Leading ModelOps platform now includes solutions for Executive Visibility for AI, modernizing Model Risk Management and AI Orchestration
March 15, 2022, Chicago, IL – ModelOp, creator of the market defining ModelOps platform, today announced the immediate availability of ModelOp Center™ 3.0, which includes significant enhancements and new capabilities in the company’s flagship product for governing and scaling AI initiatives.
Addressing the Core Issues for AI in Enterprises
Enterprises are making significant investments in their model development capabilities to leverage advances in data science and AI technology. Organizations with mature AI programs are operating multiple data science/machine learning and “MLOps” tools to help data scientists create models faster and automate the handoff of models into production. But these tools are focused on the needs of model developers and cannot address critical, enterprise- level business challenges, especially in non-digital native companies in industries such as banking, financial services, manufacturing, healthcare, pharma, retail and many others. Increasingly, issues regarding an organization’s exposure to liability and risk from the use of AI, as well as a lack of visibility to the ROI generated by AI investments, are becoming C- suite concerns.
ModelOp Center 3.0 delivers significant new capabilities that address the key questions and issues regarding executive visibility and enterprise-wide governance for AI initiatives, including:
- What is the business contribution and ROI of each model?
- Which models are at or nearing non-compliance breaches with internal risk controls and external regulations?
- How can we get more models through compliance and risk review and into production in less time?
- For all models used for business decisioning, how do I know that all aspects of each model are meeting production SLA’s across infrastructure, data, model, risk, and business concerns?
In addition to answering these critical questions, ModelOp Center orchestrates all the governance gates and controls throughout a model’s entire life cycle, from use case inception, to permission to build, to independent model review/validation of the candidate model, to IT and SecOps signoffs, production monitoring, model improvement, and eventual retirement. ModelOp Center integrates with, but is fully independent of all model development tools and model deployment environments, providing a capstone capability for AI in the enterprise.
Targeted Solutions Built on a Common Foundation
New to ModelOp Center 3.0 is an enhanced modular platform that supports three initial Solution Packages, each of which is focused on the needs of specific stakeholders:
- ModelOp Center Executive Visibility for AI (EV) provides senior executives with a unified view of the business contribution, ROI and compliance status of all models in production, providing better visibility to potential exposures and enabling more effective rationalization of AI budgets.
- ModelOp Center Model Risk Industrialization (MRI) provides enterprise risk organizations with a comprehensive view of the risk and compliance posture of all models across the company, and automates key processes including model validation, monitoring and compliance reporting. Organizations using MRI can increase model risk management team efficiency by 30- 50% or more with no increases in staff.
- ModelOp Center AI Orchestration (AIO) provides IT organizations with a means to standardize and automate model productionization across the enterprise. ModelOp Center AIO supports any type of model (algorithmic, stochastic, rule- based, NLP, ML, etc.), from any data science platform, MLOps tool or model repository, deployed in any runtime environment (on- prem, private cloud, public cloud, hybrid/multi cloud).
All ModelOp Center Solution Packages include ModelOp Center Foundation, which maintains an evergreen inventory of all models in production and their associated metadata, operational status and metrics, updated automatically and continuously through integration with all enterprise systems that play a role in creating, deploying, approving, operating and monitoring models in production. ModelOp Center Foundation also includes a model life cycle (MLC) automation engine that can automate any step in an MLC, including model registration, validation, deployment, testing, refresh, reporting and others, with fully automated workflow and capture of all actions and approvals, ensuring that no step is skipped or missed. The Solution Packages, which can be deployed individually or in combinations, are highly customizable but for many applications can be deployed out- of- the box using pre- built model life cycles, dashboards, monitors and integrations. Organizations can start realizing value in a matter of weeks. All Solution Packages share the common ModelOp Center Foundation resources, enabling ModelOp Center 3.0 to provide a “single source of truth” for all models in the enterprise.
“Working closely with our customers across many industries, we’ve seen the same concerns over and over again,” said Dave Trier, Vice President of Product Management for ModelOp. Trier continued, “There has been substantial investment in data science development, but minimal focus on addressing the manual, disjointed processes for ensuring those models are adhering to compliance and business KPIs. Current approaches are not sustainable as enterprises scale their AI programs. ModelOp Center 3.0 fully addresses these challenges out of the box, providing the foundation to govern and scale AI programs to realize the full business potential without scaling headcount substantially.”
– Masterclass Series with ModelOp’s CTO Jim Olsen
– “ModelOps for Dummies” ebook, dedicated to executives with accountability for Enterprise AI initiatives
– ModelOps and MLOps: What’s the Difference?
– See the demo
ModelOp, the pioneer of ModelOps software, enables enterprises to address the critical governance and scale challenges necessary to fully unlock the transformational value of enterprise AI and Machine Learning investments.
ModelOp’s flagship product, ModelOp Center, provides a comprehensive 360- degree view of all models in production across the enterprise and their operational status, compliance posture and ROI contribution, and fully automates model life cycles from inception to retirement.
Core to any AI orchestration platform, G2000 companies use ModelOp Center to govern, visualize and orchestrate models across the enterprise and scale their reliable, compliant, and profitable AI initiatives.