#Japan #Tokyo #PrivacyTech #GRoW-VA #AI Audit

PrivacyTech Enhances AI Audit with New Funding

PrivacyTech, an innovative company based in Minato-ku, Tokyo, is making strides in the field of AI compliance and internal auditing with its newly unveiled AI agent, PrivacyTech GRoW-VA. The development of this sophisticated tool has received a significant boost through a recent fundraising effort, securing 74 million yen from notable investors, Delight Ventures and LAUNCHPAD FUND No. 2 Investment Limited Partnership.

Overview of the Fundraising

The funds raised will be allocated towards the enhancement of AI product development and strengthening the connections with content and partners. Amid rapid advancements in AI technology within companies, PrivacyTech recognizes the pressing need for effective audit systems that ensure compliance and transparency. These objectives must be met at various stages, starting from the planning phase all the way through product launch. This is crucial given the professional shortages in the sector and the absence of robust systems that facilitate audit operations.

Challenges in AI Implementation

Companies today are in a race to integrate AI solutions that optimize processes and help leverage data for growth. However, a critical gap exists concerning auditing and compliance, where firms struggle to manage the complex demands of regulation and governance. PrivacyTech aims to bridge this gap with its innovative audit AI, ensuring that companies can not only harness AI technology but do so responsibly and transparently.

PrivacyTech GRoW-VA Features

PrivacyTech GRoW-VA serves as a robust AI assistant in navigating the risks associated with AI deployment, particularly in the area of personal data usage. Key features of the GRoW-VA include:

• - Expert Support: The AI agent offers fast and accurate assistance in identifying risks and suggesting corrective actions related to AI governance and privacy concerns.
• - Knowledge Hub Integration: Collaboration with a comprehensive hub of domestic and international regulations, guidelines, and specialized literature empowers the agent’s functionality.
• - Customization: Businesses can adapt the AI agent to align with their internal policies and specific audit criteria, improving compliance and oversight ease.
• - Audit Flexibility: The GRoW-VA is designed to cater to both spot and ongoing auditing needs.
• - Comprehensive Reporting: The AI can generate necessary documentation, including personal data management records and DPIA reports.

With an impressive rollout strategy already in place, the GRoW-VA has gained substantial attention, especially among major corporations seeking to safeguard their AI strategies through robust risk management frameworks. Although still in beta, the product's potential to revolutionize how companies audit AI applications is evident.

Seeking Launch Partners

PrivacyTech is also calling for limited launch partners to help with the final release of GRoW-VA. The selected companies will have the opportunity to use the platform while providing feedback for enhancements and improving user experiences. Interested entities can find more information on the PrivacyTech website.

Investor Insights

Delight Ventures

Yusuke Nagano, Principal at Delight Ventures, emphasizes the importance of combining regulatory expertise with cutting-edge AI technology. He believes that PrivacyTech is on the frontier of creating a secure industrial framework that enables businesses to utilize varied data forms confidently. “The urgency for responsible AI operations and accountability has never been clearer, making PrivacyTech's mission vitally relevant,” Nagano stated.

LAUNCHPAD FUND

Toshiaki Shimakawa of LAUNCHPAD FUND reflects on meeting Daisuke Yamashita during a pitch event, remarking on the compelling narrative and passion behind the project. He highlights the growing significance of governance and is enthusiastic about how Yamashita’s insights have shaped the product development. He remains excited about the impacts PrivacyTech could unleash on society.

Leadership Remarks

Daisuke Yamashita, CEO of PrivacyTech, shared that this round of funding will fortify the development systems for GRoW-VA as a trusted infrastructure that alleviates the governance dilemmas faced by AI implementation in Japan. He aims to deepen collaborations with specialists and partner firms to facilitate service adoption across various sectors.

Company Profile

• - Name: PrivacyTech Inc.
• - Location: 3-2-1 Roppongi, Minato-ku, Tokyo, Sumitomo Realty Roppongi Grand Tower
• - CEO: Daisuke Yamashita
• - Established: January 11, 2022
• - Business Focus: Development of AI agents for privacy audits and consulting services.
• - Website: PrivacyTech

For any media inquiries regarding this announcement, please contact PrivacyTech’s press office at info@privacytech.co.jp.