ISO/IEC 42001:2023, published in December, is a new standard that supports the development of AI management systems.

AI is rapidly revolutionising communities, cultures, and economies. As the technology grows, there is also a need for a uniform AI governance framework. This is key to unlocking AI’s full potential for businesses and society, while ensuring responsible development that instils confidence in stakeholders.

Developed by the international standards community, ISO/IEC 42001:2023 specifies requirements and provides guidance on establishing, implementing, maintaining, and continually improving an AI management system.

A broad-ranging standard by design, itis applicable to any organisation, regardless of size, type, and nature, that provides or uses products or services that use AI systems, helping them develop or use AI systems responsibly.

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Key benefits of the standard include:                                                

Risk management

ISO/IEC 42001:2023 can assist organisations in trouble-spotting and mitigating risks in AI technologies.  

By incorporating robust risk management practices into their AI governance framework, organisations can help safeguard against biases, security breaches, and other potential issues.

A scalable, integrable management system

The flexibility provided by the standard’s harmonised structure allows easy integration of existing privacy or cybersecurity management systems.  

A globally recognised standard

It will be a globally recognised standard that provides guidelines for the governance and management of AI technologies.  

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Systematic approach

The standard offers a systematic approach to addressing the key challenges with AI technologies including ethical use, data privacy, bias, accountability, and transparency.

Ethical AI Implementation

The standard could help organisations embed an ethical approach to their AI management system.

Improved Decision-Making and Accountability

It helps promote transparency in AI systems. This could enable better decision-making processes and accountability for AI outcomes.

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In summary, AI standards can provide clear baselines that help increase reliability, transparency and trust in AI systems while mitigating risks and concerns around bias, fairness, privacy, and accountability.

ISO/IEC 42001:2023 could be a powerful new tool in to harness and regulate the risks and potentialities of AI. The standard can also play a vital role coordinating the increasingly complex AI governance landscape through enabling a collaborative environment.

For more information on ISO/IEC 42001:2023 please visit AI Management System Standard Training Course.