Corporate Social Responsibility and AI Governance
Companies initially served public interests rather than profits. However, companies nowadays tend to abide by shareholders than consider other stakeholders. For example, a mining company that exploits a mining area may conduct necessary actions to keep doing their business operations to obtain profit for shareholders’ financial benefit, regardless of the negative outcomes on the environment or people around the mining area. This behaviour is also seen in the artificial intelligence (AI) industry. The reluctance of some AI companies to avoid regulatory compliance or governance shows that a profit perspective still exists in this industry amidst public concern over AI as a potentially harmful technology. Therefore, a better governance concept is needed to direct AI Companies to a more responsible company.
Corporate Social Responsibility (CSR) is a governance concept that directs companies to operate responsibly, considering other stakeholders who may interact with them. CSR is beneficial for supporting the proliferation of AI Ethics or AI Governance because it balances profit and non-profit goals in companies.