Smart Companies: Company & board members liability in the age of AI
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | https://doi.org/10.21814/unio.6.1.2704 |
Resumo: | Artificial Intelligence, although at its infancy, is progressing at a fast pace. Its potential applications within the business structure, have led economists and industry analysts to conclude that in the next years, it will become an integral part of the boardroom. This paper examines how AI can be used to augment the decision-making process of the board of directors and the possible legal implications regarding its deployment in the field of company law and corporate governance. After examining the three possible stages of AI use in the boardroom, based on a multidisciplinary approach, the advantages and pitfalls of using AI in the decision-making process are scrutinised. Moreover, AI might be able to autonomously manage a company in the future, whether the legal appointment of the AI as a director is possible and the enforceability of its action is tested. Concomitantly, a change in the corporate governance paradigm is proposed for Smart Companies. Finally, following a comparative analysis on company and securities law, possible adaptations to the current directors’ liability scheme when AI is used to augment the decisions of the board is investigated and future legal solutions are proposed for the legislator. |
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Smart Companies: Company & board members liability in the age of AIArticleArtificial Intelligence, although at its infancy, is progressing at a fast pace. Its potential applications within the business structure, have led economists and industry analysts to conclude that in the next years, it will become an integral part of the boardroom. This paper examines how AI can be used to augment the decision-making process of the board of directors and the possible legal implications regarding its deployment in the field of company law and corporate governance. After examining the three possible stages of AI use in the boardroom, based on a multidisciplinary approach, the advantages and pitfalls of using AI in the decision-making process are scrutinised. Moreover, AI might be able to autonomously manage a company in the future, whether the legal appointment of the AI as a director is possible and the enforceability of its action is tested. Concomitantly, a change in the corporate governance paradigm is proposed for Smart Companies. Finally, following a comparative analysis on company and securities law, possible adaptations to the current directors’ liability scheme when AI is used to augment the decisions of the board is investigated and future legal solutions are proposed for the legislator.UMinho Editora2020-07-05T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttps://doi.org/10.21814/unio.6.1.2704eng2183-3435Kindylidi, Iakovinainfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2022-09-20T11:37:14Zoai:journals.uminho.pt:article/2704Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T15:49:41.305577Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Smart Companies: Company & board members liability in the age of AI |
title |
Smart Companies: Company & board members liability in the age of AI |
spellingShingle |
Smart Companies: Company & board members liability in the age of AI Kindylidi, Iakovina Article |
title_short |
Smart Companies: Company & board members liability in the age of AI |
title_full |
Smart Companies: Company & board members liability in the age of AI |
title_fullStr |
Smart Companies: Company & board members liability in the age of AI |
title_full_unstemmed |
Smart Companies: Company & board members liability in the age of AI |
title_sort |
Smart Companies: Company & board members liability in the age of AI |
author |
Kindylidi, Iakovina |
author_facet |
Kindylidi, Iakovina |
author_role |
author |
dc.contributor.author.fl_str_mv |
Kindylidi, Iakovina |
dc.subject.por.fl_str_mv |
Article |
topic |
Article |
description |
Artificial Intelligence, although at its infancy, is progressing at a fast pace. Its potential applications within the business structure, have led economists and industry analysts to conclude that in the next years, it will become an integral part of the boardroom. This paper examines how AI can be used to augment the decision-making process of the board of directors and the possible legal implications regarding its deployment in the field of company law and corporate governance. After examining the three possible stages of AI use in the boardroom, based on a multidisciplinary approach, the advantages and pitfalls of using AI in the decision-making process are scrutinised. Moreover, AI might be able to autonomously manage a company in the future, whether the legal appointment of the AI as a director is possible and the enforceability of its action is tested. Concomitantly, a change in the corporate governance paradigm is proposed for Smart Companies. Finally, following a comparative analysis on company and securities law, possible adaptations to the current directors’ liability scheme when AI is used to augment the decisions of the board is investigated and future legal solutions are proposed for the legislator. |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020-07-05T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://doi.org/10.21814/unio.6.1.2704 |
url |
https://doi.org/10.21814/unio.6.1.2704 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
2183-3435 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.publisher.none.fl_str_mv |
UMinho Editora |
publisher.none.fl_str_mv |
UMinho Editora |
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reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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