How FAIRLY AI Strengthened their AI Governance by Achieving ISO 42001 Compliance
Fairly AI is an AI governance platform that provides next-gen testing and smart system protection for organizations deploying AI systems. Starting their journey in 2015 as a research project, FAIRLY AI combines automated multi-agent-as-a-judge framework to evaluate and monitor AI systems against security and compliance controls. They operate globally from their headquarters in Kitchener-Waterloo, Canada.
The Challenge: Ensuring Scalability and Compliance
Fairly AI faced two major challenges in AI compliance:
Challenge #1: Scaling while staying compliant
As AI models are becoming more advanced and complex in nature, pre-audit processes are changing. Previously, simple checklist based audits were sufficient to circumvent regulatory scrutiny. Today, organizations, especially the larger ones with sophisticated and heterogeneous processes need to invest a significant amount of time and resources to move every bit of complicated process without delays and operational risks.
Challenge #2: Keeping up with the dynamic regulatory landscape
The second challenge was addressing regulatory shifts on time. As regulations add new clauses and requirements in their checklists, companies can fall out of compliance unless they don't have an effective system in place to implement them. Without a scalable compliance framework, FAIRLY AI risked delays that undermined their credibility as a major player in the AI governance space.
Drivers for ISO 42001 Certification
While discussing drivers, Hassan Patel (Director of Global AI Policy Compliance Engineering at FAIRLY AI) highlighted the importance of ISO 42001 certification to demonstrate their commitment to strong AI governance and security.
From day one, Fairly AI doesn't believe in a checklist mindset. Instead, by working with Prescient, they validated that there is a better way to ensure ISO 42001 compliance and streamline the audit process by innovating with Prescient Security.
"The style was kind of thinking of it as a checklist, but then reassessing it, we realized the need for artifacts that actually demonstrate a commitment to 42001 requirements," Hassan explained.
The Solution:
By partnering with Prescient Security, one of the first certification bodies in the world to become accredited in 42001, FAIRLY AI was able to refine their approach to AI governance in a scalable and secure manner.
A key component of the service offered by Prescient Security was working with FAIRLY AI’s leaders to learn from the audit process. FAIRLY used the experience to:
- Validate and strengthen their compliance obligations without impacting daily operations and eating up the IT team’s bandwidth.
- Develop a well structured and comprehensive auditor-friendly documentation. Auditors appreciated the quality and depth of their records.
- Use Prescient Security’s processes for future audits and use the learning from each engagement for continuously improving existing as well as future processes.
Overall, Prescient Security’s expertise and FAIRLY AI’s resource knowledge helped both companies build a clear, structured system to adopt a compliance ready approach and security first practices. Their guidance eliminated redundant and manual heavy processes, set clear expectations, and added predictability in the audit process. This joint exercise evolved to a formal partnership where Fairly AI will work with future clients as ISO 42001 implementation partners for audit readiness and Prescient Security as their Auditor.
Here’s what Hassan Patel (Director of Global AI Policy Compliance Engineering at FAIRLY AI) said about Hidden AI and Prescient Security’s excellence in audit documentation during a joint education webinar on ISO 42001:
How Prescient Security Built the Foundation for FAIRLY AI Through Compliance Coverage
Prescient Security’s in depth audit coverage helped FAIRLY AI improve a number of verticals across their workflow. The key results included:
- Complete Compliance Coverage: The new and refined compliance processes helped FAIRLY gain clear, comprehensive, well structured, and audit friendly documents that aligns with ISO 42001 with zero gaps.
- Increased Market Interest: Successfully passing ISO 42001 audit led to heightened industry attention. More companies sought FAIRLY’s expertise which helped create new business opportunities and partnerships with key players.
- Unlock New Growth Opportunities: With newly gained compliance capabilities, FAIRLY could showcase themselves to new prospects as better equipped to handle security and privacy risks. This translated to competitive advantage and boosted their bottom line.
- Platform Enhancements – Through this experience FAIRLY modernized their platform to make audit processes smoother for clients.
- Robust Platform: The newly gained platform’s effectiveness enabled FAIRLY’s team to ensure a smoother audit process for their existing and new clients alike.
Advice for Companies Considering ISO 42001
Hassan emphasizes that compliance should be integrated thoughtfully into business operations from the start rather than being treated as an afterthought.
"It’s something that you’re going to have to actually build into your organization and not just say that you have, because it’s an ongoing process of renewing certifications. It’s easier just to have the processes baked in."
Hassan also stresses on the importance of setting an AI Governance compliance program early - "It’s easier to do it earlier in the company than trying to reverse certain procedures and habits that a company has baked in after the fact."
The Result and Final Thoughts
FAIRLY AI’s journey to ISO 42001 compliance underscores the importance of structured preparation, expert guidance, and strong documentation. Working with Prescient Security helped them to refine their approach to build a robust, audit-ready compliance program.
This transformation played a crucial role in making their audit process seamless, boosting their credibility, attracting new business, retaining existing ones, and strengthening their platform for future audits.
This joint ISO 42001 compliance exercise evolved into a formal partnership where Fairly AI will work with future clients as ISO 42001 implementation partners for audit readiness and Prescient Security as their Auditor. Learn more about Fairly AI’s ISO 42001 solution here.
FAIRLY AI’s experience reinforces a key lesson: GRC should be embedded into business operations from the start rather than implementing its principles as an afterthought.
Is your organization ready to simplify compliance and strengthen your governance posture? Our experts can help you achieve audit readiness with confidence like FAIRLY AI.
Reach out for a personalized consultation to learn how our experts can help you with ISO 42001 certification.