic, highlighting the importance of innovation in the technology.
The Assessment Copilot functions as a fully integrated AI partner, allowing users to dictate the extent to which they utilise its capabilities. Users can either automate assessments entirely or streamline specific tasks with AI assistance. This departure from traditional TPRM software—which often integrates AI as a mere add-on or standalone feature—ensures that information security and risk teams no longer depend solely on questionnaires for their assessments. With the new system, teams can utilise existing vendor documentation to alleviate process bottlenecks.
Over its nearly ten-year journey, Whistic has focused on delivering innovative solutions that address the prevalent challenges in the TPRM space, notably speed, effectiveness, and cost-efficiency. The launch of the original AI-assisted Assessment Copilot marked a significant milestone in tackling these issues, paving the way for the current enhancements aimed at achieving fully AI-driven risk assessment automation.
Whistic has emphasised several key differentiators in its TPRM approach, including the continuous advancement of AI technology, the comprehensive integration of AI capabilities, and a focus on utilising AI to resolve real-world customer challenges. “Organizations rely on AI-driven insights to make informed security and risk decisions, and any inaccuracy can introduce risk rather than reduce it,” explains Juan Rodriguez, President & CTO. He stressed the importance of prioritising precision and clarity within their AI systems to build customer trust in the assessments.
The new Assessment Copilot offers a rapid assessment process, eliminating the traditionally labour-intensive components by automating steps from the initial intake to the final decision and subsequent reassessments. The system efficiently consolidates relevant vendor data from Whistic’s Trust Catalog, previous assessments, and web sources, thereby saving significant time during the evaluation process.
AI capabilities further enhance the user experience, as Copilot automatically analyses the gathered information, interprets key data points, and conducts the assessment. Additionally, the system categorises responses based on confidence levels, identifies potential risks, and suggests mitigation strategies, allowing users to concentrate on critical aspects of the assessment.
The Assessment Copilot is now available for organisations looking to enhance their vendor risk management processes with the latest technology designed to optimise efficiency, accuracy, and insights in TPRM assessments.
Source: Noah Wire Services
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