The AI Risk Management Framework Core

The prospect of day-to-day life with artificial intelligence is no longer a future endeavor. AI systems comprise countless applications across public and private organizations, and through open-sourced systems, such as ChatGPT, AI is now consumer-facing and usable.

The U.S. National Institute of Standards and Technology was directed by the National Artificial Intelligence Initiative Act of 2020 to create a voluntary resource for organizations designing, developing, deploying or using AI systems to help manage risk and to promote trustworthy and responsible development of AI systems.

As a result, NIST released the AI Risk Management Framework 1.0 along with supplementary documents to help organizations. To learn more about the newly released framework and how organizations should approach it, IAPP Editorial Director Jedidiah Bracy caught up with NIST Research Scientist and Principle Investigator for AI Bias Reva Schwartz.