MetricStream, the industry leader in supporting the Governance, Risk, and Compliance (GRC) space, and Golden Gate University, announced the successful completion of the first phase of their “DeepEdge” project, using emerging technologies to bring innovation to business solutions.
The project started in 2019 with the goal of letting GGU faculty and graduate students in the MS in Business Analytics and MS in Information Technologies programs partner with MetricStream employees to develop new risk management solutions. The teams set out to use emerging model-based AI augmented with Machine Learning, Elastic Edge Computing, Agile methodologies maturing to DevOps, and Zero-touch Self-Managing service orchestration. The teams have successfully implemented the first application to assess and mitigate risk in enterprise contract management process, resulting in MetricStream adopting it as a part of their product suite.
“Contracts are legally binding agreements,” said Vidya Phalke, Chief Technology Evangelist at MetricStream. “Knowing the obligations for every contract, monitoring and assuring compliance is labor-intensive process and error-prone. The DeepEdge project uses model-based AI, machine learning and automation of extracting the knowledge of the obligations for every contract. It integrates with processes already in place and improves monitoring and contract obligation fulfillment at scale. This type of industry-academia collaboration is what is needed to power what is next in the post-pandemic world.”
Judith Lee, Business Innovation & Technology department chair, said the project “allowed graduate students and GGU faculty to work jointly with MetricStream to push the boundaries of machine learning and edge computing technologies.”
“We chose edge computing for security and data privacy reasons, and the deployment was facilitated by a zero-touch operations environment supported by Platina Systems,” said Ross Millerick, program director, MS/IT Management. “It allowed us to remotely access the infrastructure at MetricStream during the Covid pandemic, when our laboratory on campus was not available.”
“Bringing together thought leadership in AI that goes beyond deep learning and edge computing allows us to teach our students how to push the boundaries with federated AI and edge computing” said Rao Mikkilineni, distinguished adjunct professor.
The project spanned five terms and a succession of students. The students completed their capstone obligation with the project output with support from MetricStream. The project will continue to drive innovation in various enterprise business processes. Its vision is to build a long-term mutually beneficial partnership between the GGU business school and MetricStream, to inform the surrounding business community about the importance of GRC, and to provide an ongoing local forum for dialogue and education.
Leveraging the power of AI, MetricStream is the global market leader in Governance, Risk, and Compliance and Integrated Risk Management solutions, providing the most comprehensive solutions for Enterprise and Operational Risk, Regulatory Compliance, Internal Audit, IT and Cyber Risk and Third-Party Risk Management on one single integrated platform.
Golden Gate University, a private nonprofit, has been helping adults achieve their professional goals by providing undergraduate and graduate education in accounting, law, taxation, business and related areas since 1901. Programs offer maximum flexibility with evening, weekend and online options. GGU is accredited by the American Bar Association (ABA) and the WASC Senior College and University Commission.