NIST releases framework to boost risk-free adoption of AI

National Institute of Standards and Technology (NIST), a US-based federal agency responsible for building technology standards, has released artificial intelligence risk management framework (AI RMF 1.0), which can be used by companies to build and use AI systems in an ethical and risk-free manner. Developed in collaboration with private and public sector organisations, AI RMF framework is voluntary, which means it's usage is not binding on any company. However, NIST director Laurie E. Locascio believes that it can help large and small organisations across sectors manage their AI related risks more effectively. The framework is part of NIST's larger goal of "cultivating trust" in AI technologies within all communities, added Locascio. "It should accelerate AI innovation and growth while advancing -- rather than restricting or damaging -- civil rights, civil liberties and equity for all," Don Graves, Deputy Commerce Secretary, said in a statement.