A Modern AI Risk Management Framework

This article explains the NIST AI Risk Management Framework.

• •Four core functions: Govern, Map, Measure, and Manage structure the approach
• •Establish cross-functional governance committees with legal, security, data science, and business teams
• •Use AI Bill of Materials (AI-BOM) to inventory AI systems and categorize by risk
• •Measure AI risks using metrics on bias, explainability, data quality, and security
• •Implement controls including authentication, rate limiting, adversarial testing, and approval workflows

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