Verax AI, a company specializing in enabling the secure adoption of artificial intelligence for enterprise use, has announced the global introduction of Verax Protect. This new solution is designed to assist large organizations, particularly those in highly regulated industries, in identifying and mitigating Generative AI-related risks, including the inadvertent exposure of sensitive data.
The launch addresses a growing concern among enterprises rapidly adopting Generative AI for productivity gains. The technology presents risks such as data leakage, where employees unintentionally submit sensitive or proprietary information into Gen AI prompts, thereby exposing it to external third-party tools. Recent data indicates a significant increase in enterprise AI adoption, with over 40% of US businesses now holding paid subscriptions to AI models, platforms, and tools, up from 5% in 2023. Concurrently, 30% of organizations currently utilizing AI have reported experiencing AI-related security incidents. These threats are becoming more costly, with the global average cost of a data breach reaching an all-time high of $4.88 million in 2024, a 10% increase year-on-year.
Verax Protect aims to enable enterprises, including those in sectors such as finance, healthcare, and defense, to leverage AI benefits without compromising their data privacy and cybersecurity protocols. Key functionalities of Verax Protect include preventing sensitive data from being leaked into third-party AI tools, blocking AI tools from exposing information to unauthorized users, and automating the enforcement of organizational AI policies. This contrasts with traditional methods like training sessions and pop-up banners, offering a more robust approach to compliance. Additionally, the solution assists companies in demonstrating compliance with data protection certifications such as GDPR in Europe and sector-specific US laws like HIPAA for healthcare and GLBA for financial services.
Leo Feinberg, Co-founder and CEO of Verax AI, stated, “Generative AI offers significant productivity enhancements but also introduces unique risks. With Verax Protect, we are empowering enterprises to remain competitive by utilizing AI’s capabilities while safeguarding their most sensitive data regarding security, privacy, and compliance.”
Verax AI, founded in 2023 by serial technology entrepreneurs Leo Feinberg and Oren Gev (CTO), builds on their prior experience, which includes co-founding CloudEndure, a cloud migration and disaster recovery company acquired by Amazon Web Services for $250 million. The company’s product suite also includes Verax Explore and Verax Control, which provide visibility and management capabilities for internal and external AI tools. Verax Protect integrates with existing internal systems and provides granular controls to meet both technical security requirements and organizational policies, positioning it as an enterprise-grade, real-time oversight and risk mitigation solution for contemporary AI cybersecurity challenges.
