20
Aug
According to Carine Smith Ihenacho, chief governance and compliance officer of Norway’s $1.7 trillion sovereign wealth fund, boards need to be proficient with the use of AI and take control of its application in businesses to mitigate risks. The Norges Bank Investment Fund, which holds considerable shares in almost 9,000 companies worldwide — accounting for 1.5% of all listed stocks — has become a trailblazer in environmental, social, and corporate governance issues. About a year ago, the fund also provided its invested companies with recommendations on integrating responsible AI to improve economic outcomes. Several companies still have a lot of…