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

Coovadia Husain; Marx Benjamin; Ilse Botha

doi:10.1007/978-3-031-46177-4_15

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

Coovadia Husain, Marx Benjamin, Ilse Botha

Accountancy

University of Johannesburg

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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.

Original language	English
Title of host publication	Towards Digitally Transforming Accounting and Business Processes - Proceedings of the International Conference of Accounting and Business iCAB, Johannesburg 2023
Editors	Tankiso Moloi, Babu George
Publisher	Springer Nature
Pages	265-283
Number of pages	19
ISBN (Print)	9783031461767
DOIs	https://doi.org/10.1007/978-3-031-46177-4_15
Publication status	Published - 2024
Event	International Conference of Accounting and Business, iCAB 2023 - Johannesburg, South Africa Duration: 29 Jun 2023 → 30 Jun 2023

Publication series

Name	Springer Proceedings in Business and Economics
ISSN (Print)	2198-7246
ISSN (Electronic)	2198-7254

Conference

Conference	International Conference of Accounting and Business, iCAB 2023
Country/Territory	South Africa
City	Johannesburg
Period	29/06/23 → 30/06/23

Keywords

AI
AI Governance
Corporate Governance
Machine learning
Natural language processing

ASJC Scopus subject areas

General Business,Management and Accounting
General Economics,Econometrics and Finance

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1007/978-3-031-46177-4_15

Cite this

Husain, C., Benjamin, M., & Botha, I. (2024). Identifying AI Corporate Governance Principles That Should Be Prevalent in a Governance Framework for Business. In T. Moloi, & B. George (Eds.), Towards Digitally Transforming Accounting and Business Processes - Proceedings of the International Conference of Accounting and Business iCAB, Johannesburg 2023 (pp. 265-283). (Springer Proceedings in Business and Economics). Springer Nature. https://doi.org/10.1007/978-3-031-46177-4_15

Husain, Coovadia ; Benjamin, Marx ; Botha, Ilse. / Identifying AI Corporate Governance Principles That Should Be Prevalent in a Governance Framework for Business. Towards Digitally Transforming Accounting and Business Processes - Proceedings of the International Conference of Accounting and Business iCAB, Johannesburg 2023. editor / Tankiso Moloi ; Babu George. Springer Nature, 2024. pp. 265-283 (Springer Proceedings in Business and Economics).

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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.",

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Husain, C, Benjamin, M & Botha, I 2024, Identifying AI Corporate Governance Principles That Should Be Prevalent in a Governance Framework for Business. in T Moloi & B George (eds), Towards Digitally Transforming Accounting and Business Processes - Proceedings of the International Conference of Accounting and Business iCAB, Johannesburg 2023. Springer Proceedings in Business and Economics, Springer Nature, pp. 265-283, International Conference of Accounting and Business, iCAB 2023, Johannesburg, South Africa, 29/06/23. https://doi.org/10.1007/978-3-031-46177-4_15

Identifying AI Corporate Governance Principles That Should Be Prevalent in a Governance Framework for Business. / Husain, Coovadia; Benjamin, Marx; Botha, Ilse.
Towards Digitally Transforming Accounting and Business Processes - Proceedings of the International Conference of Accounting and Business iCAB, Johannesburg 2023. ed. / Tankiso Moloi; Babu George. Springer Nature, 2024. p. 265-283 (Springer Proceedings in Business and Economics).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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AB - 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.

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Husain C, Benjamin M, Botha I. Identifying AI Corporate Governance Principles That Should Be Prevalent in a Governance Framework for Business. In Moloi T, George B, editors, Towards Digitally Transforming Accounting and Business Processes - Proceedings of the International Conference of Accounting and Business iCAB, Johannesburg 2023. Springer Nature. 2024. p. 265-283. (Springer Proceedings in Business and Economics). doi: 10.1007/978-3-031-46177-4_15

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

Abstract

Publication series

Conference

Keywords

ASJC Scopus subject areas

UN SDGs

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