NIST stands for “National Institute of Standards and Technology” and is a major US federal agency that emerged from the former National Bureau of Standards. With a focus on standardization and promotion of technologies, especially in information technology, NIST is known for the NIST Cybersecurity Framework.
Founded in 1901 and renamed in 1988, NIST has approximately 3,400 employees and an annual budget of over one billion dollars. As an independent institution, it provides standards, measurements and technical support and plays a key role in innovation and competitiveness, particularly in the areas of cryptography and digital signatures. NIST, under the U.S. Department of Commerce, indirectly influences companies through Federal Information Processing Standards (FIPS) in government procurement.
It promotes the development of products worldwide in various areas such as smart grids, electronic health records and computer chips. NIST's core mission is to strengthen the U.S. economy through innovation in measurement, standards and technology. It plays a central role in the global promotion of cybersecurity through standardization, particularly in the area of networked medical devices.