Researchers suggest treating artificial intelligence and machine learning as a corporate responsibility issue could help mitigate its risks.
Companies are in need of a new approach to coping with the risks presented by machine learning (ML) and artificial intelligence, according to academics, which should include sharing the governance role with stakeholders.
According to legal experts, despite eagerness among businesses to adopt machine learning (an application of artificial intelligence which sees machines harvesting data to work out optimal decisions on their own) “corporations seem to be slower to recognise the need to manage the risk of deploying ML systems”.
Iris Chiu, of UCL in London, and Ernest Lim, of the National University of Singapore, propose in a new paper
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Research from consultancy Alvarez & Marsal reveals that 54 UK companies are currently activist targets, and that more than two-thirds of activist action across Europe include demands for boardroom changes.
European financial institutions should improve the diversity of their management bodies to overcome the risk of ‘group think’ and ensure sound governance, say European banking authorities in new guidelines published this week.
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