Pirani AI: Intelligent Agent for Risk Identification and Management

Pirani is a comprehensive risk management software designed to democratize
risk administration globally. It provides a streamlined solution that encompasses
identifying, measuring, controlling, and monitoring risks, adhering to both
international methodologies and local regulations. Known for its user-friendliness
and excellence, Pirani has become a benchmark in the industry, earning
accolades such as G2 recognition.

Our Challenge

Although Pirani effectively handles various operational risks, users struggled to
identify and define specific risks within their organizations. This lack of clarity
compromised the quality of risk management and increased operational burdens, requiring frequent support. Without proper guidance, companies risked ineffective management, which may result in regulatory sanctions, and poor resources allocation. Addressing this issue was critical to optimizing risk identification processes and ensuring compliance.

How We Solved It

To tackle Pirani's risk identification challenge, Pragma deployed an AI solution powered by AWS GenAI services, leveraging Amazon Bedrock to automate risk detection and provide tailored recommendations. Key services, such as AWS Lambda and EKS, were integrated to enhance efficiency and scalability. This resulted in a 30% reduction in operational load and improved the precision of risk management, solidifying Pirani as a leading innovative tool in its field.

Key AWS Services Implemented in the Solution

• AWS Bedrock:

  It serves as the engine behind the intelligent agent, generating prioritized risk lists and answering frequently asked questions.
  This service leverages a knowledge database with vector-based information on policies and frameworks, enabling users to access a more streamlined and informed risk management process
  
  

• AWS CloudFront:

  Used to host the Pirani Risks web portal, leveraging AWS WAF's OWASP rules to safeguard the platform against common security threats, ensuring fast and secure content delivery to users.
  
  

• AWS EKS:

  This service manages the microservices that host Pirani's business logic, enabling a scalable and highly available implementation. EKS ensures that the platform efficiently handles the complex management of operational risks in a robust and adaptable manner.
  
  

• AWS API Gateway:

  It acts as an intermediary between the front-end layer and the microservices, securely and efficiently exposing the APIs, enabling fast and stable communication between the different layers of the application.
  
  

• AWS Lambda:

  It performs two key roles - encapsulating the interaction logic with the Bedrock-based agent to expose it as an API, and managing the logic for processing onboarding information for Pirani's clients, optimizing workflows and reducing operational workload
  
  

• AWS RDS (Aurora):

  Implemented to store the vector data from the Bedrock agent’s knowledge database, providing a scalable and high-performance storage solution to efficiently handle large volumes of data.
  
  

• AWS S3:

  Stores structured and unstructured data that feed into the knowledge database and onboarding information, ensuring that the data is quickly and securely accessible.
  
  

• AWS Cognito:

  Implements an authentication domain to enable the secure consumption of resources by the frontend, generating tokens that integrate with API Gateway to ensure user protection and authentication when accessing services.
  
  

• AWS IAM:

  Defines security policies and roles that ensure minimum access rights to each component, guaranteeing a secure infrastructure while adhering to best access control practices

These services, when combined, enable Pirani to offer a comprehensive, scalable, and secure risk management solution, ensuring the protection of sensitive data and optimizing the user experience.

Outstanding Results and Real Impacts

• 95% accuracy achieved by the model created using Amazon Bedrock.
• 60% reduction in user operational load (we moved from a 3-step risk
  creation process to a single step).
• Mass risk identification and creation, allowing users to create up to 5 risks
  in a single interaction, compared to just 1 manually.
• Reduction in preliminary operational risk identification from 2 hours using
  interviews to just 20 minutes of interaction with the agent.
• Virtual assistance available 24/7 for risk identification and definition
  
  

Impact on business: Automation freed up resources for strategic tasks, enhancing operational efficiency and helping position the company, while improving competitiveness in the market.

Impact on developer productivity:  The incorporation of artificial intelligence transformed the tool, endowing it with advanced capabilities that go beyond simple risk documentation. Users can now autonomously manage their risks without relying on specialized consultants. This evolution allows the AI solution to transform the SaaS into an intelligent platform for proactive risk management.
The integration of artificial intelligence has transformed the tool, equipping it with
advanced features that extend beyond basic risk documentation. Users can now
manage their risks independently, without needing specialized consultants. This
has resulted in a 60% reduction in manual processes, significantly boosting
efficiency and improving user satisfaction 

With these innovations, the AI-driven solution built using AWS generative AI
technology positions Pirani as a comprehensive platform for proactive risk
management.

Start Date: 02 Sep 2024
End Date: 14 Oct 2024