695th Lord Mayor’s Ethical AI Initiative

Aim: To provide ways in which professionals and firms worldwide can respond to the ethical challenges of Artificial Intelligence (AI, machine-learning) regulation

The Worshipful Company of Information Technologists, in association with the Chartered Institute for Securities & Investment (CISI), British Computer Society, BSI, United Kingdom Accreditation Service, London Chamber of Commerce & Industry, Northeastern University, and Z/Yen Group, with the cooperation of Citigroup, London Metal Exchange, and LearnerShape launched an initiative to develop ethical AI standards. The initiative is international rather than national, and promotes the use of existing ISO standards (particularly ISO 42001) rather than the creation of new standards, particularly ones that would impede international trade in computer-based services.

Background

AI has the potential to affect society and individuals materially in both positive and negative ways. Rapid development of AI technology means that ethical considerations must be taken into account from the beginning of the design process. AI systems rely on large amounts of data, which raise privacy concerns.  Without ethical guidelines and regulations in place, the misuse or mishandling of data can result in harm to individuals or groups.  Ideally, AI systems are transparent, accountable, and inclusive, and do not reinforce or amplify existing inequalities.

As AI becomes more advanced and widespread, there are growing concerns about issues such as bias, transparency, accountability, and safety.  If people do not believe that AI is being developed and used in a responsible and ethical manner, they hesitate to use or interact with beneficial technologies. We contend that firms which achieve 42001 certification and train a reasonable number of professionals in ethics should be able to be categorised as ‘low risk’, particularly under the EU’s AI Law.

The AIQI Consortium has brought out a free short course on ISO 42001. This self-paced course provides a comprehensive understanding of ISO/IEC 42001, the international standard for AI management systems. Participants will learn about its requirements and how organizations can establish, implement, maintain, and improve AI management systems.

Objectives

The initiative has three streams – a consortium, consensus, and courses:

Consortium – AI Quality Infrastructure & Firmwide Certification

The initiative promotes the use of ISO/IEC 42001:2023 Artificial Intelligence – Management System by firms, an organisational certification similar to ISO 9000 (quality), ISO 14000 (sustainability), ISO 27000 (information security), ISO 65000 (resilience), etc. At the Mansion House AI Summit, held on 27 March 2024, and the TIC Summit 2024, held on 14 May in Brussels, representatives from 38 nations quality infrastructure bodies signed the Walbrook AI QI Accord. There is now a TIC Council permanent secretariat and AI Quality Infrastructure (AIQI) Consortium, with more nations joining.

Consensus – Responsible AI

On 15 July the Lord Mayor launched the Coffee House Consensus on Responsible AI when giving the opening keynote address at the International Corporate Governance Network (ICGN) London Conference. Developed in collaboration with major global investors whose assets under management exceeds $32tn, the objective is to sign this two-page consensus to help investors and investees coordinate around the responsible deployment of AI, thus increasing returns and reducing risks. In short the ICGN members are recommending that their investees use ISO 42001 along with the nations and regulators in their investment domains. The current document is an Exposure Draft and comments are welcome.

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Courses – Professional Certification

On 27 June 2023 we launched the “695th Lord Mayor’s Ethical AI Initiative” on “Delivering Ethics Courses For AI Deployers & Builders” at CISI, starting in financial services.  That launch shared a syllabus for wider course development. The syllabus covered the field of ethics, with an emphasis on Principlism, the ISO standards and other guidelines, with an emphasis on ISO 42001, and the BCS’s DIODE methodology for the safe introduction of new technologies. We now have several online courses:

Based on the syllabus set out in Appendix 1, the following courses are available from a range of professional institutes:

Since 10 November 2023, amongst all the courses, we have had well over 10,000 graduates, in over 60 countries, from over 500 firms, including several regulators and central banks. We are working on further courses in the maritime, insurance, and property sectors.  The 85+ members of the Chartered Association of Business Schools are also rolling out numerous courses based on the syllabus, and we have had fantastic support from Innovate Finance.

Steering Group

While course development is underway and led by relevant institutes, the role of the Steering Group is just that, steering:

  • making intellectual connections and contributions;
  • making personal connections to people or organisations who might usefully contribute;
  • providing a sounding board and critiquing function;
  • publicising when appropriate, particularly towards the end of the Initiative.

WCIT and Professor Mainelli appointed Liveryman Nicholas Beale as Chair of the Steering Group.  The Steering Group is exploring how to provide regular updates for a rapidly changing field, including via CISI’s monthly ethics columns. We are actively exploring extending the course to other professions.

For further information contact Steering Group Chairman – Nicholas Beale

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Appendix 1 – Course Development

The course syllabus, developed by the Lord Mayor, Professor Michael Mainelli, consists of six parts: