Artificial Intelligence- The New Trend In Corporate Governance
- IJLLR Journal
- 15 minutes ago
- 1 min read
Shubhi Jain, Amity Law School, Noida
Adit Kudeshia, Amity Law School, Noida
ABSTRACT
Artificial Intelligence which was known popularly for its use as chatbots, virtual assistants, content creation, etc. is now occupying a wide variety of more complex roles and being assigned increased responsibility. It is being introduced in new spheres such as automated vehicles, healthcare, business, governance, etc. Many corporations are extensively exploring the role of AI in boosting productivity and efficiency of the company. Progressive businesses are also looking into employing AI in managerial and administrative roles which includes but is not limited to giving artificial intelligence a seat on the board of directors. This paper aims to study the important considerations that must be addressed before assigning such responsibilities to artificial intelligence whose decisions can have very real monetary and social consequences. It also compares the nature of decision making between humans and AI in terms of ethics, morality, rationality, etc. in addition to explaining the various obstacles that are associated with governance roles of AI such as accountability. It further studies the legal implications of employing AI and the various legislative hurdles including the lack of legal personality. While the extent to which AI is beneficial or detrimental to governance is not the question present, but rather it aims to explore the potential of artificial intelligence in promoting good corporate governance.
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