Governance of Corporate Use of Artificial Intelligence

This article is a research report that discusses the governance of corporate use of artificial intelligence (AI) and the lessons learned from historical experiences with novel technologies. It emphasizes the importance of applying these lessons to ensure that the benefits of AI development outweigh its potential harms. The report outlines two key areas of focus: external regulation of corporations utilizing AI and internal governance practices within these corporations. It highlights the need for robust external regulations, such as the EU's Artificial Intelligence Act, to mitigate risks associated with AI while promoting innovation. Furthermore, the report stresses that historical precedents of corporate misuse of technology should inform current regulatory approaches to prevent similar issues with AI. It calls for a framework that encourages ethical practices and accountability in the corporate sector, ensuring that AI serves to enhance human welfare rather than undermine it.