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Identifying AI Corporate Governance Principles That Should Be Prevalent in a Governance Framework for Business

In: Towards Digitally Transforming Accounting and Business Processes

Author

Listed:
  • Coovadia Husain

    (University of Johannesburg)

  • Marx Benjamin

    (University of Johannesburg)

  • Ilse Botha

    (University of Johannesburg)

Abstract

Artificial Intelligence (AI) is widely used in business to increase productivity and harness the benefits that could emerge from is use. However, with the increased use of AI in business there are number of risks that are brought to the fore. The task would be to develop sound AI corporate governance principles to reduce the AI risk. To the extent of literature search research in AI and corporate governance does not position AI principles that need to be included in any AI corporate governance framework from a South African perspective. Given the importance of AI corporate governance AI governance principles will be identified to be included in an AI governance framework. Through a documentary analysis of literature this study identifies eight broad themes with various corporate governance principles that need to be prevalent in an AI governance framework for South Africa. These eight broad themes include (1) Principle concerns, (2) Procedural governance mechanisms, (3) Overarching ethical concerns, (4) Reasons for creating AI governance frameworks, (5) AI applications and technology layer, (6) AI law regulation, (7) AI Society, (8) AI regulation and process layer. It is essential that business start considering these themes when developing an AI governance framework that will be implemented in business.

Suggested Citation

  • Coovadia Husain & Marx Benjamin & Ilse Botha, 2024. "Identifying AI Corporate Governance Principles That Should Be Prevalent in a Governance Framework for Business," Springer Proceedings in Business and Economics, in: Tankiso Moloi & Babu George (ed.), Towards Digitally Transforming Accounting and Business Processes, pages 265-283, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-46177-4_15
    DOI: 10.1007/978-3-031-46177-4_15
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