ISO 42001 May Become a Payments AI Governance Benchmark

Payments firms need a way to identify where artificial intelligence is being used and who’s responsible for it, as well as to monitor how those systems are managed over time. ISO/IEC 42001 puts a management framework around those systems, including AI a company buys rather than builds. Published in December 2023, the standard establishes requirements for an AI management system, or AIMS.