After 18 months of numerous workshops, drafts, and discussions, the National Institute of Standards and Technology (“NIST”) published its inaugural AI Risk Management Framework (the “AI Framework”) in January 2023.
Over the last year, artificial intelligence (“AI”) has become the hot topic of conversation. Recent breakthroughs in generative AI are driving this surge in popularity, giving AI systems the ability to generate human language, images, and even music. These new abilities herald a new wave of exciting applications. Possibilities include automated customer support, document drafting, tax planning, real time translation, and even AI-assisted computer programming. These applications would have been rejected as pure science fiction only a few years ago.
