FAIRLY AI Contributes to the Historic Launch of ISO/IEC 42001 AI Management Systems Standard

We are thrilled to share the publication of the ISO/IEC 42001 AI Management Systems (AIMS) standard! As a key milestone in the AI regulatory and assurance ecosystem, ISO/IEC 42001 is set to play a vital role in supporting regulatory objectives, such as those outlined in the EU AI Act.

FAIRLY AI, alongside our collaborators at ATB Financial and the Standards Council of Canada (SCC), was proud to contribute to the ISO/IEC 42001 pilot, which aligns with the broader AI governance landscape. This pilot, conducted in parallel with other industry efforts, tested the applicability of the ISO/IEC 42001 standard, strengthening the AI governance frameworks for responsible AI deployment.

What Does ISO/IEC 42001 Mean for AI Governance?

The publication of ISO/IEC 42001 marks a significant leap forward in establishing international standards for AI management systems. This standard aligns closely with other pivotal frameworks, including the NIST AI RMF, providing a robust foundation for organizations looking to manage risk, ensure transparency, and comply with emerging regulatory requirements.

At FAIRLY AI, we are committed to supporting organizations in navigating the complex landscape of AI governance, helping them adopt AI TRiSM (Trust, Risk, and Security Management) strategies to ensure the responsible deployment of AI technologies.

ISO/IEC 42001 and Its Role in Regulatory Compliance

As AI adoption continues to rise across industries, ISO/IEC 42001 serves as an essential tool for organizations aiming to meet regulatory demands and build trust with stakeholders. It provides practical guidelines for creating AI systems that align with both ethical principles and evolving regulations.

Celebrating Collaboration and Progress

FAIRLY AI is proud to have contributed to this landmark standard alongside the Responsible AI Institute and other industry leaders. We believe that ISO/IEC 42001 is a pivotal step towards ensuring that AI technologies are developed and deployed responsibly, with a focus on ethics, transparency, and accountability.

For more details on ISO/IEC 42001 and how it fits into the broader AI governance landscape, we encourage you to explore the following resources:

• Learn more about the ISO/IEC 42001 standard and its role in AI governance: Read here.
• Get the standard: ISO/IEC 42001:2023.

Let’s continue advancing the field of Responsible AI and building AI systems that users can trust.