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Why ISO/IEC 42001 Matters for AI Organisations?
Why ISO/IEC 42001 Matters for AI Organisations?
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, an AI management systems expert, joined our latest knowledge-sharing platform to shed light on its importance.
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.
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.
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 the context of AI governance, maintaining objectivity to avoid bias, ensuring fairness, and controlling the algorithms used in AI are fundamental to building trustworthy systems. These principles form the foundation of ethical and transparent AI deployment, enabling organisations to align with global standards and societal expectations.
According to Waqas Haseeb,
“AI must operate with objectivity to avoid bias, ensure fairness, and maintain control over the algorithms driving its decisions.
ISO/IEC 42001 introduces critical concepts such as the intended use of AI systems and the identification of risk appetite. These elements help organisations clearly define how their AI is meant to function and the level of risk they are prepared to manage, ensuring accountability and controlled implementation within acceptable boundaries.
According to Waqas Haseeb,
“ISO 42001 introduces the concept of intended use and identification of risk appetite, enabling organisations to establish clarity, control, and responsible governance in their AI operations.”
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.
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.”
As artificial intelligence continues to evolve, developing effective regulatory frameworks remains a complex challenge. The rapid pace of innovation often outpaces existing standards, making governance essential to ensure accountability, transparency, and ethical use of AI systems.
According to Waqas Haseeb,
“When it comes to regulating AI, this is an emerging technology.”
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 42001 is not just about compliance, but about building credibility and sustainable advantage in an AI-driven future.
