Corporate Governance and Artificial Intelligence

Overview

This PhD project will take a multidimensional approach to exploring how Corporate Governance responds to the fast-changing and broad application of Artificial Intelligence (AI) at the organisational levels.

AI is considered one of the most important technological innovations at present. AI holds myriad uses for different organisations and industries. For example, retail and shipping use AI for predictive logistics, Q&A through chatbots, or making recommendations related to customer preferences. Financial firms have found its use in fraud detection, automated trading, or financial advisory services. Healthcare organisations use AI to improve patient outcomes by automating clinical documentation and patient communication. While the possibilities of its use are endless, it is important to make it responsible for not disrupting the operational environment. Therefore, corporate governance has a crucial role in ensuring that AI adoption is safe and sound.

In addition, while organisations try to build their strategies around AI, they need to consider various associated AI risks, such as investment and compliance failures, operational, cyber-security, data, output, or people management-related risks. Thus, organisations must ensure solid ethical foundations that can manage risks and provide adaptable governance frameworks.

Corporate governance needs to be more vigilant in its oversight duties by asking the right questions and pressure-testing management’s plan to embed AI in its processes. Directors need to properly oversee cybersecurity risks, ensure strong governance mechanisms, promote healthy communication policies and implementation, and comply with ongoing regulatory requirements.

This project aims to (but is not limited to):

i.Explore the AI adoption trends in various industries

ii.Examine the role played by corporate governance in AI adoption

iii.Examine how corporate governance is tackling the risks associated with AI adoption

iv.Examine how corporate governance adopts AI for sustainable business practices or outcomes.

Methodology:

The project can be conducted based on quantitative, qualitative, or mixed methods.

We would welcome candidates who would like to explore the role of corporate governance in countering the threats and opportunities related to AI in different organisational settings.