On November 1, 2023, the Office of Management and Budget (OMB) released a Proposed Memorandum on Advancing Governance, Innovation, and Risk Management for Agency Use of Artificial Intelligence (Draft Memorandum), which aims to provide guidance and establish a set of evaluation, monitoring, and risk mitigation practices for federal agencies regarding use of artificial intelligence (AI) technology. As described by the White House, OMB will “establish AI governance structures in federal agencies, advance responsible AI innovation, increase transparency, protect federal workers, and manage risks from government uses of AI.”
This effort builds on other executive AI initiatives, including the Blueprint for an AI Bill of Rights and the NIST AI Risk Management Framework (NIST AI RMF), and is one of the first actions taken in response to the White House’s landmark Executive Order on AI, which was released just two days before OMB’s Draft Memorandum.
Below, we detail three key takeaways from the Draft Memorandum, and discuss how this substantial set of guidance may impact the private sector, including government contractors. Companies interested in weighing in with OMB have until December 5,…
