News Summary

• Few small businesses possess a legal department, compliance manager or IT personnel who review the AI applications prior to launching them.
• Privacy laws, consumer protection legislation and laws on automated decision-making systems often affect small businesses in the same way they affect a big company.
• It is up to the company, not the company that developed the AI, to make sure the AI is truthful.
• The NIST AI Risk Management Framework has been adopted by many regulators and customers as the framework that defines responsible management of AI risk.