ISO 42001: The Importance of Responsible AI Management

At a glance:

• The main takeaway: Getting an ISO 42001 certification allows firms to demonstrate that they know how to use AI responsibly and are committed to doing so.
• The impact to your business: Firms that use AI should get the ISO 42001 certification to ensure their AI is being used responsibly and to reassure their customers that they are mitigating bias and other risks in their AI solutions. 
• Next steps: Read more about ISO 42001 and why it’s important, then reach out to Aprio for help achieving the certification. 

Schedule a consultation with Aprio’s Information Assurance Services specialists today.

The full story:

The emergence and proliferation of Artificial Intelligence (AI) and AI-enabled tools is shaping up to be one of the most significant IT developments in the 21^st century. This technology has the potential to overhaul and revolutionize processes, practices, and even entire business models throughout the economy, which is understandably exciting for businesses that stand to benefit from AI. However, as with many new technologies, AI-enabled solutions can come with unanticipated risks. Without proper risk management, data management, and controls in place, AI can introduce or fall prey to bias, discrimination, ethical concerns, compliance issues, and data security problems, putting their users at risk.

Though there is a lot of discussion about the risks related to AI, few people are talking about practical methods for managing that risk, or how to prove that they are doing so. A growing number of laws, standards, and regulations provide some guidance for using AI responsibly, but there is currently only one certifiable standard that allows businesses to show that they are committed to responsible AI use: ISO/IEC 42001.

What is ISO/IEC 42001?

ISO/IEC 42001 is a comprehensive framework and set of standards developed by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) that sets out a structured way to manage the risks and opportunities associated with AI through implementation of an AI Management System (AIMS). ISO 42001 is the world’s first AI management system standard, and as such provides a global benchmark for establishing, implementing, and continually improving AI within organizations.

The ISO 42001 standard is designed to provide an integrated approach to managing AI and identifying, evaluating, and mitigating the risks associated with it, with the end goal of achieving and demonstrating the safe, ethical, and responsible use of AI. The standard covers many aspects of AI technologies and the various AI-driven applications that organizations might be using with a special emphasis on responsibly integrating an AIMS into organizations’ existing structures to promote continuous improvement.

Designed to balance innovation with governance, ISO 42001 lays out a list of controls, methodologies, and leading practices intended to mitigate risks and negative implications while increasing efficiency, identifying opportunities, and ensuring the ethical and responsible use of AI, including management of the data sets utilized by AI. The standard provides detailed guidance for the establishment and maintenance of an AIMS as well as a list of required procedures for certification. 

Organizations that want to achieve a ISO 42001 certification are required to conduct comprehensive risk assessments and impact assessments, ensure their AI systems comply with data protection laws and implement robust security measures to protect private data against breaches and implement procedures for continuous monitoring and improvement of AI designed around the “Plan-Do-Check-Act” method.

Why is ISO/IEC 42001 Important?

AI governance is still in its infancy, and ISO 42001 is currently the only standard of its kind. It’s one of the only sources of guidance for addressing some of the biggest and least explored AI-related challenges, making it an invaluable resource for organizations that want to mitigate those risks but aren’t sure how. It provides a comprehensive framework for governing and managing AI through a defined AIMS, as well as a systematic approach to maintaining accountability, ethics, transparency, and data quality.

Perhaps most importantly of all, ISO 42001 is more than just the only place to find such in-depth compliance guidance for AI– it is currently the only AI management system standard that is certifiable by accredited auditors.

AI is a powerful but fraught technology that few understand, one that can cause serious problems for an organization if mismanaged. Organizations can tell their stakeholders that they are using AI in an ethical, lawful, and responsible fashion, but their assurance may not be enough to reassure them, let alone potential clients or customers.

Organizations need to do more than reassure, they need to demonstrate their commitment to developing and deploying AI technologies in a compliant, secure, and responsible way. An ISO 42001 certification shows stakeholders that their organization did the work necessary to earn the ISO’s approval. Simply put: an ISO 42001 certification is the best way to promote trust among stakeholders.

Schedule a consultation with Aprio’s Information Assurance Services specialists today to take your first step toward ISO 42001 certification.

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