From chatbots to predictive analytics, the AI wave is crashing through every corner of the tech world. But here's the plot twist: all that great power comes with great responsibility (shout out to Stan Lee).
What many organizations are beginning to realize is that not only is AI here to stay, but that there is a LOT of work to be done and a lot of rocky waters ahead especially regarding sensitive and private customer data.
“We want to move as quickly as possible using the technology, while making sure to keep customers’ insurance data safe”
- Svetlana Bender, Florida Blue insurance.
Enter ISO/IEC 42001: the new gold standard for information security management systems in the AI era. Published in December 2023, this is an internationally recognized certification that ensures that your AI operations are safe, secure, compliant, and with every star aligned to get you to the AI-success port. Whether you're a startup striving to win your first clients or a seasoned tech giant aiming to maintain customer trust, ISO/IEC 42001 certification is your compass in these uncharted seas.
The ISO/IEC 42001 along with NIST AI RMF (which encompasses US based entities) were created to improve the ability to bring trustworthiness and ethics considerations into the design, development, use, and evaluation of any AI products, services, and systems that you can come up with.
Stay calm, we know the drill.
This standard, just as ISO 27001, is based on the High-Level Structure (HLS) of ISO/IEC applicable to nearly all Management System standards. This comes with some great advantages – for instance, Management System standards have a lot in common, and they ask for similar processes like conducting management reviews, internal audits, and managing risks. If you're already following ISO 27001, ISO/IEC 42001 will seem like old friends to you.
So, when it comes to external audits of the same Management System standard, you can actually bundle them together, which can help cut down on your initial certification expenses, yearly check-ups, and the recurring recertification costs. Plus, you can easily expand your Management System by including additional Management System Standards.
To quote our CEO Taylor Hersom:
“AI is absolutely here to stay, so the security professionals that are trying to block it altogether are wasting their time. Instead, we should be studying (and sharing) how to use it safely and transparently!”
In conclusion, ISO/IEC 42001 is designed to cover the various aspects of artificial intelligence and the different applications your organization may be running, provide an integrated approach to managing AI projects, from risk assessment to effective treatment of these risks, and, of course, to create more trust for your product from your customer and regulatory agencies from all over the world.
Achieving compliance, as we’ve said before, is not only a badge to wear proudly, it allows you to innovate by providing a structured and clear framework, and avoid specific risks you didn’t know you didn’t know, that way you move faster and with confidence.
To learn more about ISO/IEC 42001 visit https://www.iso.org/standard/81230.html
In conclusion, ISO/IEC 42001 isn't just another piece of jargon to toss around at your next board meeting. It's the key to:
🔒 Safeguarding your data and AI systems.
🔑 Ensuring your AI-driven products respect privacy laws.
💼 Gaining a competitive edge by demonstrating your commitment to security.
📈 Setting the stage for future growth and innovation.
Curious to learn more about ISO/IEC 42001 and how it can supercharge your AI ventures? Look no further! Our expert consultants at Eden Data have got your back.