Standards Australia, the country's primary standards body, has recently declared its adoption of the international standard AS ISO/IEC 42001:2023, a pioneering initiative in the field of artificial intelligence (AI) management. It underscores Australia's dedication to leading the world in AI standards, reflecting the country's proactive stance on addressing both the ethical and operational challenges posed by AI.

AS ISO/IEC 42001:2023 is a framework that effectively navigates the unique difficulties that AI can present. It incorporates considerations such as ethics, transparency and the capacity for AI to learn on an ongoing basis. As the first international standard of its kind globally, the new code of practice is designed to enable businesses to reap the benefits of AI, while ensuring they operate responsibly.

This recently adopted standard provides businesses with a comprehensive roadmap for the responsible development and management of AI systems. Its adherence is predicted to elevate the scope and performance of AI applications, trim development expenses, and warrant overall compliance with regulatory bodies. AS ISO/IEC 42001:2023 handles both internal governance and risk management fostering a balance between innovation and firm governance.

More than 50 countries, hand in hand with their experts, played a part in the development of the AI management system standard. This means the framework is versatile enough to be wielded by organisations of any size and industry, provided they intend to harness AI in the evolution or delivery of their services or products. The anticipation around this new standard is palpable, as it is set to be a seminal reference point in AI governance both at home and beyond Australia's borders.

Aurelie Jacquet, a member of the AI Expert Group, will provide insights into the implications of the new standard. The group advises on responsible and safe AI use for the Department of Industry, Science and Resources. Jacquet, who is also at the helm of Australia's National AI standards committee and the National AI Centre's AI at Scale Think tank, can elucidate what the new standard means for Australian businesses and industry, the future of AI in Australia and globally, and how companies can leverage AI for a more economical and streamlined business process.

In alignment with the AS ISO/IEC 42001:2023 adoption, Standards Australia will also be providing a training session aimed at businesses looking to navigate and transition towards the implementation of the standard. The training course will cater for both individuals and organisations wishing to increase their understanding of the standard and integrate it within their operations.

Kareen Riley-Takos, Chief Operations Officer at Standards Australia, stated that with AI growth rapidly infiltrating both our personal and professional lives, it is imperative that 'guardrails' and standards are deployed to support the uptake of the technology. Trust in AI, she explained, is pivotal for its successful implementation and the positive impact it can have on our lives. Riley-Takos considers the publication of the first international AI management system standard to be a significant first stride in aiding organisations to effectively and responsibly execute AI.