The Perennial Quest for Board Independence - Artificial Intelligence to the Rescue?

Abstract

This article argues that AI, if used correctly, has the potential to help boards overcome groupthink and also to efficiently process a range of information in limited time. More specifically, AI might hold the potential to improve board independence. The model proposed in this article is for AI to help boards by complementing rather than replacing human directors, as an initial step. The model will draw from an analysis of the duties of directors, the experience of cancer specialists using AI, and from considerations of AI governance. The article also identifies areas of future research as AI becomes more sophisticated.

Keywords: artificial intelligence, corporate governance, board independence