Artificial Intelligence (AI) is one of the most transformational technologies of our generation & provides opportunities to be a force for good and drive economic growth. The growth of large language models (LLMs) via AI management, with hundreds of billions of parameters, has unlocked new generative AI use cases to improve customer experiences. AI Management Systems are deemed to boost employee productivity, scope of work, & so much more.
The AI industry reached an important milestone In Dec 2023 with the publication of ISO/IEC 42001:2023 the ground-breaking Responsible Artificial Intelligence Management System Standard. This AI Management System Standard is tailored for organizations that offer or use AI-driven products or services, with the goal of promoting the responsible development and utilization of AI systems.
ISO:42001 is an international management system standard that provides guidelines for managing AI systems within organizations. It establishes a framework for organizations to systematically address & control the risks related to the development & deployment of AI. This is where AI management comes into picture.
ISO 42001 emphasizes a commitment to responsible AI practices, encouraging organizations to adopt controls specific to their AI systems, fostering global interoperability, & setting a foundation for the development & deployment of responsible AI.
Understanding AI Management
Ensuring public trust in AI is vital. Integrating standards like ISO 42001 for #AIgovernance supports responsible use, fostering trust.
– Ethical #AIDevelopment: It addresses the unique challenges posed by AI, including ethical considerations, transparency, & continuous learning.
– Structured #RiskManagement: For organizations, it offers a structured way to manage risks & opportunities associated with AI Management, striking a balance between innovation & governance.
– Global Relevance: As the world’s first AI management system standard, it provides valuable guidance for the rapidly changing field of technology.
The ISO/IEC 42001:2023 standard closely aligns with the regulatory requirements under the EU’s Artificial Intelligence Act (AI Act). Adherence to the standard could potentially assist organizations with their #AIAct compliance.
One of the key elements of ISO 42001 is the establishment of an AI management system that aligns with an organization’s overall objectives & strategies. This involves defining the context in which the AI system operates, identifying the relevant stakeholders, & understanding their expectations & requirements.
ISO 42001 certification offers several benefits for organizations
– It improves the quality, security, traceability, transparency, & reliability of AI applications.
– It helps reduce development costs by providing a framework for efficient & effective AI management systems.
– It assists organizations in maintaining regulatory compliance & improving risk management in their AI operations.
Thus, ISO 42001 certification provides organizations with a roadmap for responsible & effective AI system development & management. Contact us if you want to learn more.
MitKat Advisory helps organizations pre-empt & manage operational risks and enable sustainable resilience.
View this post originally published on LinkedIn by MitKat Advisory.
