How ISO/IEC 42006 Helps Companies Manage AI Model Risks?
Introduction As organisations increasingly rely on AI models for decision-making, analytics and automation, the need to manage risks associated with AI becomes critical. ISO/IEC 42006 offers a framework to manage those risks systematically — helping companies ensure their AI deployments are responsible, transparent and dependable. A proper AI model risk management system reduces potential harm, supports compliance and builds stakeholder trust. What ISO/IEC 42006 Covers? Provides guidance on identifying, assessing and managing risks that arise when developing, deploying or maintaining AI models. Covers documentation, governance, data quality, validation, monitoring and continuous evaluation across the AI model lifecycle. Supports policies and controls to ensure data privacy, fairness, security and accountability when using AI systems. Encourages regular audits and reviews of AI models to detect drift, bias, errors or unintended outcomes — ensuring that models remain...