Integrating NIST AI RMF into Modern Risk Frameworks

This white paper examines how organizations can harmonize the NIST AI Risk Management Framework (AI RMF), introduced in 2023, with established enterprise risk management (ERM) standards such as ISO 31000, COSO ERM, and FAIR. It argues that the challenge is not adoption but embedding AI-specific risk oversight within existing governance structures. The document provides a practical crosswalk that maps NIST AI RMF functions (Govern, Map, Measure, Manage) to conventional risk pillars (governance, risk identification, risk analysis, risk treatment) and corresponding standards. value from responsible AI.