Risk Management System
Continuous process to identify, analyze, and mitigate AI system risks throughout its lifecycle.
Definition
A Risk Management System is a continuous iterative process required for high-risk AI systems that runs throughout the entire lifecycle of the AI system. It involves identifying and analyzing known and foreseeable risks, estimating and evaluating risks, and adopting appropriate risk management measures.
Under the EU AI Act, risk management must consider the intended purpose, reasonably foreseeable misuse, and the state of the art in AI development. Residual risks must be communicated to users, and the system must be regularly updated based on post-market monitoring.
This approach ensures that AI risks are not just assessed once but continuously monitored and addressed as the system is deployed and evolves.
Sources
- •EU AI Act Article 9
- •ISO 31000
Related Terms
High-Risk AI System
AI systems that pose significant risks to health, safety, or fundamental rights....
Post-Market Monitoring
Ongoing surveillance of AI system performance after deployment in the market....
Technical Documentation
Detailed records demonstrating AI system compliance with regulatory requirements....