Managing GenAI Risk: Takeaways From NIST's Guidance On Responsible GenAI Implementation

Key takeaways

• NIST's AI materials are a go-to resource for managing AI-related risks
• NIST published GenAI Profile (NIST AI 600-1), which focuses on managing GenAI risks specifically
• Aligning with NIST guidance will facilitate compliance with future AI laws and regulations

We all know organizations' use of technology with generative AI (GenAI) components has surged over the past year, jumping to 72% according to one study. However, many organizations are still in the early stages of developing a robust AI governance program, suggesting they may not yet be equipped to fully manage the risks associated with GenAI. Until U.S. AI laws and regulations mature, organizations can rely on guidance from the National Institute of Standards and Technology (NIST), part of the Department of Commerce, which previously published an AI Risk Management Framework (AI RMF).