According to the HITRUST 2024 #TrustReport, only 0.64% of organizations that received HITRUST certifications reported a security breach in their certified environments over 2022 and 2023. This statistic is a powerful testament to the robustness of the HITRUST framework and its unparalleled commitment to leading the industry in data protection standards.
With such a high success rate, it’s clear that HITRUST’s security assessments, including the new AI Risk Management Assessment, can play a critical role in safeguarding your organization’s AI initiatives. Are you assessing the risks associated with your AI tools before deploying them? Conducting due diligence is crucial to ensure that you have the necessary controls in place to mitigate risks.
Read our blog to learn how this framework ensures your business’s AI initiatives are secure, compliant, and aligned with industry best practices.
What is the HITRUST AI Risk Management (RM) Assessment?
The HITRUST AI Risk Management Assessment is a streamlined self-assessment designed to help organizations evaluate and manage the risks associated with AI.
This framework is built upon the National Institute of Standards and Technology (NIST) AI Risk Management Framework (RMF) and the ISO 23894 standard. HITRUST has consolidated the overlapping controls between these two standards into 51 key controls featured in the AI Risk Management Assessment.
One major advantage of the HITRUST AI Risk Management Assessment is its accessibility. Organizations do not need to be HITRUST-certified or even planning certification in the future to take advantage of this assessment.
Additionally, this framework is not restricted to the healthcare industry. Any company, regardless of the sector, can apply the assessment to measure AI-related risks.
Benefits of the HITRUST AI RM Assessment
The primary benefit of the HITRUST AI RM Assessment is that it offers a comprehensive yet simplified framework for managing AI-related risks.
Without this assessment, organizations would need to navigate hundreds of controls from both the NIST AI RMF and ISO 23247 standards. HITRUST significantly reduces this burden, saving security teams valuable time and resources.
By completing the HITRUST AI RM Assessment, organizations position themselves to meet emerging AI compliance regulations and requirements. This proactive approach ensures that your AI initiatives align with industry standards and best practices, providing your organization with a competitive advantage while saving time and effort in the future.
Moreover, the HITRUST AI RM Assessment helps organizations comply with specific directives outlined in frameworks such as ISO/IEC 42001 and the EU AI Act. These regulations mandate periodic AI risk assessments, and the HITRUST AI RM Assessment ensures your risk management practices are both comprehensive and in compliance with current and forthcoming international standards.
Who should use the HITRUST AI RM Assessment?
The HITRUST AI RM Assessment is suitable for a wide range of organizations. This self-assessment is not mandatory for companies that are HITRUST-certified and utilizing AI in their operations.
However, any business looking for valuable insights into the state of their AI development and usage would benefit from this assessment. It helps organizations identify areas for improvement and ensure they are maintaining compliance as both technology and regulations evolve.
Companies can choose to conduct the assessment internally or hire a trusted third-party auditor, such as A-LIGN, to ensure a thorough and objective evaluation. For organizations lacking internal expertise or resources, working with a trusted audit partner can be particularly valuable.
Achieving AI compliance with HITRUST
As AI adoption continues to grow, organizations are investing heavily in integrating AI technology into their daily operations. In 2024, businesses are projected to spend billions on AI initiatives, with adoption rates soaring across multiple sectors.
HITRUST’s anticipated AI certification, set to be released in November 2024, will further support organizations’ compliance efforts. By completing the AI risk management assessment now, businesses can position themselves for success and be well-prepared for upcoming certification requirements.
Contact us to learn more about how A-LIGN can help your organization complete a HITRUST AI Risk Management Assessment today.
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