United States of America: Released Artificial Intelligence Risk Management Framework (AI RMF 1.0) Guidance

On 26 January 2023, The National Institute of Standards and Technology (NIST), which is part of the US Department of Commerce, adopted the Artificial Intelligence Risk Management Framework (AI RMF 1.0) to help organisations that are working with AI systems to manage the various risks associated with the technology. The framework is available for voluntary use and provides guidance for organisations that are creating, developing, implementing, or using AI systems. The Framework is intended to be also non-sector-specific and use-case agnostic. It includes two parts, the first one providing an overview of the risks related to AI systems and characteristics of trustworthy AI systems, and the second one describing four specific functions to help organisations address the risks of AI systems in practice. The Framework will be updated, expanded and improved based on evolving technology, international standards and community feedback. The AI RMF 1.0 is accompanied by a range of supplementary and explanatory material, such as the AI RMF Playbook.