Companies need more AI competency at board level, Norway's wealth fund says

FILE PHOTO: The trading floor of Norges Bank Investment Management, the Nordic country's sovereign wealth fund in Oslo, Norway, June 2, 2017. REUTERS/Ints KalninsARENDAL, Norway : Companies need to do more to get to grips with AI at board level to govern how it is being used and to minimise risks, a top official at Norway's $1.7 trillion sovereign wealth fund, one of the world's largest investors, told Reuters.

A year on, companies generally need to do more, said Carine Smith Ihenacho, the fund's Chief Governance and Compliance Officer. "They should know: 'what's our policy on AI? Are we high risk or low risk? Where does AI meet customers? Are we transparent around it?' It's a big picture question they should be able to answer," she added.

The fund is also paying special attention to Big Tech companies since they develop AI-based products. Nine out of the ten biggest equity holdings in the fund are tech companies, including Microsoft, Apple, Amazon and Meta Platforms. These companies helped drive a 12.5 per cent return on the fund's stock portfolio in the first half of this year.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Japan firms see Harris presidency as better for business than Trump, Reuters survey showsTOKYO: More Japanese companies believe a Kamala Harris presidency in the US would be better for their businesses than a second Donald Trump administration, a Reuters survey showed on Thursday (Aug 15), reflecting the respondents concerns about protectionism and policy unpredictability.
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »

Japan's business sentiment in Aug slips on China's slowdown: Reuters pollTOKYO: Japanese manufacturers turned slightly less confident about business conditions in August and the service sector's mood eased, the monthly Reuters Tankan survey found on Wednesday (Aug 14), as lacklustre demand from China weighed on corporate sentiment.
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »