---
term: "AI Risk Management Framework"
category: "Governance and model risk"
url: https://agenticopenfinance.com/glossary/ai-risk-management-framework
source: AgenticOpenFinance glossary
---

# AI Risk Management Framework

> NIST's voluntary framework for managing AI risks, organised into the functions Govern, Map, Measure and Manage.

The AI Risk Management Framework is a voluntary framework published by the US National Institute of Standards and Technology to help organisations manage the risks of AI systems. It is organised into four functions, Govern, Map, Measure and Manage, and describes characteristics of trustworthy AI such as validity, safety, security, accountability, explainability, privacy and fairness. NIST's Generative AI Profile applies the framework to generative models, including risks such as confabulation.

Related terms: [Confabulation](https://agenticopenfinance.com/glossary/confabulation.md), [Explainability](https://agenticopenfinance.com/glossary/explainability.md), [Model risk](https://agenticopenfinance.com/glossary/model-risk.md), [AI management system](https://agenticopenfinance.com/glossary/ai-management-system.md)