Glossary
Updated
A holistic program combining runtime behavior monitoring (error rates, bias metrics, security alerts) with horizon-scanning activities (new regulations, policy shifts, academic findings). Alerts feed into governance workflows, and regulatory-change trackers notify compliance teams of updates requiring policy or system adjustments. Governance defines channels for threat intelligence, regulatory monitoring, and periodic review cycles to ensure the AI program remains current and compliant.
Example
A financial-trading firm’s Vigilance Monitoring team reviews daily model performance logs and scans regulatory bulletins for new guidelines (e.g., MiFID II AI usage standards). Upon detecting a proposed rule change, they initiate a policy-update process, mapping new requirements to system controls and ensuring readiness before the regulation’s effective date.