Page 8 - Nemko - Annual performance - 2023

Trust in a Digital World

Companies around the world trust Nemko to The implementation of the upcoming
assess their products, systems, installations, regulations and standards will profoundly
and personnel for conformity with relevant impact various industries. Besides traditional
standards and regulations. Since 1933, we industries subject to AI regulations and
have ensured that our customers comply with standards related to products and systems,
requirements anywhere in the world, enabling other sectors in the service domain, such as
them to create and communicate trust in their healthcare, finance, and public sectors, are
physical products and in their processes. After likely to be the first to experience the effects
ninety years of supporting our customer in of the upcoming regulations and standards.
physical trust, we are expanding our horizons There are already standards addressing the use
into the pioneering field of digital trust.
of artificial intelligence in, for example, medical
In our increasingly digital world, trust in devices. AI algorithms undergo stringent
digital systems, services, and transactions is tests for safety, accuracy, and bias before
paramount, demanding increased attention
to security, privacy, reliability, transparency,
compliance, user experience, and ethical use of
technology.

The rapid advancement of artificial intelligence
(AI) technology and its applications across every
sector have sparked a global conversation on
regulation. Governments and organizations
worldwide have grappled with the challenge
of balancing innovation with ethical and safety
concerns, with the increased demand for digital
trust for AI systems. The European Union, the
United States, the United Kingdom, and other
countries are actively developing assurance
frameworks to address these demands.

AI Assurance encompassing both soft
assurance - i.e. enabling governance, risk,
and compliance - and hard assurance - i.e.
providing AI technology and software - will grow
significantly as the global and local regulations
and standards on artificial intelligence such
as the EU AI Act, ISO/IEC 42001, and US’s
NIST Risk Management Framework are taking
shape. As a result, there is a need for testing,
inspection, certification, and compliance (TICC)
players as well as software companies to help
create the assurance for systems using AI.

6