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The widespread use of AI is in full force, reshaping industries, economies, societies, and business practices. From healthcare diagnostics and financial forecasting to enhanced education and public services, AI systems are being deployed at unprecedented speed and scale. With its rapid adoption comes both immense benefits and equal amounts of concern over transparency, accountability, fairness, and privacy.

As artificial intelligence (AI) technologies become more deeply embedded in business operations, the need for responsible, transparent, and auditable AI management practices has never been more critical. ISO 42001 provides a structured framework to help organizations govern their AI systems responsibly and ethically.

This article was featured in the World Economic Forum, written by Schellman’s Jerrad Bartczak, Senior Associate AI, and Stu Block, Sustainability Practice Director.

The use of artificial intelligence is rapidly expanding across businesses and industries, driving innovation, improving efficiency, and unlocking new opportunities. However, as AI systems become more integrated into critical decision-making processes and daily business operations, concerns about their ethical and responsible use also continue to rise. Questions surrounding fairness, transparency, and accountability have become increasingly prominent, highlighting the need for a structured approach to evaluating AI’s broader ethical and societal implications.

As artificial intelligence continues to become increasingly integrated into regular business operations, the need for its responsible development and use also continues to grow. From bias and fairness to data privacy and security concerns, the risks associated with AI are driving governments around the world to introduce new and evolving legislation aimed at ensuring its ethical and safe deployment.

As AI continues to transform industries worldwide and organizations continue to innovate their use of AI in regular practice, they are also faced with growing pressure to demonstrate that their AI systems are secure, trustworthy, and responsible. With regulatory scrutiny and public concern over widespread use of AI on the rise, aligning with established frameworks and standards has become essential for maintaining credibility and mitigating risk.

As the adoption of artificial intelligence (AI) continues to grow and evolve across industries, so do concerns about security, trust, and responsible use and management. In response, as a joint effort between the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC), the ISO/IEC 42001:2023 framework was officially published in December 2023.

*Disclaimer: This article was written using a translated copy of the South Korea AI Basic Act* After the European Union paved the way for creating a legal framework for artificial intelligence (AI) in early 2024, many wondered what government or jurisdiction would follow. The year continued with discussions on how to best implement AI governance and debates on where the line stands between sufficient governance and proper opportunity for creativity in the technology industry. Fast forward a couple of months, as the world prepared to welcome in the new year those questions were finally answered. In late December 2024, South Korea stepped forward proposing their own legislation regarding AI. By January 21, 2025, they became the second entity to propose AI regulation with the passing of the AI Basic Act. To address the obvious next question of when these regulations will be enforced, the enforcement date stands as January 22, 2026, giving organizations roughly a year to prepare. It’s also worth noting that this act contains six sections with 43 articles, and we've outlined the key points below.