AI Risk Management

AI risk management is a continuous, contextual process for identifying, analysing, evaluating, treating and monitoring the risks of an AI system throughout its lifecycle. NIST structures this voluntarily through Govern, Map, Measure and Manage; Article 9 of the EU AI Act requires a documented and regularly reviewed risk-management system for high-risk AI systems. A specific legal duty cannot be inferred from a tool label alone.

Use the term when assessing an AI use case before a pilot, introduction, change or scale-up through its purpose, affected people, foreseeable misuse, benefits, potential harms and controls.

A one-off checklist before launch is treated as a substitute for ongoing monitoring, incident learning and reassessment. Risks may also be documented abstractly without an accountable decision, threshold or treatment.