AI Dictionary › Regulation
The NIST AI Risk Management Framework is a voluntary framework developed by the US National Institute of Standards and Technology to help organisations manage risks related to artificial intelligence systems. It is not a law but a structured guide offering a common language and method to identify, measure and reduce risks across an AI system's entire lifecycle. It is organised into four core functions: govern, map, measure and manage, which prompt organisations to assign responsibilities, understand the context of use, assess performance and potential harms, and act to mitigate them.
The framework promotes trustworthy systems that are accurate, safe, transparent, fair and privacy-respecting. Although American and non-binding, it is widely used as a practical reference internationally to structure AI governance programmes.
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