Trust in corporations and directors duties in the age of information technology and artificial intelligence

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Abstract

Humans have participated in trade for millennia and today there are trillions of dollars invested in many types of business organisations. As the activities of business have become more complex we have unfortunately witnessed a staggering increase in instances of misbehaviour by corporations, through the human actors who manage these vast sums of money.
It seems not a month goes by without there being reports of questionable activities and breaches of law, particularly by financial organisations. Commonly we are seeing misbehaviour where managers are using artificial intelligence (AI) and they blame AI for this. The types of AI used in business ranges from algorithms in smart phones, communication systems, and customer service systems, to on-line sales sites and stock trading. In our current economic climate where AI miscalculates interest payments and overcharges fees it is no stretch to see why a significant proportion of the public do not trust business organisations nor AI which causes individuals loss of jobs and money. In the absence of deliberate criminal conduct these problems tend to go unnoticed.
There is light at the end of the tunnel however as researchers project laptops will match the power of a human brain in the early 2020’s. Organisational management could be replaced by robo-managers with the potential to do a far superior job with humanistic algorithms and access to all organisational information. Trust in business might thus be restored, possibly, within the coming decade.
Original languageEnglish
Pages (from-to)1-16
Number of pages16
JournalSocial Science Research Network
Publication statusPublished - 15 Oct 2021

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