How and Why to Use ChatGPT for Vendor Risk Management

Posted on September 11, 2024 by Brent Huston

Vendor risk management (VRM) is critical for organizations relying on third-party vendors. As businesses increasingly depend on external partners, ensuring these vendors maintain high security standards is vital. ChatGPT can enhance and streamline various aspects of VRM. Here’s how and why you should integrate ChatGPT into your vendor risk management process:

1. Automating Vendor Communications

ChatGPT can serve as a virtual assistant, automating repetitive communication tasks such as gathering information or following up on security policies.

Sample Prompt: “Draft an email requesting updated security documentation from Vendor A, specifically about their encryption practices.”

Example: ChatGPT can draft emails requesting updated security documentation from vendors, saving your team hours of manual labor.

2. Standardizing Vendor Questionnaires

ChatGPT can quickly generate standardized, consistent questionnaires tailored to your specific requirements, focusing on areas like cybersecurity, data privacy, and regulatory compliance.

Sample Prompt: “Create a vendor risk assessment questionnaire focusing on cybersecurity, data privacy, and regulatory compliance.”

Example: ChatGPT can create questionnaires that ensure all vendors are evaluated on the same criteria, maintaining consistency across your vendor portfolio.

3. Analyzing Vendor Responses

ChatGPT can process vendor responses quickly, summarizing risks, identifying gaps, and flagging compliance issues.

Sample Prompt: “Analyze the following vendor response to our cybersecurity questionnaire and summarize any potential risks.”

Example: ChatGPT can parse vendor responses and highlight key risks, saving your team from manually sifting through pages of documents.

4. Assessing Contract Terms and SLA Risks

ChatGPT can help identify gaps and vulnerabilities in vendor contracts, such as inadequate security terms or unclear penalties for non-compliance.

Sample Prompt: “Analyze the following vendor contract for any risks related to data security or regulatory compliance.”

Example: ChatGPT can analyze contracts for risks related to data security or regulatory compliance, ensuring your agreements adequately protect your organization.

5. Vendor Risk Management Reporting

ChatGPT can generate comprehensive risk reports, summarizing the status of key vendors, compliance issues, and potential risks in an easy-to-understand format.

Sample Prompt: “Create a vendor risk management report for Q3, focusing on our top 5 vendors and any recent compliance or security issues.”

Example: ChatGPT can create detailed quarterly reports on your top vendors’ risk profiles, providing decision-makers with quick insights.

More Info or Assistance?

While ChatGPT can drastically improve your VRM workflow, it’s just one piece of the puzzle. For a tailored, comprehensive VRM strategy, consider seeking expert guidance to build a robust program designed to protect your organization from third-party risks.

Incorporating ChatGPT into your VRM process helps you save time, increase accuracy, and proactively manage vendor risks. However, the right strategy and expert guidance are key to maximizing these benefits.

* AI tools were used as a research assistant for this content.

ChatGPT and other AI Tools Corporate Security Policy Template

Posted on June 7, 2023 by Brent Huston

As artificial intelligence continues to advance, organizations are increasingly integrating AI tools, such as ChatGPT for content and code generation, into their daily operations. With these technologies’ tremendous potential come significant risks, particularly regarding information security and data privacy. In the midst of this technological revolution, we are introducing a high-level Information Security and Privacy Policy for AI Tools. This comprehensive template is designed to provide a clear, practical framework for the secure and responsible use of these powerful tools within your organization.

About the policy template

The purpose of this policy template is to protect your organization’s most critical assets—proprietary corporate intellectual property, trade secrets, and regulatory data—from possible threats. It emphasizes the principles of data privacy, confidentiality, and security, ensuring that data used and produced by AI tools are appropriately safeguarded. Furthermore, it sets forth policy statements to guide employees and stakeholders in their interactions with AI tools, ensuring they understand and adhere to the best practices in data protection and regulatory compliance.

Why is this important?

The importance of such a policy cannot be overstated. Without proper guidelines, the use of AI tools could inadvertently lead to data breaches or the unauthorized dissemination of sensitive information. An effective Information Security and Privacy Policy provides a foundation for the safe use of AI tools, protecting the organization from potential liabilities, reputational damage, and regulatory sanctions. In an era where data is more valuable than oil, ensuring its security and privacy is paramount—and our policy template provides the roadmap for achieving just that.

More information

If you have questions or feedback, or if you wish to discuss AI tools, information security, and other items of concern, just give us a call at 614.351.1237. You can also use the chat interface at the bottom of the page to send us an email or schedule a discussion. We look forward to speaking with you.

Template download link

You can get the template from here as a PDF with copy and paste enabled.

*This article was written with the help of AI tools and Grammarly.

5 ChatGPT Prompt Templates for Infosec Teams

Posted on June 2, 2023 by Brent Huston

In the evolving world of information security, practitioners constantly seek new ways to stay informed, hone their skills, and address complex challenges. One tool that has proven incredibly useful in this endeavor is OpenAI’s language model, GPT-3, and its successors. By generating human-like text, these models can provide valuable insights, simulate potential security scenarios, and assist with various tasks. The key to unlocking the potential of these models lies in asking the right questions. Here are five ChatGPT prompts optimized for effectiveness that are invaluable for information security practitioners.

Prompt 1: “What are the latest trends in cybersecurity threats?”

Keeping abreast of the current trends in cybersecurity threats is crucial for any security practitioner. This prompt can provide a general overview of the threat landscape, including the types of attacks currently prevalent, the industries or regions most at risk, and the techniques used by malicious actors.

Prompt 2: “Can you explain the concept of zero trust security architecture and its benefits?”

Conceptual prompts like this one can help practitioners understand complex security topics. By asking the model to explain the concept of zero-trust security architecture, you can gain a clear and concise understanding of this critical approach to network security.

Prompt 3: “Generate a step-by-step incident response plan for a suspected data breach.”

Practical prompts can help practitioners prepare for real-world scenarios. This prompt, for example, can provide a thorough incident response plan, which is crucial in mitigating the damage of a suspected data breach.

Prompt 4: “Can you list and explain the top five vulnerabilities in the OWASP Top 10 list?”

The OWASP Top 10 is a standard awareness document representing a broad consensus about web applications’ most critical security risks. A prompt like this can provide a quick refresher or a deep dive into these vulnerabilities.

Prompt 5: “What are the potential cybersecurity implications of adopting AI and machine learning technologies in an organization?”

Understanding their cybersecurity implications is essential, given the increasing adoption of AI and machine learning technologies in various industries. This prompt can help practitioners understand the risks associated with these technologies and how to manage them.

As we’ve seen, ChatGPT can be a powerful tool for information security practitioners, providing insights into current trends, clarifying complex concepts, offering practical step-by-step guides, and facilitating a deeper understanding of potential risks. The model’s effectiveness highly depends on the prompts used, so crafting optimized prompts is vital. The above prompts are a great starting point but feel free to customize them according to your specific needs or to explore new prompts that align with your unique information security challenges. With the right questions, the possibilities are virtually endless.