What Is AI Management System?
AI Management System is a systematic framework of policies, processes, and controls that an organisation uses to manage the development, deployment, and use of artificial intelligence throughout its lifecycle.
AI Management System, a systematic framework of policies, processes, and controls that an organisation uses to manage the development, deployment, and use of artificial intelligence throughout its lifecycle.
ISO/IEC 42001 defines the requirements for an AI Management System (AIMS), analogous to how ISO 27001 defines an information security management system. An AIMS provides the structure, documented policies, roles, risk assessments, monitoring, and continual improvement, that transforms ad hoc AI governance into a repeatable organisational capability. APRA and FCA have both signalled that demonstrating a mature AIMS is the expected standard for regulated firms.
Source: ISO/IEC 42001:2023, Clause 1
Plain-language explanation
ISO/IEC 42001 defines the requirements for an AI Management System (AIMS), analogous to how ISO 27001 defines an information security management system. An AIMS provides the structure, documented policies, roles, risk assessments, monitoring, and continual improvement, that transforms ad hoc AI governance into a repeatable organisational capability. APRA and FCA have both signalled that demonstrating a mature AIMS is the expected standard for regulated firms.
See where you stand on AI governance
Take the free 7-question maturity assessment and get a personalised action plan.
Free assessment, 3 minutes →