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The fund is trying to use its heft — it owns on average about 1.5% of every listed company worldwide — to improve all its investments’ use of AI by focusing on three areas: 1) ensuring boards are accountable for the responsible development and use of AI. 2) transparency of how companies use AI and 3) ensuring outside verification and auditing of their AI systems.
Instead, the fund is trying to use its heft — it owns on average about 1.5 per cent of every listed company worldwide — to improve all its investments’ use of AI by focusing on three areas. The first is ensuring boards are accountable for the responsible development and use of AI. Here, Tangen is damning. “Boards are absolutely not on top of this,” he says. Given how many companies have long struggled to get enough expertise on cyber security, AI is likely to be an even tougher ask. The oil fund could vote against those that do nothing, Tangen adds. The second relates to how transparent companies are on how they use AI and how they explain how those systems have been designed and tested.
https://www.ft.com/content/52df2867-c955-4389-84c6-33c091e9c1dd
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