UK-based data security solution provider Metomic has launched a new tool that should help banks and other financial services firms that handle personal and sensitive data give insight into what company information is being uploaded onto OpenAI’s ChatGPT platform.
The firm describes its new Metomic for ChatGPT as ‘a cutting-edge technology that gives IT and security leaders full visibility’ as it focuses on what sensitive data is being shared via ChatGPT.
“The browser plugin enables financial services firm to take advantage of the generative AI solution without jeopardizing their company’s most sensitive data,” explained Rich Vibert, CEO of Metomic.
ChatGPT’s userbase
Shortly after OpenAI’s initial ChatGPT launch, the technology set a record for the fastest-growing user base when it gained 100 million monthly active users within the first two months.
Its explosive popularity has continued to grow as new iterations of the technology have been made available.
Meanwhile, multiple industry studies showed that bank and other employees are inadvertently putting vulnerable company information at risk by uploading sensitive data to OpenAI’s ChatGPT platform.
In fact, last year, reports showed that the amount of sensitive data being uploaded to ChatGPT by employees had increased 60% between March and April, with 319 cases identified among 100,000 employees in just one week alone, between April 9 and April 15, 2023.
“Very few technology solutions have had the impact of OpenAI’s ChatGPT platform, it is accelerating workflows, enabling teams to maximize their time, and delivering unparalleled value to the businesses that are able to take full advantage of the solution,” Vibert said.
“But because of the large language models that underpin the generative AI technology, many business leaders are apprehensive to leverage the technology, fearing their most sensitive business data could be exposed,” he added.
“We know the massive value ChatGPT offers businesses. It is the ultimate productivity platform.”
– Rich Vibert, CEO of Metomic
“Since Metomic’s ChatGPT integration sits within the browser itself, it identifies when an employee logs into OpenAI’s web-based ChatGPT platform and scans the data being uploaded in real-time,” Vibert continued.
“Security teams can receive alerts if employees are uploading sensitive data, like customer PII, security credentials, and intellectual property,” he added.
The browser extension includes 150 pre-built data classifiers to recognise common critical data risks. Businesses can also create customized data classifiers to identify their most vulnerable information, Vibert claimed.
The feature identifies critical security risks in ChatGPT conversations in real-time and offers contextual previews of sensitive data being uploaded to the platform.
Firms that implement the browser extension have visibility to sensitive data that is being shared with ChatGPT by employees using Chrome on desktop, London-based Vibert noted.
“We know the massive value ChatGPT offers businesses. It is the ultimate productivity platform, making entire workforces exponentially more efficient,” he stressed.
“We designed our ChatGPT feature so that security teams and employees can work together,” Vibert said.
Capital raise
The launch of the new tool comes only weeks after Metomic confirmed it had raised $20 million, primarily to finance the company’s planned expansion into the U.S. market.
The funding round, which was led by Evolution Equity Partners, Resonance and Connect Ventures, should allow Metomic to give its AI technology a capital injection, in order to place the company in a better position to penetrate the North American market.
“While SaaS tools increase employees’ productivity and enable collaboration among colleagues and partners, IT security teams have limited visibility and control over sensitive data stored within these apps,” said Yuval Ben-Itzhak, Partner, Evolution Equity Partners.
“Businesses adopt SaaS applications at a rapid pace.”
Ben-Itzhak firmly stated that “Metomic gets it. We believe their approach to SaaS data security can fill the gap by helping security teams control sensitive data and remain in compliance with regulations.”
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