Dictionary · NIST AI RMF 1.0

Characteristics of trustworthy AI systems include: valid and reliable, safe, secure and resilient, accountable and transparent, explainable and interpretable, privacy-enhanced, and fair with harmful bias managed.

an engineered or machine-based system that can, for a given set of objectives, generate outputs such as predictions, recommendations, or decisions influencing real or virtual environments. AI systems are designed to operate with varying levels of autonomy

Human-cognitive biases relate to how an individual or group perceives AI system information to make a decision or fill in missing information, or how humans think about purposes and functions of an AI system. Human biases are omnipresent in decision-making processes across the AI lifecycle and system use, including the design, implementation, operation, and maintenance of AI.

Risk tolerance refers to the organization’s or AI actor’s ... readiness to bear the risk in order to achieve its objectives. Risk tolerance can be influenced by legal or regulatory requirements.

The composite measure of an event’s probability of occurring and the magnitude or degree of the consequences of the corresponding event. The impacts, or consequences, of AI systems can be positive, negative, or both and can result in opportunities or threats (Adapted from: iso 31000:2018 )