ISO 38507:2022 - Governance of IT: Governance Implications of the Use of Artificial Intelligence by Organizations

In today’s world, organizations increasingly leverage AI to automate tasks, improve
decision-making, and gain valuable insights. However, implementing AI effectively requires
strong governance practices to ensure responsible development, deployment, and use.
ISO 38507:2022 provides a framework for organizations to establish effective AI
governance strategies.

This standard outlines best practices for governing the use of AI within organizations. It
emphasizes the importance of integrating AI governance into existing IT governance
frameworks, ensuring alignment with organizational goals and risk management
strategies.

• Mitigates AI Risks: By establishing a structured governance framework, organizations can
  proactively identify and address potential risks associated with AI, such as bias, security
  vulnerabilities, and unintended consequences.
• Ensures Ethical Development: ISO 38507 promotes ethical considerations throughout the
  AI lifecycle, fostering responsible development and deployment of AI systems that comply
  with relevant regulations and ethical principles.
•  Establishes Clear AI Governance Structure: The standard encourages organizations to
  define roles and responsibilities for AI governance, fostering accountability and
  transparency within the AI development process.

• IT Professionals: Responsible for implementing and managing AI systems, adhering to
  governance guidelines.
• Managers and Executives: Overseeing the development and deployment of AI, ensuring
  alignment with organizational strategies and compliance requirements.
• AI Development Teams: Working within the framework to build trustworthy and responsible
  AI systems.

By implementing effective AI governance practices outlined in ISO 38507, organizations can:

• Build trust and confidence in their AI initiatives with stakeholders and the public.
• Foster innovation by promoting a safe and responsible environment for AI development and experimentation.
• Gain a competitive edge by demonstrating responsible AI practices and mitigating potential
  risks associated with AI use.