Aravo, which provides third-party risk and resilience technology, has launched Aravo AI, an artificial intelligence capability embedded within its Intelligence First Platform. Aravo AI says its AI agents, built directly into third-party risk assessments and management, enable automation of manual processes, access to real-time data, and improved transparency and auditability.
“Third-party risk management (TPRM) is one of the clearest use cases for AI,” the company said in its April 21 release. “The work is data-heavy, time-sensitive, and tied directly to business outcomes.”
Aravo said that, rather than relying on point-in-time reviews and manual coordination, teams can use Aravo AI to run more continuous processes that adjust as new risks and requirements emerge. The idea is to make evaluations more consistent, and to improve the quality of the data behind decisions. Teams can also review, challenge, and override AI outputs at any point, with clear visibility into the data and sources behind each recommendation so they can reduce manual work and instead focus on judgment and decision-making, the tech vendor said.