ISO 23894:2023 - Information technology - Artificial Intelligence - Guidance on Risk Management

The potential benefits of AI are vast, but implementing AI also introduces inherent risks. ISO 23894:2023 provides guidance on how organizations can effectively manage these risks and ensure the safe and responsible use of AI systems.

This standard offers comprehensive guidance on managing risks associated with AI systems. It builds upon established risk management principles (ISO 31000) and applies
them specifically to the AI context.

• Proactive Identification and Mitigation of AI Risks: By following the standard’s guidance, organizations can proactively identify potential risks associated with AI, such as bias, privacy breaches, and security vulnerabilities. 
• Increased Safety and Security of AI Deployments: ISO 23894 encourages organizations to implement risk mitigation strategies throughout the AI lifecycle, minimizing the potential for negative impacts. 
• Builds Trust in AI Systems by Addressing Potential Risks: Proactive risk management practices outlined in the standard foster trust and confidence in AI systems, reassuring stakeholders and the public
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• AI Risk Management Professionals: Responsible for developing and implementing risk management strategies for AI projects. 
• Auditors and Compliance Officers: Ensuring adherence to relevant regulations and evaluating the effectiveness of risk management practices related to AI. 
• Developers and Engineers: Building AI systems with risk mitigation strategies in mind. 
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By implementing a robust AI risk management program based on ISO 23894, organizations can: 

• Minimize disruptions and setbacks associated with unforeseen AI risks. 
• Enhance the safety and reliability of AI systems, promoting public trust and confidence. 
• Foster a culture of risk awareness within the organization, encouraging responsible AI development and use.