Business Explainer The AI Management Essentials Tool

“Policy makers should think very carefully about how we can make sure AI is used to ensure small and medium businesses are more efficient and profitable, which will save the taxpayer in the long run,” he said.

Hare also said that trust was a ‘paramount consideration’ for SMEs in adopting AI.

“Delivering on promises, proving its benefits and ensuring confidentiality are crucial. For [SMEs] to confidently use AI, they need assurance that the generated answers are reliable and that their employees are adequately trained to implement AI without introducing new risks.”

So, as AI becomes integral to more industries, the question of managing this new technology responsibly is more critical than ever. To meet this need, the Department for Science, Innovation and Technology (DSIT) has developed the AI Management Essentials (AIME) tool.

A draft version of the ‘tool’ is currently open for public consultation. It hopes to offer a streamlined, accessible way for organisations to evaluate and strengthen their AI management practices.

What Is It?

As AI legal frameworks and regulations are rapidly expanding, navigating the requirements for managing the technology in a responsible way can be overwhelming, especially for SMEs that may lack the resources of larger corporations.

AIME aims to simplify this process by consolidating key principles from established AI laws and regulations, such as The EU AI Act, ISO/IEC 42001 and the NIST Risk Management Framework.

AIME wants to create a self-assessment tool that allows organisations to help assess the maturity of their AI management systems. It will provide directors with measures like a self-assessment questionnaire that reviews essential AI governance components; ratings that score the robustness of an organisation’s AI management system; and actionable recommendations to address any weaknesses.

Key Focus Areas

AIME’s structure covers three essential areas to support organisations in building responsible AI systems:

• Internal Processes – this evaluates organisational policies, documentation, and maintenance of AI system records.

• Risk Management – AIME focuses on impact and risk assessments, data management, and bias mitigation processes to ensure fairness.

• Communication – this area assesses transparency and reporting mechanisms to help organisations respond to issues promptly and communicate effectively with stakeholders.

The current public consultation is open until 29th January 2025 and is an opportunity to shape AIME before its official release. After conducting pilots and workshops, the DSIT is seeking input from the broader public to refine AIME and ensure it effectively addresses the needs of diverse organisations. In the future, there is potential for AIME to be incorporated into public sector procurement, creating a pathway for organisations looking to engage in public projects.

AIME is viewed by policymakers as a proactive approach to helping SMEs and start-ups understand their organisation’s AI readiness, identifying areas for improvement, and laying the groundwork for responsible, effective AI governance.