Q. AI is transforming industries at an exhilarating pace but there are widespread concerns about its regulation. What are your views on a global standard and the hurdles to adoption?

A. AI is an exciting technology that can be applied to almost anything, helping companies optimise their daily operations. However, its versatility is also a hurdle to its widespread adoption. To ensure its safety, reliability, and ethics, business leaders must carefully consider its specific use case and identify possible risks. They must ask: What is our purpose in adopting AI, what benefits can it offer, and what are the negatives if it is misused?

Governance and a structured approach are key to mitigating risk. AI solutions must be trusted and work as intended, requiring strict policies, controls, and expertise. To avoid risks associated with such powerful technologies, they need a systematic approach to assessing opportunities and ticking off critical points.

Existing and emerging regulations, such as the EU AI Act, start to address these concerns by establishing harmonised standards for safety, reliability, and fundamental rights. However, AI regulation varies both regionally and internationally. ISO/IEC 42001 is voluntary but offers a cross-border approach for governance and in our recent ViewPoint survey, nearly all respondents developing new solutions recognised the need for a whole management system approach.

AI is highly complex, with unpredictable impacts, and requires specialised knowledge. There’s a strong need for guidance as many companies prefer structured frameworks over self-regulation.

Q. With so many AI solutions emerging, what should business leaders focus on?

A. There’s no one-size-fits-all solution. It depends on the industry and business needs. Generally, AI that supports employees and operational processes is most valuable.

AI technology is continuously evolving, and standards must adapt to keep pace. However, if they are introduced too quickly, companies risk not having a robust governance framework to ensure safe, reliable, and ethical AI solutions. Standards must also be practical and not overly complex to apply, or companies will not use them.

Q. How effective are the current management frameworks for AI?

A. Several standards exist, from the National Institute of Standards and Technology (NIST) in the US to international organisations like the Organisation for Economic Co-operation and Development (OECD) and the International Organization for Standardization (ISO), which created ISO/IEC 42001. This stands out as it provides a foundation for applying process governance, which can help companies navigate the AI risk landscape. It also helps them comply with regulations, be transparent, and demonstrate to stakeholders that they have a structured approach in place.

As a certification body, we see how structured governance through standards benefits industries, from quality management to cybersecurity, by balancing innovation and risk management. As Chair of the Independent International Organisation for Assurance (IIOA), I believe third-party certification should focus on supporting companies in delivering ethical AI solutions.

The IIOA works to raise awareness about ISO/IEC 42001 implementation and certification while contributing to standards evolution. We also explore AI’s role in improving certification processes while ensuring independence, quality, and integrity. Maritime is exploring AI in global fuel standards.

Q. What role could AI play in verifying origin and authenticity?

A. Ensuring the integrity and sustainability of maritime fuels requires a comprehensive approach, including certification and digital tracking systems from production to consumption. AI could enhance verification by analysing vast datasets to confirm fuel origin, detect anomalies, and identify potential compliance issues or fraud.

Its role in verification could be transformative, strengthening compliance with evolving sustainability standards and ensuring trustworthy Proofs of Sustainability (PoS) or guarantees of origin. However, coordinated efforts and investment are needed to align AI with these evolving regulations.

Q. What steps should governments take to enable a smoother transition to AI verification?

A. To achieve true AI-driven verification systems for global fuel standards, governments will need to establish regulatory frameworks with clear standards and enforcement mechanisms, which certification bodies can then support.

Authorities should mandate emission inventory reporting for alternative fuels and provide centralised repositories similar to the Union database for biofuels. Industry collaboration will also be essential in achieving this and developing best practices for the safe and sustainable adoption and implementation of these new fuels. AI-powered real-time monitoring
and predictive analysis will further strengthen these efforts, providing continuous oversight and optimisation of the fuel lifecycle.

ISO/IEC 42001 certification could potentially serve as a compliance mechanism, so its adoption is of great interest to business leaders. We are now considering whether major tech firms will require this for their suppliers, potentially making it a ‘ticket-to-trade’. This could significantly impact the AI assurance landscape.

Q. Looking ahead, what will the picture of global standards for AI look like?

A. Like other landmark ISO standards for quality, environmental management, safety, and cybersecurity, AI standards will evolve over time. While core principles remain, industry demands and regulatory landscapes shift, necessitating periodic updates. Sector-specific standards are likely, as we’ve seen in aerospace, automotive, and food safety.

Given AI’s rapid advancements and complexities, tailored standards will be needed to address industry-specific risks and unlock new opportunities for adoption.