Artificial Intelligence in Corporate Governance

Abstract

The study considers one of the promising directions of development of modern corporations - the introduction of artificial intelligence (AI) in corporate governance. Numerous experiences with AI in making managerial decisions have shown positive results, which forces many researchers to make optimistic forecasts about the emergence of AI in the future that can realize the functions of governing bodies of a legal entity. At the same time, the study notes that the global economic crisis caused by the COVID-19 pandemic can become a new driver for such a digital transformation. The prospects for introducing AI into corporate governance are evaluated in the study using various approaches, which the author divides into three groups: AI realism, in which AI is seen as an assistant that can simplify the work of members of governing bodies; AI enthusiasm, in which it is assumed that the AI director will replace members of governing bodies in the future; AI-radicalism, in which the author assesses the possibility of getting AI out of human control and creating completely autonomous legal entities. The author also analyzes the possible problems associated with the implementation of AI in corporation governance, some of which are outstripping.