By: Chor-Ching Fan
As AI adoption accelerates across industries, organizations and individuals are navigating a growing landscape of AI compliance standards and frameworks. This blog is designed to help those seeking clarity on what they need to do to align with AI governance frameworks to manage AI risks and promote ethical, trustworthy AI systems. Three key initiatives shaping AI compliance are ISO 42001, the EU AI Act, and the NIST AI Risk Management Framework (AI RMF).
Understanding AI Compliance Standards and Frameworks
ISO 42001
ISO 42001 is the first international AI management system standard, released by the International Organization for Standardization (ISO). It provides organizations with a structured approach to establishing, implementing, maintaining, and improving AI governance. It is voluntary but aligns with best practices in AI risk management and compliance.
EU AI Act
The EU AI Act is a regulatory framework introduced by the European Union to categorize and govern AI applications based on risk levels. It mandates compliance requirements, particularly for high-risk AI systems, and includes significant penalties for non-compliance.
NIST AI Risk Management Framework (AI RMF)
Developed by the U.S. National Institute of Standards and Technology (NIST), the AI RMF provides voluntary guidelines for organizations to assess and mitigate AI risks. It emphasizes AI system trustworthiness through governance, measurement, and continuous improvement.
Key Comparisons
The following table highlights the major differences and similarities of ISO 42001, the EU AI Act, and NIST AI RMF.
Factor | ISO 42001 | EU AI Act | NIST AI RMF |
Type | Standard (Voluntary) | Regulation (Mandatory for certain AI systems) | Framework (Voluntary) |
Scope | AI management system implementation | AI system categorization and regulation | AI risk assessment and mitigation |
Geographic Application | Global | European Union | Primarily U.S., but globally applicable |
Risk-Based Approach | Yes | Yes | Yes |
Who Must Comply? | Organizations implementing AI governance systems | Companies developing or deploying AI in the EU | Organizations seeking AI risk management best practices |
Compliance Mechanism | Certification-based | Regulatory enforcement | Best practices guidance |
Key Focus Areas | AI governance, risk management, continuous improvement | Risk classification, legal compliance, transparency | Trustworthiness, risk mitigation, fairness |
Penalty for Non-Compliance | None | Fines up to €35M or 7% of global revenue | None |
Who Must Comply with AI Regulations?
- Companies developing AI solutions: Those operating in the EU or selling to EU customers must comply with the EU AI Act. Organizations globally can benefit from ISO 42001 and the NIST AI RMF to enhance AI governance.
- Regulated industries (e.g., healthcare, finance, defense): High-risk AI systems may require compliance under the EU AI Act and adherence to ISO 42001 for structured risk management.
- Government contractors: U.S. government contractors may need to align with NIST AI RMF guidelines.
- Enterprises seeking AI trustworthiness: ISO 42001 and NIST AI RMF can help organizations demonstrate responsible AI use, even if regulatory compliance is not mandated.
How Rizkly Can Help
While each framework serves a different purpose, they complement each other in guiding organizations toward responsible AI deployment. Rizkly helps businesses navigate these complex compliance requirements by offering tailored compliance automation solutions that streamline AI governance, risk assessment, and documentation. Organizations should assess their AI risk exposure, geographic footprint, and industry requirements to determine the most relevant compliance approach. For those seeking structured AI governance, ISO 42001 provides a strong foundation, while companies operating in the EU must adhere to the AI Act. NIST AI RMF remains a valuable tool for risk assessment and continuous improvement. With Rizkly’s Guided Compliance-as-a-Service (GCaaS), companies can efficiently implement AI compliance standards or align their AI governance best practices guidance.
As AI regulations evolve, staying ahead of compliance requirements will be essential for businesses leveraging AI to drive innovation while ensuring accountability and trust. Rizkly’s platform simplifies AI compliance by automating key processes, providing expert guidance, and ensuring continuous monitoring to help organizations remain compliant with evolving regulations.
