Of interest to those involved in governance.
Introduction
Artificial Intelligence (AI) is now a part of daily life and is embedded in many devices and applications currently in use in many organisations.
There are considerable opportunities to leverage AI in many different processes such as forecasting, image analysis, voice recognition and machine learning and to automate tasks such as drafting copy or hiring staff. However, the technology comes with the possibilities of misuse and unintentional bias alongside data privacy and ethical concerns. Current regulatory frameworks have not kept pace with, and are therefore not equipped to address, the issues and risks that have emerged as a result of the rapid evolution of AI technologies.
In the absence of effective regulation, boards and senior management should consider how they can effectively govern the lawful, ethical and responsible use of AI and AI applications in their organisations and by their employees. It is also good governance to ensure that the use of generative AI is incorporated into an organisation’s risk management framework.
This document includes:
- Introduction
- Defining AI
- Types of AI
- The impact of AI
- Impact of AI on the role of the company secretary or governance professional
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