Shaping trust in AI – Understanding the ISO 42001 standard
Artificial intelligence (AI) is now becoming an essential part of our daily lives. As AI continues to evolve and enter various aspects of our lives, it becomes imperative to address the need for regulation, creating a framework that protects the rights and values of individuals while fostering innovation.
Companies with AI-enabled products, services, or management systems should prepare for upcoming regulations to nurture a more secure and beneficial environment. As AI progresses, it's evident that AI management must evolve as well.
The world’s first international standard, Information Technology Artificial Intelligence Management System (ISO/IEC 42001:2023) identifies requirements for establishing, implementing, maintaining, and continually improving an artificial intelligence management system (AIMS) within organizations. It’s designed to provide or use AI-based products or services, promoting responsible development and use of AI systems.
According to Yahoo Finance, 62 percent of surveyed IT leaders increased their investment in emerging applications, and 82 percent say they are prepared to leverage generative AI. Investing in ISO 42001 has many benefits.
Benefits of ISO 42001
- Contributes to UN Sustainable Development Goal 9 on industry, innovation, and infrastructure
- Framework for managing risk and opportunities
- Demonstrates responsible use of AI
- Traceability, transparency, and reliability
- Cost savings and efficiency gains
ISO 42001 undertakes challenges like ethics, transparency, and ongoing learning, supporting organizations in its structured approach to navigating AI's risks and rewards while harmonizing innovation and governance. An AI system operates by taking input, like data and rules, which can come from humans or machines. It then uses this input to do tasks. So, the input gets processed using models and algorithms, providing an output.
Having outlined the challenges tackled by ISO 42001 in navigating the intricacies of AI, organizations should adopt strategies to sustain and enhance AI systems as they progress and advance as a business, and this involves upskilling and re-skilling people through training as well.
These training courses equip people with the knowledge and skills to adopt, develop, and deploy AI effectively and ethically. BSI has developed on-demand and instructor-led courses that explore essential topics around published standards for robustness, trustworthiness, and performances of AI systems, as well as bias, risk management, and AI management systems. These training courses provide interactive and in-depth learning experiences, providing people with the knowledge and skills to adopt, develop, and deploy AI effectively and ethically.
Whatever size of your business, establishing, implementing, maintaining, and continually improving an artificial intelligence management system like ISO 42001 can promote trust in stakeholders and clients, creating a safer and more beneficial environment.
