AI Governance Glossary
Plain-language explainers for the frameworks and concepts behind AI governance.
What is the EU AI Act?
The EU AI Act is the European Union's regulation governing artificial intelligence. It classifies AI systems by risk — unacceptable, high, limited and minimal — and imposes binding obligations, with the strictest requirements on high-risk systems. It applies to providers and deployers placing AI on the EU market, regardless of where they are based.
ISO/IEC 42001 explained
ISO/IEC 42001 is the international standard for an Artificial Intelligence Management System (AIMS). Published in 2023, it gives organizations a certifiable framework to govern AI responsibly — covering risk assessment, controls, roles, and continual improvement — much like ISO 27001 does for information security.
What is the NIST AI Risk Management Framework?
The NIST AI Risk Management Framework (AI RMF) is a voluntary US framework for managing risks in AI systems. Released in 2023, it is organized around four functions — Govern, Map, Measure and Manage — that help organizations build trustworthy AI throughout its lifecycle.
EU AI Act vs ISO/IEC 42001 vs NIST AI RMF: what's the difference?
The EU AI Act is binding law that regulates AI by risk tier. ISO/IEC 42001 is a certifiable management-system standard for governing AI. The NIST AI RMF is a voluntary US framework for managing AI risk. The Act sets what you must do; ISO 42001 and NIST AI RMF help you build the processes to do it.
AI risk classification tiers under the EU AI Act
Under the EU AI Act, AI systems fall into four risk tiers: unacceptable risk (banned), high risk (heavily regulated), limited risk (transparency obligations) and minimal risk (no specific obligations). The tier determines which legal requirements apply to a given system.
What is an AI governance gap analysis?
An AI governance gap analysis is a structured assessment that compares your current AI practices against the requirements of frameworks like the EU AI Act, ISO/IEC 42001 and the NIST AI RMF. It identifies where you fall short, quantifies the gaps, and produces a prioritized roadmap to close them.