Scryb Launches New AI Governance Technology Business Unit, 'Raidian'

Rhea-AI Summary

Scryb Inc. (CSE: SCYB, OTCQB: SCYRF) has launched Raidian, a new business unit focused on AI governance and compliance solutions. The unit has developed a SaaS prototype for managing AI risks and regulatory compliance in enterprise environments. Yoav Raiter, with 30+ years of software expertise, has been appointed as Raidian's CEO, stepping down from his positions at Scryb to lead this venture.

Raidian's solution addresses enterprise challenges in managing interconnected AI systems, offering real-time monitoring and risk mitigation capabilities. The venture targets the AI software and services market, projected to reach $741 billion by 2027. James Van Staveren has been appointed as interim CEO of Scryb Inc.

Positive

• Launch of new AI governance business unit with developed SaaS prototype
• Targeting AI software market projected to reach $741 billion by 2027
• Appointment of experienced software expert as CEO for new venture

Negative

• Loss of current CEO to new venture
• Appointment of interim CEO indicates transitional leadership

Toronto, Ontario--(Newsfile Corp. - December 8, 2024) - Scryb Inc.  (CSE: SCYB) (OTCQB: SCYRF) (FSE: EIY) ("Scryb'' or the "Company"), is pleased to announce the launch of Raidian, a newly formed business unit delivering AI governance and compliance solutions for enterprises.

Radian empowers businesses with software to manage AI risks, streamline compliance efforts, and unlock operational efficiencies, enabling them to deploy AI with confidence in highly regulated and complex environments. With the growing demand for businesses to manage AI risks and comply with new AI regulations, Scryb is prioritizing the opportunity with Raidian. Raidian has successfully developed a prototype of its Software as a Service ("SaaS") product, and is actively presenting it at commercial showcases and live demos.

To accelerate the growth and leadership of this venture, Scryb has appointed Yoav Raiter, a seasoned software expert with over 30 years of experience in driving innovation, as Raidian's new CEO. Under the leadership of Yoav Raiter, Raidian is poised to become a trusted partner for enterprises navigating the challenges of AI governance. Yoav Raiter will step down from Scryb Inc. as CEO and from its Board of Directors to focus his efforts on the Raidian opportunity. The Company would like to thank Mr. Raiter for his several years of valuable contributions to Scryb, including to FRR, Cybeats, AI technology advancement, and leadership.

"The need for AI governance and management tools is greater than ever, as organizations face growing challenges in navigating AI risks and regulatory requirements," said Yoav Raiter, CEO of Raidian. "Raidian's mission is to equip businesses with the tools they need to ensure safe, trustworthy, and compliant AI systems, while capturing the immense potential of this rapidly growing market."

Radian addresses the critical challenges enterprises face in managing interconnected AI systems, where cascading effects across models can create significant risks. This venture builds on Scryb's successful track record of delivering scalable SaaS solutions, and targets the growing demand for AI governance, with the market expected to reach $741 billion in AI software and services spending by 2027.

Unlike conventional tools that focus on siloed AI models, Raidian's dynamic monitoring capabilities provide real-time insights into the interdependencies of AI systems, enabling proactive risk mitigation and compliance management. By automating key functions such as monitoring, risk assessment, and compliance, Raidian reduces complexity and cost while safeguarding enterprises from legal, financial, and reputational risks tied to non-compliance.

Radian's market faces a heightened global regulatory focus, such as the EU AI Act and the White House's Executive Order 14110, as well as Gartner's prediction that domain-specific AI will automate 20% of repetitive processes by 2026. As AI continues to evolve, Raidian is positioned to not only meet regulatory demands but to set the benchmark for safe and responsible AI adoption across industries.

Led by Yoav Raiter, Raidian is positioned to provide enterprises with tools to meet regulations like the EU AI Act and NIST guidelines, ensuring compliant and secure AI operations.

James Van Staveren has been appointed the interim CEO of Scryb Inc., effective immediately. Mr. Van Staveren has been part of the management team at Scryb for several years, and has substantial experience with corporate development, capital markets and investor relations.

About Scryb Inc.

Scryb specializes in building and scaling disruptive ventures in applied AI, digital health, cybersecurity, and biotech. Its portfolio includes Cybeats Technologies Corp., a cybersecurity leader where Scryb maintains a significant ownership stake. For more information, visit http://scryb.ai.

Contact:

James Van Staveren, CEO
Phone: 647-872-9982
Email: info@scryb.ai

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at https://www.sedarplus.ca/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232961

FAQ

What is Raidian and when did Scryb (SCYRF) launch it?

Raidian is Scryb's new AI governance and compliance solutions business unit, launched on December 8, 2024, offering SaaS products for enterprise AI risk management and regulatory compliance.

Who is the new CEO of Raidian and what happened to Scryb's leadership?

Yoav Raiter, a 30-year software industry veteran, was appointed as Raidian's CEO, stepping down from his position as CEO and Board member of Scryb. James Van Staveren was appointed as interim CEO of Scryb.

What market size is Scryb (SCYRF) targeting with Raidian?

Raidian is targeting the AI software and services market, which is expected to reach $741 billion in spending by 2027.