“As AI becomes ubiquitous across the economy, it is likely to bring great opportunities, but also severe and uncharted risks,” the Oslo-based fund said in a paper on AI published Tuesday. Companies will need to develop AI expertise at the board level and should be able to explain how systems are designed and trained, the fund said.
The fund returned 10%, or $143 billion, in the first half, it said in a report published Tuesday, ahead of the planned release time.Global regulation will be key to protecting against the risks of AI and for “long-term value creation,” the fund said, and the creation of an international oversight body may provide a “suitable solution.
When it comes to its use within the fund, NBIM’s co-head of equity investments Pedro Furtado Reis said in April that advances in the technology have the potential to bolster efficiency, reduce costs and help portfolio managers better prepare for the thousands of meetings they undertake every year.
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