Verax AI launches Verax Protect aiming to safeguard companies against rising security risks of AI

Verax AI, a B2B software start-up, has announced the launch of Verax Protect - a new solution aimed at companies operating in highly regulated industries that protects and mitigates against the risks of using generative AI. 

As companies look to embrace the productivity potential of generative AI, they are also becoming increasingly aware of the risks associated with its use. One of the biggest risks of generative AI is the potential for unintended leaks of sensitive data used in prompts.

Verax says 40 percent of businesses in the U.S. currently have paid subscriptions to AI platforms, models and tools, up from just five percent in 2023, and 30 percent have already experienced an AI-related security breach.

Verax Protect allows organizations working in highly regulated industries to unlock the benefits of AI without compromising on strict data privacy requirements and cybersecurity best practice.

The software prevents sensitive data from being leaked into third-party AI tools and stops AI software from exposing information to users that are not authorized to access it. 

While many companies choose to use training sessions and reminder pop-up banners to enforce organizational policies on the use of AI, Verax says these are “largely ineffective”. It says its Verax Protect software enables automatic enforcement of corporate AI policies preventing accidental and deliberate violations.

Verax also says its new system allows users to comply with sector-specific regulations and GDPR in Europe while using AI.

Leo Feinberg, Co-founder and CEO of Verax AI, explains: “Generative AI is a double-edged sword. It promises unprecedented gains in productivity, but it also introduces unprecedented risks. With Verax Protect, we’re enabling enterprises to stay competitive by leveraging the power of AI without compromising the security, privacy, and compliance of their most sensitive data.”