Governance of artificial intelligence: public policy and self-regulatory frameworks for consequential decision-making

Abstract

Key take aways: The promise and the peril of using artificial intelligence (AI) suggest that organizations can reap the benefits of AI through not only risk avoidance but also value creation. Stakeholder wellbeing and the quality of decision-making at organizations may be improved through the governance of AI. While public policies for regulating AI in decision-making are new and changing, organizations can develop self-regulatory frameworks for designing AI governance to build eminence and create value that meets ethical principles extending beyond regulatory requirements.