During its IEEE Standards Association Standards Board (SASB) virtual meeting on 3 June 2020, the IEEE SASB approved two new Artificial Intelligence Systems (AIS)-related initiatives: The IEEE Applied Artificial Intelligence Systems (AIS) Risk and Impact Framework Initiative and The IEEE Trusted Data and AIS Playbook for Finance Initiative.

In accordance with the evolving regulation around AIS, The IEEE Applied Artificial Intelligence Systems (AIS) Risk and Impact Framework Initiative proposes an applied assessment for Artificial Intelligence (AI) to determine the riskiness introduced by AI and identify approaches to mitigate this risk. The initiative plans to identify existing risk approaches (in the fields of finance and cybersecurity), and gaps, and to create an AI risk assessment for risk mitigation. Its desired outcomes include the creation of a platform for AIS risk assessment reports and white papers as well as the development of IEEE Recommended Practices and general coordination activities with leading global policy makers and organizations.

The IEEE Trusted Data & AIS Playbook for Finance Initiative will curate, summarize and contextualize Trusted Data and AI best practices for the financial sector around design principles, standards and certifications. IEEE’s Ethically Aligned Design, IEEE P7000 Standards and ECPAIS certifications will be incorporated to align with anticipated European / Singapore / Canadian monetary regulatory authorities and policy frameworks. Goals for this Initiative include the creation of a set of implementation guidelines framed as a “Playbook” along with virtual training, in-person workshops and potential IEEE standards development work to drive adoption and continuous enhancement of the Playbook.

Please visit IEEE Industry Connections to learn more about these and other initiatives.