An AI model inventory documents the models in use, their purposes, and how they support specific business functions. According to the AAIA™ Study Guide, maintaining a comprehensive AI model inventory allows auditors to trace model objectives, performance metrics, and use cases back to business goals.

“A well-maintained AI model inventory supports governance and alignment by offering a centralized view of model functions, business integration, and ownership. It ensures transparency and strategic coherence.”

While policies and assessments are important, only the inventory directly shows which AI models exist and their connection to organizational objectives.