Crowe creates AI governance framework and AI platform
Company
Crowe LLP is a public accounting and consulting firm that uses its deep industry expertise to provide audit, tax, and consulting services to public and private entities.
Challenge
Crowe wanted to take advantage of AI-powered solutions for its firm but needed an AI platform that would properly protect firm and client data and meet the firm’s commitment to risk management and privacy.
Support
Backed by the support of the executive suite, Crowe pulled together a cross-functional team to advance the development of both the AI governance framework and the AI platform. The team included representatives from applied AI and machine learning, product engineering, firm strategy, risk management, and a variety of client-facing lines of business.
Solution
With AI governance at the forefront, the team developed CroweMind, a proprietary generative AI platform, in the fall of 2023. With custom prompts and workflows, the platform could be used across the firm for a variety of tasks, including document review, creation of deliverables, and more. The team also developed a formal internal AI governance framework as well as an educational program and certification course for CroweMind.
Solution snapshot
By including risk management and privacy specialists from the beginning of the project, Crowe was able to develop a holistic platform that took the needs of the firm – and its clients – into account.
Believing that people are the first line of defense for new technology, the team also partnered with the firm’s education specialists to develop a training and certification course for CroweMind. Anyone in the firm who wants to use this tool must complete training, which helps mitigate risk while kick-starting the use of the platform.
Our team can help you create an AI governance framework tailored to your industry and needs.
Takeaways
Here are just a few things that helped the team achieve success while developing CroweMind in conjunction with a robust and nimble AI governance program:
- Enthusiastic executive support from the beginning of the project helped clear roadblocks and allowed for an accelerated timeline.
- The One Crowe approach enabled the firm to create a cross-functional team that tapped into expertise across Crowe, which helped mitigate a variety of issues while creating comradery and firm buy-in.
- The team’s “learn fast” mindset allowed for many rounds of testing, reviewing, and tweaking along the way, which helped it create a more useful platform while also offering lessons for future technology developments and use cases.
- As both the technology and the field around generative AI are constantly shifting, the team continues to ideate and iterate. CroweMind, along with AI governance, is not a one-and-done deliverable. It’s a project that will continue evolving in the face of shifting technology, regulations, and firm needs.
