The security standard that could prevent a costly mistake with AI in hospitality (www.techradar.com)

A new international standard, ISO/IEC 42001, has been launched to govern the development, deployment, and oversight of AI systems in organizations. This standard addresses a significant governance gap identified in a survey of finance decision-makers, where 83% of teams were using AI, yet only 53% had formal frameworks for its safe and responsible use. As AI adoption accelerates, especially since the rise of generative AI like ChatGPT, the standard aims to provide a structured approach to mitigate risks associated with unregulated AI implementation, ensuring accountability, transparency, and effective risk management within organizations. ISO/IEC 42001 emphasizes the importance of having clear ownership and traceability of AI outputs, which is crucial for sectors that handle sensitive data and require high accuracy, such as finance and HR. By implementing this framework, businesses can ask critical questions when evaluating AI-powered software, such as the vendor's risk management strategies and data handling policies. While it supports innovation in AI, ISO 42001 helps maintain control over potential risks, ensuring that organizations can safely harness AI’s productivity-enhancing capabilities without compromising their data integrity and reputation.