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This course explores the complexities and challenges associated with implementing AI Risk Management frameworks, specifically focusing on the NIST AI RMF and the draft EU AI Act. It aims to educate compliance officers, ML engineers, and security professionals about potential roadblocks in operationalizing these standards, including issues of bias, inequality, and privacy. The teaching method involves qualitative studies and experimental work to illustrate these challenges. The intended audience includes professionals involved in AI system management and those interested in understanding the risks and standards compliance in AI technologies.