The growing importance of AI in business is undeniable, with more than 50% of businesses employing artificial intelligence for security and combating fraud. Additionally, beyond the practical applications for businesses externally, AI can be used internally to deliver better customer experiences through competitive tools and features. As the role of AI within an API business’ operations expands, so do the associated AI infrastructure costs. These expenses can quickly become a significant financial burden if left unchecked. Like all outward facing API-based tools, the key to success is API governance.
That’s where API governance steps in as a way of managing infrastructure costs and avoiding financial setbacks of monumental proportions. API governance allows an organization to regulate and optimize how AI resources and services are accessed and utilized, ensuring that businesses can offer an AI solution and features without breaking the bank. Governance serves as a strategic framework for controlling expenses in an effort to maintain the quality and reliability of offered AI implementation within services and solutions.