One of the most consequential challenges confronting corporate governance in the near term will be its ability to exercise informed oversight over the application of artificial intelligence (“AI”) within its organization. It will be a challenge that will arise regardless of the industry sector in which the company operates, and regardless of how it applies AI in that operation.
The essence of the challenge is the rapidly emerging conflict between the perceived societal and commercial benefits arising from AI implementation, and the perceived societal and institutional risks arising from its use. The need to address the challenge is urgent; the competing interests of benefit and risk are hurtling at each other at hypersonic speed.
While the challenge is certain to arise at some point at the government/regulatory level, it is likely to arise more immediately at the corporate, operational level. And the governing board, with its strategic and risk management portfolios, is the most appropriate platform from which companies may resolve the challenge for the benefit of all corporate constituencies.
Nowhere is this risk/benefit conflict better demonstrated than in the health care sector, which is widely acknowledged for leveraging research and innovation to achieve advances and efficiencies in patient care and treatment.
Continue reading: https://www.forbes.com/sites/michaelperegrine/2022/04/26/the-looming-board-challenge-oversight-of-artificial-intelligence/?sh=386a824c287b
The essence of the challenge is the rapidly emerging conflict between the perceived societal and commercial benefits arising from AI implementation, and the perceived societal and institutional risks arising from its use. The need to address the challenge is urgent; the competing interests of benefit and risk are hurtling at each other at hypersonic speed.
While the challenge is certain to arise at some point at the government/regulatory level, it is likely to arise more immediately at the corporate, operational level. And the governing board, with its strategic and risk management portfolios, is the most appropriate platform from which companies may resolve the challenge for the benefit of all corporate constituencies.
Nowhere is this risk/benefit conflict better demonstrated than in the health care sector, which is widely acknowledged for leveraging research and innovation to achieve advances and efficiencies in patient care and treatment.
Continue reading: https://www.forbes.com/sites/michaelperegrine/2022/04/26/the-looming-board-challenge-oversight-of-artificial-intelligence/?sh=386a824c287b
