At the very end of last year, the standard ISO/IEC 42001 was launched, resulting from a joint standardization project between the ISO and the IEC.
It is an international standard for establishing, implementing, maintaining, and continually improving an Artificial Intelligence Management System (AIMS) within organizations.
It is meant for organizations of any size providing or utilizing AI-based products or services, ensuring responsible development and use of AI systems.
It is the world’s first AI management system standard to provide guidance for this rapidly changing field of technology.
The standard addresses the unique challenges of AI, such as ethical considerations, transparency, and continuous learning. For organizations, it shall provide a structured way to manage risks and opportunities associated with AI, balancing innovation with governance.
ISO/IEC 42001 is applicable across all industries, whether companies or non-profits, and is also relevant for public sector agencies.
Amongst the claimed benefits are:
- Framework for managing risk and opportunities
- Demonstrate responsible use of AI
- Traceability, transparency and reliability
- Cost savings and efficiency gains.
The standard specifies the requirements for a certifiable AI management system framework, allowing organizations to
maximize advantages and also be certified for assuring stakeholders that systems have been established, and are being managed, ethically.
In Europe, a significant milestone was achieved when the EU Parliament decided on the ‘AI Act’. This legislation serves as the world's first dedicated law on AI, setting a global precedent. Further info about this may be seen here.
So the EU and other major economies, including the US and UK, are shaping the AI regulatory landscape with
implications of such regulations for industries and businesses. In this landscape, the standard ISO/IEC 42001 will surely have a role to play.
For further information, please contact Helena.Vogl@nemko.com or Shahram.G.Maralani@nemko.com
(The article is based on the various articles available on internet and edited by T.Sollie)
