New risks related to emerging technologies and reputation for corporate governance
Open Access
- 26 May 2020
- journal article
- Published by Virtus Interpress in Journal of Governance and Regulation
- Vol. 9 (2), 64-74
- https://doi.org/10.22495/jgrv9i2art4
Abstract
Artificial intelligence (AI) has moved from theory into the global marketplace. The United Nations World Intellectual Property Organization released the first report of its Technology Trends series on January 31, 2019. It considered more than 340,000 AI-related patent applications over the last 70 years. 50 percent of all AI patents have been published in just the last five years. The challenges, potential risks, and opportunities for business and corporate governance from emerging technologies, especially artificial intelligence, have been summarized as whereby machines and software can analyze, optimize, prophesize, customize, digitize and automate just about any job in every industry. Boards of directors and executives need to recognize and understand the new risks associated with these emerging technologies and related reputational risks. The major research question of this paper is how boards of directors and executives can deal with both risk challenges and opportunities to strengthen corporate governance. Accordingly, the following sections of this paper discuss key risk management issues: deep shift risks, global risks, digital risks and opportunities, AI initiatives risks, business risks from millennials, business reputational risks, and conclusions.Keywords
This publication has 13 references indexed in Scilit:
- Cybersecurity Description and Control Criteria to Strengthen Corporate GovernanceJournal of Leadership, Accountability and Ethics, 2019
- The hype of risk-based management control: A phronetic approachRisk Governance and Control: Financial Markets & Institutions, 2019
- The measurement of risk and performance in public organizationsRisk Governance and Control: Financial Markets & Institutions, 2018
- Analysis of the effect of corporate governance attributes on risk management practicesRisk Governance and Control: Financial Markets & Institutions, 2018
- Digitalization impacts on corporate governanceJournal of Governance and Regulation, 2018
- Corporate competitiveness and sustainability risksRisk Governance and Control: Financial Markets & Institutions, 2017
- Enterprise risk management: Factors associated with effective implementationRisk Governance and Control: Financial Markets & Institutions, 2016
- Strategic risk management for enhanced corporate governanceCorporate Ownership and Control, 2016
- The impact of innovation and technology on microfinance sustainable governanceCorporate Ownership and Control, 2014
- Lehman Brothers and Bear Stearns: risk assessment and corporate governance differences?Corporate Ownership and Control, 2013