ISO 42001 - AI Management Systems
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ISO Pros is one of the top companies in the entire country that helps you address all types of implementations and processes. This includes new standards, such as ISO 42001 and how it makes changes to your AI management system.
ISO 42001 has become a challenge for many businesses in all industries due to how they are limiting operations and how the tool is used. However, these regulations in place do make sense when considering the way AI has been used so far.
For example, companies in the finance industry have been collecting data, sorting it out, and utilizing an automated system that puts it together to make decisions regarding credit scores or approving certain loans. This has a major issue in terms of explainability and accountability.
While having it done manual by an individual may not be the best option for some people and also has a questionable issue in the middle, such as “human error”, it is more reliable when confirming information and making the final call.
Meanwhile, relying on AI entirely leads to issues around who is making this decision and, if it is wrong, who will be held accountable for it?
Appeal to compensation and solutions has been quite questioned, and it needs to be addressed accordingly. Therefore, ISO 42001 is not just another simple addition but rather a requirement for an ethical and responsible AI management system.
Our role here is bringing our support to make implementation and compliance go as smoothly as possible. Then, work towards best practices and long-term compliance in your business.
Are Finance Companies the Only Ones Needing ISO 42001?
Not at all. Companies from multiple industries need to be ISO 42001 compliant if they already have an AI system or want to establish one. Otherwise, regulations and laws won’t be fully covered, leading to issues around staying in business or having to stop operations until full compliance is handled.
We encourage you to consider if your company requires it. Otherwise, doing it later can cost multiple corrective actions that eat up your time and resources.
Our professionals at ISO Pros can offer full guidance and bring support in making decisions and implementing the standard. If you are unsure, we will take our time determining whether you should make the investment or not.
For starters, healthcare providers and retail companies are some of the people who should be worrying about implementation. Manufacturers and even government entities may find it necessary in case they have been relying on AI for multiple tasks.
Feel free to contact us and have an initial evaluation of your business and whether you have to worry about implementation or skip it. We will be there to assess the circumstances and work with you in case you need o do it from scratch or work from a very specific point in compliance as well.
Free estimates and consultations are provided to those requesting guidance and still trying to make a decision.
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