AI and Board Within Italian Corporate Law: Preliminary Notes
European Company Law 17(3):87
10 Pages Posted: 3 Mar 2020 Last revised: 29 Sep 2020
Date Written: February 21, 2020
Artificial Intelligence (hereafter: AI) is transforming our everyday life in many important respects. The corporate realm is no exception. Many corporations cannot avoid facing the variety of issues raised by the increasing importance that AI plays within firms. Can an AI-based system be appointed as a board member? Can boards delegate specific tasks to AI-based systems? What are the implications and consequences of AI-involvement when designing the corporate structure? How does the choice to resort to, or to depart from the suggestions of an AI-based system expose, eliminate, or alleviate directorial liability? After a general discussion of AI and its projected use in the corporate context, this article aims to address, in a preliminary fashion, these basic questions within the framework of Italian corporate law.
Keywords: Artificial Intelligence, AI, Algorithms, Corporate Governance, Decision Making, Board of Directors, Directors, Officers, Platform, ILT, Blockchain, FinTech, RegTech, Regulation, Company Law, Business Judgment Rule, Directors' Duties, Director´s Liability
JEL Classification: K10, K11, K20, L10, L20, L50, M14, D23, G38, K22, L22, M15, O16
Suggested Citation: Suggested Citation