We help customers unlock the full potential of AI while safeguarding against algorithmic risks, bias and negative impacts.
Lorykeet is based in beautiful Austin, Texas, home of founder Sam Nayak. Sam started Lorykeet after experiencing what he calls "AI winters'' in his three decades working with advanced technologies.. In his first decade, the technology infrastructure was just not ready to deliver against the hype. Then, in the second decade, he saw AI morph into Decision Based/Expert Systems that provided some degree of insight & automation but were limited in terms of mass scale and processing power. But now, in his third decade, we are seeing exponential advancements in the field. AI is beginning to live up to expectations and promises. But with this progress we see new risks emerge.
These risks fall into two categories:
- Regulatory Risks and
- Adoption Risks.
These risks could cause another AI winter - this time due to AI's "black box" algorithmic power. Automated decisions represent a new type of risk.
We realized companies needed an AI and ML Governance, Risk management and Compliance - a.k.a GRC for AI - solution that embraces Responsible AI and protects them from:
- Social risks – misuse, lack of fairness, certain groups being disadvantaged.
- Reputational risks – AI perceived to be biased and prejudiced.
- Litigation/Regulatory risks, including lawsuits for unfair practices.
We heard from companies struggling to deploy AI at scale in production and desperately in need for a solution to address critical business risks like:
- Is my AI and ML ethical/fair/bias free?
- Can it be trusted to provide transparency and explain the rationale behind business decisions?
- Can it provide protection from adversarial attacks?
- Can it proactively identify, manage and monitor these risks on an ongoing basis?
Lorykeet was formed to address these challenges with a mission to mitigate AI and ML risk and help to unlock its full potential responsibly. Under Sam’s diligent and passionate leadership, Lorykeet pursued and was awarded a grant from US National Science Foundation. This award provided the funding to design and build the Lorykeet platform, which has been operational and deployable since mid-2022.