Blockchain and AI: The technological revolution’s impact on corporate governance relationships

Download This Article

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

Disorientation and instability characterize the globalized context in which the relations of corporate governance are carried out today. Suffocated by the huge numerical and qualitative dimension of data to be analysed, companies need organizational systems and tools that allow them to interface with this reality. Through the creation of decentralized and more efficient systems able to process information at a higher speed than any human, Blockchain and artificial intelligence are the answer to these renewal requests. This paper aims to analyse the possible implications of the adoption of these technologies within the corporate governance relations, supporting how they can constitute effective and necessary support to the current organizational systems and, at the same time, how they are not yet able to replace them completely. Such a hypothesis would lead to the constitution of information oligarchies, would expose the shareholders to AI’s errors or manipulations by removing any management responsibility and, ultimately, to the creation of autonomous markets driven exclusively by economic purposes of the IT protocols that constitute them.

Keywords: Artificial Intelligence, Corporate Governance, Automated Markets, Blockchain, Smart Contract, Decentralized Autonomous Organizations

JEL Classification: G14, G30, G34, M15

Received: 01.08.2019
Accepted: 12.08.2019

How to cite: Di Prisco, D. (2019). Blockchain and AI: The technological revolution’s impact on corporate governance relationships. In S. Esposito De Falco, F. Alvino, & A. Kostyuk (Eds.), New challenges in corporate governance: Theory and practice (pp. 368-381). https://doi.org/10.22495/ncpr_47