The Organisation for Economic Co-operation and Development (OECD) has introduced the first global framework for companies to report on their efforts in developing safe, secure, and trustworthy AI systems. This initiative supports the Hiroshima Process International Code of Conduct for Advanced AI Systems, introduced during Japan’s G7 Presidency.
Leading AI developers, including Amazon, Google, Microsoft, OpenAI, Fujitsu, NTT, and SoftBank, have pledged to participate in this reporting framework. The framework aligns with multiple risk management systems to ensure consistency in AI governance worldwide.
Organizations developing advanced AI systems are invited to submit their reports by April 15, 2025, with annual updates encouraged.
This initiative emphasizes responsible AI development, urging organizations to uphold human rights, fairness, and safety throughout the AI lifecycle, from design to deployment. It also calls for internal governance structures and self-assessment mechanisms to maintain accountability, while supporting global monitoring tools to oversee AI advancements responsibly.
The OECD is working with governments worldwide to measure and analyze AI’s impact on training needs and labor markets, aiming to help create responsible, human-centered AI policies that enhance societal well-being.
In collaboration with the private and public sectors, the OECD has developed a framework to better manage risks associated with AI, intended for voluntary use to improve the incorporation of trustworthiness considerations into AI products, services, and systems.
The global AI model risk management market was estimated at USD 5.48 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 12.8% from 2024 to 2030, reflecting the increasing importance of robust AI risk management practices.
This framework provides a structured approach for companies to demonstrate their commitment to responsible AI development, fostering transparency and accountability in the rapidly evolving AI landscape.
