Risk Associates took the initiative to promote awareness of ISO/IEC 42001, the world’s first Artificial Intelligence Management Systems (AIMS) standard. In this effort, Waqas Haseeb, Director of Certification Services Division and AI management systems expert, joined our latest knowledge-sharing platform to shed light on its importance.
In the first episode of Risk Associates’ exclusive podcast series, “Why ISO/IEC 42001 Matters for AI Organisations”, Session Moderator Syed Zahran sat down with Waqas Haseeb to explore why ISO/IEC 42001 is such a defining standard for organisations adopting or using Artificial Intelligence (AI). The conversation highlighted not only the technical depth of the standard but also its strategic importance in building trust, ensuring accountability, and aligning with emerging global regulations.
Artificial Intelligence (AI) is no longer a futuristic concept; it is a driver of change across industries, shaping everything from healthcare to finance. But with its rapid adoption comes equally pressing questions: How can AI be managed responsibly? How do organisations balance innovation with trust and accountability?
This is where ISO/IEC 42001, the first international standard dedicated to Artificial Intelligence Management Systems (AIMS), makes its mark.
ISO/IEC 42001 sets out a structured approach for organisations producing, developing, or using AI. Unlike ad-hoc practices, the standard provides a framework to govern AI systems across their lifecycle from design and development to deployment and monitoring.
As Waqas Haseeb explained during the discussion:
“If AI plays a role in your operations, ISO 42001 is relevant; it’s not just for tech companies.”
This universality makes the standard vital, not only for technology providers, but also for sectors such as banking, manufacturing, logistics, and healthcare, where AI integration is becoming increasingly common.
In an AI-driven world, trust has become a competitive differentiator. Customers, regulators, and partners expect systems that are secure, transparent, and fair.
According to Waqas:
“Trust is a strategic asset in AI. ISO 42001 helps organisations demonstrate that their AI is fair, secure, and understandable.”
The standard also supports alignment with global regulations such as the EU AI Act and the U.S. NIST AI Risk Framework, giving organisations a proactive advantage as regulatory landscapes evolve.
Beyond compliance, ISO/IEC 42001 delivers tangible operational benefits. By introducing consistency, documentation, and accountability, it reduces errors and enables teams to collaborate more effectively.
“Certification tells the market: We’re serious about doing AI right.” – Waqas Haseeb
It also embeds risk awareness into every stage of the AI lifecycle, allowing organisations to anticipate and mitigate challenges such as bias, unintended outcomes, or data misuse before they escalate.
One of the standout strengths of ISO/IEC 42001 is its ability to align diverse functions within an organisation.
“One of the biggest value-adds of ISO 42001 is breaking down silos. Tech, legal, and leadership all operate under the same principles.” – Waqas Haseeb
This unified framework creates clarity across departments, helping data scientists, compliance teams, and leadership move in the same direction with confidence.
While some organisations may wait for regulatory pressure, forward-thinking businesses are already seeing ISO/IEC 42001 as a strategic opportunity.
“Act now before the pressure builds. Early adoption builds maturity and reduces firefighting when regulations arrive.” – Waqas Haseeb
By adopting early, organisations position themselves as leaders in responsible and ethical AI practices, strengthening their reputation and building resilience against future challenges.
ISO/IEC 42001 is more than a standard; it is a foundation for responsible AI governance, risk management, and long-term digital trust. For organisations that integrate AI into their operations, the message is clear: adopting ISO/IEC 42001 is not just about compliance, but about building credibility and sustainable advantage in an AI-driven future.
“ISO 42001 brings order, transparency, and accountability to AI, the qualities every AI-driven business needs today.” – Waqas Haseeb
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