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A documented list of all AI tools and systems in use within an organization. An effective AI inventory records: tool name, vendor, what the tool does, who uses it, what data it accesses, the vendor's data handling terms, and who is responsible for governance. The AI inventory is the foundation of any AI governance program — you cannot govern what you have not catalogued. It should be updated whenever new tools are adopted and reviewed quarterly. Many AI regulations, including the EU AI Act, require organizations to maintain documentation of the AI systems they deploy.
Why this matters for your team
You cannot govern what you have not catalogued. Spend one hour mapping every AI tool your team uses — approved or not — and you'll immediately see where your governance gaps are. The inventory is the first artifact of any governance program.
A company's AI inventory shows it uses 12 AI tools across 8 teams. Three of these tools are used only by individual employees and were never formally approved — these become shadow AI risk items for the governance lead to address.