As Artificial Intelligence rapidly advances, outpacing lawmakers' ability to regulate, a critical question emerges: How can we navigate the expanding realm of AI while ensuring accountability for potential societal risks?

Enter ISO/IEC 42001, the new Management System standard. 

After three years of development, experts from over 50 countries helped to publish ISO/IEC 42001, a global standard for AI Management Systems. The standard ensures the safety, security, and ethical application of AI.

ISO/IEC 42001 comes with many benefits for organizations and works to complement regulations such as the EU AI Act.

What Is ISO/IEC 42001?

It introduces a groundbreaking framework, requiring organizations involved in developing, providing, or using AI-based products or services to establish an AI Management System. 

The standard aims to promote responsible development, deployment, and maintenance of AI systems, presenting a structured approach to effectively handle the inherent risks and opportunities linked to AI. This ensures an ongoing balance between innovation and governance.

Like other ISO standards, ISO/IEC 42001 will permit accredited certification bodies to audit and certify an organization’s AI management system adheres to the standard.

It’s Voluntary, So Why Should I Care?

Although ISO/IEC 42001 is voluntary, implementing it will influence and be evident in ongoing regulatory initiatives regarding AI. Additionally, integrating the standard comes with many other benefits, including: 

• Cost Savings and Improved Accuracy: Enables streamlined AI management, leading to cost savings due to reduced risks and improved accuracy. 

• Transparency and Accountability: Promotes monitoring, transparency, and robustness in AI systems, critical for responsible and ethical use. 

• Guidelines for Risk Management: Outlines clear guidelines for identifying and mitigating risks inherently associated with AI systems.

• Demonstration of Responsible AI: Organizations that comply with ISO/IEC 42001 display responsible AI practices, which helps build trust with stakeholders.

How Can I Implement Standards with Citrusˣ?

When it comes to implementing standards like ISO/IEC 42001, Citrusˣ understands the challenges and opportunities organizations face. We aim to simplify the process by offering solutions to help organizations demonstrate responsible AI use. 

Our solution allows you to seamlessly explain outcomes, identify vulnerabilities, manage risks, and monitor your model’s behavior throughout development and deployment. With the Citrusˣ solution, you can ensure you are complying with ISO/IEC 42001 standards and remain audit-ready. 

Book a demo with our team to learn more about how Citrusˣ can help you establish an AI Management System to keep your organization at the forefront of responsible and trustworthy AI.