CEO Message: A look at 2022 and a glimpse into 2023
A look back at 2022 and a glimpse into 2023:
As we approach the end of 2022, I wanted to take a moment to express my gratitude to all of you—our customers, partners, investors, advocates, and families—who have supported Credo AI and our endeavours throughout the year.
The past year has been a turning point for the democratization of AI. In the industry, we have witnessed a rise in regulations, informed action from policymakers, increased investments in Responsible AI, and an increasing demand from consumers for trustworthy AI technologies.
The growing need for AI solutions being built with continuous governance and increased transparency became critical—and we are proud to have been at the forefront of this movement.
Thanks to our product and policy expertise, and our mission to empower every organization to develop AI with the highest ethical standards, Credo AI has seen significant growth this year. We have 3X our customer base, added new product offerings to our AI Governance Platform, and strengthened (4X) our global team—hiring top talent worldwide.
It's been an impact-driven year, and while it is not possible to share all that has happened, I want to take a moment to highlight some industry-shaping product, policy, and ecosystem moments with you. In this year-end review, I am elated to spotlight some of Credo AI’s most significant achievements and reflect on our progress in addressing the challenges and opportunities of the AI industry.
In 2022, we launched our AI Governance Platform and open-sourced our assessment framework, Credo AI Lens.
This year, our Responsible AI governance software platform enabled global 2000 customers in Financial Services, Insurance, HR, and Government to deliver Responsible AI across their businesses.
Our end-to-end governance, risk, and compliance platform is the first context-driven platform of its kind designed to standardize governance to increase confidence in your AI design and accelerate the deployment of AI systems while providing comprehensive risk management for the enterprise. Additionally, we announced Lens, our open-source assessment framework that provides structured and interpretable AI assessment to enable organizations to meet existing/new regulations, industry standards, and company guidelines.
With our AI Governance Platform and Credo AI Lens, Responsible AI became a real and achievable goal for every enterprise in the world—not just a buzzword or a pipe dream. Want to see it in action to meet your business goals? Book your demo today!
We brought meaningful action to the policy ecosystem and expanded our partnerships.
In 2022, we worked hard to deliver value to policymakers and standard-setting bodies worldwide. This has resulted in increased trust with Credo AI across policymakers and standard-setting bodies. We have had the opportunity to work closely with the National Institute of Standards and Technology on the AI Risk Management Framework (AI RMF), the National Artificial Intelligence Advisory Committee (NAIAC), and participate in global regulatory sandboxes to provide actionable insights and recommendations regarding current AI policies, such as the EU AI Act. By collaborating with leading standard-setting bodies worldwide, our goal is to make a meaningful impact on the direction of trustworthy AI and its role in shaping the future, as well as bringing expertise to the development of policies and regulations related to Autonomous Systems.
We made the news—big time!
Our work operationalizing Responsible AI garnered significant attention from the media this year, with coverage in notable publications at Forbes and Fast Company! Through interviews and papers, we were able to share more about our work developing the AI Governance Platform, showcase the innovative work that we are doing to promote the responsible use of AI with our customers, and highlight Credo AI's leadership in advancing this technology.
Credo AI’s pioneering technology has been recognized by the World Economic Forum as its 2022 Technology Pioneer. Analysts see the value that Credo AI is bringing, which has resulted in recognition as the Responsible AI vendor by IDC and digital disruptor by Intellyx. We appreciate the recognition and look forward to many more in 2023—-but our work has just started as AI advancements continue to unfold and as democratization with generative AI techniques, AI risks (e.g., misinformation, fairness, regulatory non-compliance, etc.) continues to be on the rise. At Credo AI, the only thing that drives us is deep impact and ensuring technologies like AI are aligned with human values.
In 2022, we worked hard to bring product innovations, drive regulatory collaboration, and bring thought leadership to Responsible AI governance. Here are some of our highlights:
- January: Our Founder and CEO, Navrina Singh, was named Forbes Next 1000.
- February: Credo AI partnered with Data & Trust Alliance to lead Responsible Data & AI Diligence for M&A (Press Release) and was featured in Forbes.
- March: IDC featured Credo AI as a key Responsible AI Vendor.
- April: Our Founder and CEO was appointed to the National Artificial Intelligence Advisory Committee (NAIAC), and we announced the world's first Responsible AI Governance Platform.
- May: Credo AI announced a $12.8M Series A Funding Round for Responsible AI by Sands Capital and was selected as a 2022 Tech Pioneer by The World Economic Forum.
- June: Credo AI was selected as one of 60 companies from 53 countries to participate in Open Loop and participated in the public response written to the New York City Department of Consumer and Worker Protection in hopes of clarifying some of the ambiguities in Local Law 144.
- July: We kicked off our Realizing Responsible AI roundtable series in Washington, D.C.
- August: We hosted our first webinar on New York City’s Local Law No. 144.
- September: Credo AI testified before the U.S. House of Representatives Committee on Science, Space and Technology Subcommittee on Research and Technology.
- October: We hosted our first Global Responsible AI Summit and attracted more than 1,100 registrants across six continents.
- November: We announced the release of a major update of our Responsible AI Platform focused on Responsible AI transparency reports and disclosures.
- December: Credo AI was named Next Big Things in Tech, and Credo AI’s customer, Amazon Web Services (AWS), announced AI Service Cards—bringing more transparency to responsible development and use of AI.
What to Expect in 2023: Our Predictions and Anticipations.
As we look ahead to the coming year, I am excited to see what the future holds for the AI industry. It is going to go beyond product innovations to policy effectiveness and ecosystem collaboration. I am confident that we will continue seeing more organizations embracing AI Governance and harnessing the power of Artificial Intelligence to solve some of the world's most pressing problems.
However, as 2023 approaches, businesses need to begin preparing now for the increasing legal oversight, stricter global regulatory requirements, and high-pressure public demand for fair and equitable AI systems that are expected in the near future.
To help companies stay ahead of the changes in AI next year, I’ve compiled 5 AI predictions for 2023. These predictions are designed to help businesses position themselves for success in the face of the rapidly changing landscape of Artificial Intelligence. From the emergence of Generative AI Governance as a hot topic of discussion in the industry to the role of Responsible AI in supporting the standardization of ESG, we believe that 2023 will be the year that AI Governance becomes a critical investment to deliver on fail-safe and Responsible AI. Check out our predictions today and let us know how Credo AI can help you ensure responsible development and use of AI.
Overall, the AI industry is poised for a transformative and exciting year filled with challenges and opportunities. By working together, we can strive for an AI-powered future that is ethical, transparent, and accountable.
I look forward to continuing our collaboration and making an even greater impact in AI in the coming year. Thank you for being a part of our journey. A happy year to you!
Are you interested in staying up to date with the latest industry and company updates? Don't miss out! Register now to receive our weekly newsletter and stay informed about all the latest developments in the Responsible AI Industry. ⬇️
Stay in the loop
Subscribe to our blog and get the latest posts delivered right to your inbox