New standard Launched for Artificial Intelligence

The standard ISO/IEC 42005 was recently launched to provide guidance for organizations conducting AI system impact assessments. It includes considerations on how and when to perform such assessments, at what stages of the AI system life cycle, and provides guidance on documenting the assessments.

Additionally, the standard outlines how the AI system impact assessment process can be integrated into an organization’s AI risk management and AI management system.

These assessments focus on understanding how AI systems — and their foreseeable applications — may affect individuals, groups, or society at large. The standard supports transparency, accountability and trust in AI by helping organisations identify, evaluate and document potential impacts throughout the AI system lifecycle.

Benefits of implementing the standard
•Strengthens stakeholder trust through transparent impact documentation
•Supports responsible innovation by addressing social and ethical risks
•Enhances alignment with governance, risk and compliance frameworks
•Improves internal decision-making and accountability across the AI lifecycle
•Encourages consistency and clarity in AI-related impact reporting

Why is ISO/IEC 42005 important?
AI technologies are rapidly reshaping industries, economies and daily life — offering immense benefits, but also raising ethical, social and environmental concerns. ISO/IEC 42005 plays a crucial role in ensuring these impacts are responsibly addressed. By guiding organisations through structured impact assessments, it enables them to align AI development with values such as fairness, safety, and human-centred design. It also supports broader governance and risk management practices, reinforcing trust and societal acceptance of AI systems.

The growing application of systems, products, services and components of such that incorporate some form of artificial intelligence (AI) has led to a growing concern about how AI systems can potentially impact all levels of society. AI brings with it the promise of great benefits: automation of difficult or dangerous jobs, faster and more accurate analysis of large sets of data, advances in healthcare etc. However, there are concerns about reasonably foreseeable negative effects of AI systems, including potentially harmful, unfair or discriminatory outcomes, environmental harm and unwanted reductions in workforce.

The development and use of seemingly benign AI systems can have the potential to significantly impact (both positively and negatively) individuals, groups of individuals and the society as a whole. To foster transparency and trustworthiness of systems using AI technologies, an organization developing and using these technologies can take actions to assure affected interested parties that these impacts have been appropriately considered. AI system impact assessments play an important role in the broader ecosystem of governance, risk and conformity assessment activities, which together can create a system of trust and accountability.

ISO/IEC 38507, ISO/IEC 23894 and ISO/IEC 42001 all form important pieces of this ecosystem, for governance, risk and conformity assessment (via a management system) respectively. Each of these highlights the need for consideration of impacts to individuals and societies. A governing body can understand these impacts to ensure that the development and use of AI systems align to company values and goals. An organization performing risk management activities can understand reasonably foreseeable impacts to individuals and societies to appropriately incorporate into their overall organizational risk assessment. An organization developing or using AI systems can incorporate understanding and documentation about these impacts into its management system to ensure that the AI systems in question meet expectations of relevant interested parties, as well as internal and external requirements.

The act of performing AI system impact assessments and utilizing their documented outcomes are integral to activities at all organizational levels to produce AI systems that are trustworthy and transparent. To this end, this document provides guidance for an organization on how to both implement a process for completing such assessments and promote a common understanding of the components necessary to produce an effective assessment.

To Know More: https://aaa-accreditation.org/new-standard-launched-for-artificial-intelligence/
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