The Norwegian Oil Fund sets the requirements for companies with regard to artificial intelligence – E24

Oljefondet’s chairman, Nicolai Tangen, is demanding transparency and risk management from artificial intelligence (AI) technology companies.

Tangen believes that the technology companies owned by the oil fund should develop and use artificial intelligence in a way that promotes responsible growth and innovation. In an article in Dagens Næringsliv, he lists three requirements that the Oil Fund places on companies working with the technology.

First, Tangen requires that corporate boards be competent to ensure value creation through the use of AI is balanced with necessary risk management.

A clear tone from the top is also essential to building a culture of responsible AI internally in companies, Tangen writes.

His second requirement is that companies must be able to explain to the outside world the AI ​​systems they develop and use.

Third, companies must have robust processes in place to identify and manage risks related to AI.

Even with good internal risk management processes in place, Tangen believes it is also important for authorities to regulate AI.