Two thirds of Australian federal government portfolios automate records management with Castlepoint AI
Australian artificial intelligence company records over 100 per cent year-on-year growth with new and expanded contracts with various Commonwealth agencies
Canberra, Australia – August 3, 2023 – Castlepoint Systems has announced that two thirds of Australian federal government portfolios have implemented its category-defining AI. This marks another year of significant growth for Castlepoint, and reflects the public sector’s transition to leveraging ethical, responsible (AI) for information governance and risk management.
In fiscal year 2023 (July 2022 to June 2023), Castlepoint welcomed lead and portfolio agencies in Agriculture, Fisheries and Forestry; Attorney-General’s; Climate Change, Energy, the Environment and Water; Education; and Employment and Workplace Relations, among others, to its user community.
These contracts, and others in higher education, critical industry, and the commercial sector in Australia and abroad, saw Castlepoint achieve more than 100 per cent year-on-year growth in FY23, with the company on track to continue its expansion in FY24.
Castlepoint now manages over 286.5 million records for its clients, equating more than ten records per Australian citizen, in over 1.6 million separate systems. The company has identified more than a quarter of a billion sensitive and high-risk records in enterprises that require protection, and applied records retention rules to these so they can be appropriately preserved or lawfully destroyed, reducing the potential harm of any future data spill.
“Government has significant obligations for compliant information management,” said Rachael Greaves, CEO and Co-Founder at Castlepoint. “The volume of digital records held by Commonwealth entities has jumped from 51 terabytes in 2013, to more than 314,000 TB in 2022. There is just too much volume, variety, and velocity of data for legacy control methods to be effective.
“Castlepoint has disrupted these traditional models that have failed the test of time, and helped keep the Australian public service at the forefront of accountability and responsibility. By making discovery, audit, privacy, cyber security, and records management part of one enterprise capability, we have joined the hands of compliance and cyber teams united against a common threat environment. This has amplified their ability to mitigate the risk of losing our nation’s records which results from a lack of effective command and control,” said Greaves.
Castlepoint supports agencies to discover, audit, and protect high risk and high value information from any system in a single interface with Explainable AI (XAI), and enables them to ease cost pressures and relieve strain on the nation’s public service.
This allows governance teams to have a complete view across the whole environment, and quickly and easily apply security, discovery, and compliance processes. Castlepoint’s XAI is also architected with ethical considerations to ensure decisions about records and their automated management do not pose risks to citizens.
Government customers like the Commonwealth Treasury are using the Castlepoint compliance system for more than just tactical management.
"Castlepoint has given Treasury’s information management team the ability to confidently provide metrics and insights to senior leadership, and to support strategies and plans for improving information management capability,” said a Treasury spokesperson.
“Having full control of information doesn’t need to cause unwanted impacts. With Castlepoint’s AI capabilities, we can know what data we have, where it is, and who is doing what to it. We can determine what inherent risk and value it has, what rules apply to it, and whether they are being met. And we can do this without the impacts we see on users, source systems, source data, or the regulatory team that we have all experienced before with other types of GRC solutions.”
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About Castlepoint Systems
Castlepoint Systems' powerful AI-driven platform is the intersection between cybersecurity and data governance. It is the only solution using ethical AI to unlock information management, eDiscovery, governance, risk, and compliance solutions for the fastest, easiest way to find, manage, protect, and de-risk all of an organisation’s information in a single interface. Founded in 2012 in Australia, the multi-award-winning solution allows governance and risk teams to have a complete view across the whole environment and optimise investment in security, eDiscovery, and compliance processes. With offices in Australia, UK and USA, Castlepoint’s scalable and transparent AI enables organisations to safeguard communities and people from data mismanagement and risk.