Artificial intelligence [chapter]

2021 Effective Directors  
Corporate governance and AI: time for a rethink? Worldwide, artificial intelligence (AI) presents opportunities in a whole variety of sectors: healthcare, education, financial services, marketing, retail, agriculture, energy conservation, government, smart or connected cities, and indeed regulatory technology itself. Allied with biotechnology and data analytics, it can be used to tackle a huge number of worldwide problems, where the predictive, analytical, and problem-solving nature of AI can
more » ... ke a huge difference in improving performance, research outcomes, productivity, and customer experience. AI is already having a major impact on our lives, and many countries are setting comprehensive strategies to take advantage of it. The House of Lords Select Committee on AI that I chaired took an optimistic view of the UK's potential, but 1 we also said that for successful development, we need to mitigate the risks such as the loss of public or stakeholder trust if AI is not seen to operate on ethical principles such
doi:10.4324/9781003201182-64 fatcat:o45gm6zi5zgsze2tnkaqekcj7i