The NIST AI Risk Management Framework (AI RMF) is a guide created by the National Institute of Standards and Technology (NIST) to help organizations manage AI-related risks. Here’s a simplified overview:
- Purpose: Designed to help organizations identify, evaluate, and mitigate risks associated with using AI technology.
- Key Focus: Ensures AI systems are safe, trustworthy, and responsible by addressing risks such as bias, security vulnerabilities, and ethical considerations.
- Flexible Structure: Offers a customizable approach, allowing different industries and sectors to apply the framework to their specific needs.
- Core Elements:
- Governance: Guidelines for establishing clear oversight and accountability for AI systems.
- Risk Assessment: Steps to assess potential risks and impacts of AI applications.
- Mitigation: Techniques and practices to reduce or eliminate identified risks.
- Continuous Improvement: Encourages regular updates to AI practices to align with new risks and technological advancements.
This framework is especially valuable for organizations aiming to deploy AI responsibly while ensuring compliance with best practices and regulatory standards.
Read the full guide: NIST AI Risk Management Framework - AI RMF
