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Federal Retirement Thrift Investment Board Compliance Plan for OMB Memoranda M-24-10 – 09/2024

The Federal Retirement Thrift Investment Board (FRTIB, or the Agency) is taking steps to comply with the AI in Government Act of 2020 and Office of Management and Budget (OMB) Memorandum M-24-10, Advancing Governance, Innovation, and Risk Management for Agency Use of Artificial Intelligence. Compliance with M-24-10 also signifies a meaningful step toward responsible Artificial Intelligence (AI) implementation in the Agency’s operations.

STRENGTHENING AI GOVERNANCE

FRTIB is committed to strengthening AI governance through the use of governance bodies, policies and procedures as well as an overarching strategy. Additionally, FRTIB maintains an AI Use Case Inventory.

ADVANCING RESPONSIBLE AI INNOVATION

FRTIB plans to leverage the NIST’s AI Risk Management framework to implement AI services responsibly. The Agency will utilize existing governance processes to identify innovative AI uses and work together with other internal governance bodies to ensure responsible AI use.

MANAGING RISKS FROM THE USE OF ARTIFICIAL INTELLIGENCE

Leveraging the NIST AI Risk Management Framework as a guide, the Agency is focusing on developing an AI strategy, building out policies, procedures and controls to mitigate risks. This combination of policies, processes, governance activities and risk mitigation is aimed at ensuring safe and reasonable AI deployment and use at FRTIB.