New IEEE Standard Outlines Risk-Based Approach for AI Regulation

IEEE 1012 standard provides a roadmap for regulating AI by focusing risk management on highest-risk systems. It determines risk levels based on consequence and likelihood.

Policymakers can customize the IEEE 1012 risk matrix to assign regulatory requirements according to different risk tiers.

Requirements can target high-risk systems without creating barriers for lower-risk systems.

IEEE 1012 recognizes need for risk management throughout system life cycle, not just final deployment.

Standard emphasizes independent review for reliability. Policymakers could mandate this for high-risk AI systems.