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The US Department of Commerce’s National Institute of Standards and Technology (NIST) has released a new guidance document, Artificial Intelligence Risk Management Framework (AI RMF 1.0). This aims to help organizations designing, developing, deploying, or using AI systems to help manage the associated risks.

The Artificial Intelligence Risk Management Framework was produced in close collaboration with the private and public sectors.

NIST says that the framework equips organizations to think about AI and risk differently. It ‘promotes a change in institutional culture, encouraging organizations to approach AI with a new perspective - including how to think about, communicate, measure and monitor AI risks and its potential positive and negative impacts’. 

The Artificial Intelligence Risk Management Framework provides a flexible, structured and measurable process that will enable organizations to address AI risks. Following this process for managing AI risks can maximize the benefits of AI technologies while reducing the likelihood of negative impacts to individuals, groups, communities, organizations, and society.

“The AI Risk Management Framework can help companies and other organizations in any sector and any size to jump-start or enhance their AI risk management approaches,” Under Secretary for Standards and Technology and NIST Director Laurie E. Locascio said. “It offers a new way to integrate responsible practices and actionable guidance to operationalize trustworthy and responsible AI. We expect the AI RMF to help drive development of best practices and standards.”

Obtain AI RMF 1.0 (PDF).

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