Image commercially licensed from Unsplash
Generative AI has experienced a remarkable surge in the past year, disrupting a myriad of sectors by leaps and bounds. From banking services, and retail, to logistics, this technology is not only set to bring about profound transformations but also has the potential to disrupt the fundamental pillars on which many industries currently rely.
An industry that may not immediately come to mind when it comes to AI disruption is security and compliance. Similar to the aforementioned industries, security and GRC rely on human labor, detection mechanisms, and automated systems, all of which can greatly benefit from the integration of AI technology. Existing solutions exclusively focus on workflow optimization, but at the end of the day, organizations still need experts to do the heavy lifting.
Just recently, Israel-based tech startup Vendict announced its stealth exit with $9.5 million in funding to launch the world’s first AI that masters security language. The company aims to power security compliance teams by leveraging the latest advancements in linguistic generative AI. Co-Founded by corporate hi-tech veterans Udi Cohen, CEO, and Michael Keslassy, CTO, the company’s goal is to be a business driver in the Governance, Risk, and Compliance (GRC) landscape by helping technology vendors fulfill their security requirements, and simplify the adoption of new technology. In a nutshell, AI does the tedious task of responding to these security questionnaires.
“We recognized that Vendict effectively addresses a genuine issue related to establishing trust among buyers, sellers, and regulators. Their solution innovatively combines their unique AI technology with precise utilization of generative AI techniques,” said Gadi Tirosh, Venture Partner at DisruptiveAI.
Gigi Levy Weiss, General Partner at NFX, shared: “By building the world’s first security language AI model, Verdict helps their customers reduce risks, save time, and accelerate sales cycles. Udi and Michael have the perfect experience to deliver on this vision and streamline how security compliance is done.”
A Closer Look at Vendict
Vendict was founded two years ago on a promise to solve the painful problem of Vendor Risk Management. The vision was to eliminate the pain of screening vendors, allowing continuous monitoring of an organization’s security posture and harnessing the power of generative AI to let data meet data, derive insights, and help make informed decisions.
Michael and Udi were ahead of their time by recognizing the immense potential of Natural Language Processing (NLP) and Generative AI as pivotal technologies for revolutionizing security questionnaires. Their visionary approach led to the creation of the world’s first AI-driven security compliance system.
Remarkably, even before these technological advancements emerged in the past year, the Vendict team had already grasped the fundamental importance of combining NLP and AI in automating various compliance tasks. Their forward-thinking mindset enabled them to realize that the integration of NLP and AI is not only crucial but also indispensable for streamlining and automating diverse compliance processes.
Through the creation of the world’s pioneering AI system proficient in security language, they equip security and GRC (Governance, Risk, and Compliance) teams with the ability to mitigate risks, save time, gain a competitive edge, and significantly expedite sales cycles. Their solution merges the specialized expertise of security and vendor assessment with the groundbreaking innovation of AI technology.
Udi said, “Filling out a security questionnaire is one of the least preferred activities of any CISO, GRC specialist, or sales engineer I’ve ever spoken with. By using the GRC-specific generative language model, this is the first time that this pain is truly solved. As the CEO, I’m getting to see the astonished faces of our customers when they realize that they will not need to manually respond to questionnaires anymore. This is satisfying in a way that I can’t explain. But still, this is just an intermediate step. The technology we are now developing will eliminate the need to send questionnaires altogether. Vendict will generate security assessment reports to the buyers, based on the sellers’ documents, and the criticality of the vendor.”
