Report from the Salzburg Global Corporate Governance Forum explores the impact of artifical intelligence on corporate governance, oversight, and risk management
In a world of accelerating digitalization and disruption, Salzburg Global Seminar’s 2023 Corporate Governance Forum on "Promise or Peril: Artificial Intelligence and the Future of Corporate Governance" explored the complex geopolitical considerations and risks posed by artificial intelligence (AI). Fellows considered whether corporations should (or must) adopt AI approaches in their corporate oversight functions and in their business operations, internal governance, and management of human capital.
Participants in the Forum addressed the opportunities and risks of artificial intelligence for corporate governance, what this means for the future of work following the pandemic, AI’s role in, and impact (if any) on ESG, stakeholder governance and corporate purpose, and lessons learned from other examples of disruptive technological change and accompanying societal developments, including their effect on corporate governance, oversight, and risk management.
While AI clearly presents an opportunity to improve corporate decision-making, operations, oversight, sustainability and reporting, will the widespread use of AI increase vulnerability to cyberattacks and instability, reinforce discrimination and biases, and risk losing control of privacy and critical corporate assets? What can be learned from companies that have rushed to invest in AI capabilities before they are prepared to use them effectively? What might be learned from previous examples of rapid technological and social disruption and the risks, opportunities, and potential impact on board duties and the delivery of corporate and social value?
In addition to the technological and operational challenges posed by AI, corporations around the world are facing difficult and complicated strategic questions about the geopolitical, infrastructure, and cyber risks posed by AI and the potential long-term risks of the “decoupling” and “regionalization” of digital infrastructure.
This report aims to capture the key takeaways from this year's session and share them beyond the candid yet closed discussions of the Corporate Governance Forum.
The report is now available to download, read and share:
Download the report as a PDF
The Salzburg Global Seminar program, "Promise or Peril: Artificial Intelligence and the Future of Corporate Governance" is part of the Salzburg Global Corporate Governance Forum. The program was held in partnership with the CLP Group and supported by BNY Mellon and The Alan M. and Nathalie P. Voorhees Fund.
