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As the need for innovative artificial intelligence grows, regulatory bodies are working quickly to create frameworks that balance acceleration with safety, accountability, and trust. Notably, the European Union’s AI Act is poised to reshape how organizations approach AI governance, especially when it comes to general-purpose AI (GPAI) models.

The global push to both regulate and strategically accelerate the development of artificial intelligence (AI) has gained momentum over the past year, resulting in a diverse landscape of evolving frameworks, policies, and executive directives. In the United States, this dual focus on oversight and innovation has translated into a series of executive orders and formal federal AI governance initiatives.

Since the release of ISO 42001 in late December 2023, it’s been a year of discovery and education regarding this new flagship artificial intelligence (AI) standard in terms of determining its applicability, use case(s), and benefits to organizations. For those who have since determined ISO 42001 is the right framework for them, the next step has been to prepare for certification, and that involves more than a few steps.

For anyone immersed in digital technology, you know that artificial intelligence (AI) is all the rage right now, and for good reason, the use cases for this technology are growing all the time. But as AI continues to enmesh with daily life as well as business, security concerns have grown in parallel, as have questions regarding the implications on organizations and their ongoing compliance efforts. At the top of mind for many has been how AI factors into SOC 2 examinations.

Since its publication in December 2023, business leaders are still wrapping their heads around the ISO 42001 standard. The framework is designed to help any organization who provides, develops, or uses artificial intelligence (AI) products and services to do so in a trustworthy and responsible manner, guided by the requirements and safeguards that the standard defines—including clearly defining your AI role.

While the rapid pace at which artificial intelligence (AI) technology has been both developing and impacting several areas of our daily lives continues, so do the concerns about the tech’s safety, privacy, and bias. As there’s no stopping the ongoing integration of AI, organizations are now wondering what they can do to ease those concerns, and the answer is simple—start with protecting your data.

Trying to keep up with the rapidly emerging and evolving governance of AI? Struggling to figure out how to address customer misgivings about your AI systems?

NOTE: This blog was originally published on 3/24/2024 and has been updated as of 8/1/2024 now that the EU AI Act has been published in the Official Journal of the European Union and “enter[s] into force” 20 days thereafter, or on August 1, 2024.