ISO 42001 (Artificial Intelligence Management Systems)
What industries and companies require ISO 42001 compliance? At ISO Pros, this is the most common question our professionals receive considering how new the standard is and the considerations needed to actually follow needs. In other words, it is common having it as a frequent question; the problem is that our answer will depend on the person asking and how the ISO must be handled.
As a general answer whatsoever, industry-specific applications of ISO 42001 are focused on any industry that either heavily relies on AI, or is trying to implement a small AI management system that will make operations depend on it.
A common situation is ISO 42001 in healthcare. While most people would believe this area isn’t “affected” by using this standard or having to implement it, the truth is that medical AI is recurrent nowadays, making it a must when it comes to AI risk management and everything this ISO stands for.
Medical AI management systems or how the database is handled requires strict data privacy, protection, security parameters, and ethical usage based on those controlling or handling the system. Otherwise, information from patients or personnel can be exposed without much to do against it.
On one hand, the database and security protocols and standard can be handled with ISO 42001. On the other hand, diagnoses, treatments, and health predictions shouldn’t be entirely added to AI medical management systems, but for those including it within possibilities, transparency and fairness are needed.
What Other Industries Require ISO 42001 Compliance?
Anything from finance to smart cities and public services. Tech companies, law firms, and even small businesses that handle manufacturing and distribution.
If you are unsure of whether you need to comply with ISO 42001, think about how you are or could use AI to make your operations easier. In case implementation is possible, needed, or wanted, then you need ISO 42001 certification.
In case of AI-powered finance areas and companies, the idea of using AI lies in fraud detection, credit scoring, and even algorithmic trading. It would be tough to have management systems on artificial intelligence unless a well-structured framework is established for it.
Then, public services and smart cities need compliance due to new implementations on traffic control, urban planning, and how to simple bring AI as a means of protecting the city. This, however, requires extra caution while considering how decision-making will be handled.
Therefore, proper organization, going step-by-step, and making sure the company or industry as a whole covers every regulation of ISO 42001 will be key, but also takes a lot of work considering how recent the standard is.
At ISO Pros, we will be more than happy to assist you in audits, implementation, compliance, and certification for your company.
ISO 42001 may be a new addition, but we are well-versed in all its implications and can assist you in “fixing” how your operations and AI management systems are handled. Feel free to discuss the idea with our team and request a free audit in case you have already implemented the standard, yet you require certification.