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Robots in the Boardroom: Artificial Intelligence and Corporate Law

Year 2021, Volume: 79 Issue: 2, 699 - 728, 29.07.2021
https://doi.org/10.26650/mecmua.2021.79.2.0004

Abstract

Due to its rapid technological development, artificial intelligence will enter corporate boardrooms in the very near future. This chapter explores the interplay between artificial intelligence and corporate law, and analyzes how the two fit together. Do current corporate law rules match the challenges posed by artificial intelligence, or do they need to be adapted? More specifically, the chapter focuses on the directors of corporations. We consider the extent to which human directors should be allowed—or required—to rely on artificial intelligence. Moreover, technology will probably soon offer the possibility of artificial intelligence not only supporting directors, but even replacing them. Another question is therefore whether or not such a replacement is legally admissible. At any rate, the legal strategies currently adopted by corporate law are tailored to human directors. This chapter tests whether those strategies would still be suitable for boardrooms filled with robo-directors. It concludes that corporate law is highly relevant for the use of artificial intelligence in corporations, but that it will also need to be adapted to the challenges posed by this technology. In that sense, the interplay between artificial intelligence and corporate law promises to be dynamic in both directions.

References

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Yönetim Kurulu Toplantı Odasındaki Robotlar: Yapay Zeka ve Şirketler Hukuku

Year 2021, Volume: 79 Issue: 2, 699 - 728, 29.07.2021
https://doi.org/10.26650/mecmua.2021.79.2.0004

Abstract

Yapay zeka, hızlı teknolojik gelişimi sayesinde çok yakın bir gelecekte şirket yönetim kurulu odalarına girecektir. Bu çalışma yapay zeka ve şirketler hukuku arasındaki etkileşimi araştırmakta ve birbirlerine nasıl uyum sağlayacaklarını analiz etmektedir. Mevcut şirketler hukuku düzenlemeleri yapay zekanın getirdiği zorlukları karşılamakta mıdır, yoksa düzenlemelerin uyarlanması mı gerekmektedir? Daha belirgin olarak, bu çalışma şirketlerin yöneticilerine odaklanmaktadır. İnsan yöneticilerin yapay zekaya güvenmelerine ne ölçüde izin verilmesi gerektiği ya da buna ne ölçüye kadar zorlanabilecekleri dikkate alınmıştır. Dahası teknoloji, yakında yapay zekanın sadece yöneticileri desteklemekle kalmayıp onların yerini almasını da sağlayacaktır. Bu sebeple bir diğer soru, bu tür bir yerini almanın yasal olarak kabul edilebilir olup olmadığıdır. Her halükarda, halihazırda şirketler hukuku tarafından benimsenen yasal stratejiler insan yöneticilere göre tasarlanmıştır. Bu bölüm, bu stratejilerin robo-yöneticilerle dolu yönetim kurulu odaları için de hala uygun olup olmadığını sınamaktadır. Bu çalışmada, şirketler hukukunun, yapay zekanın şirketlerde kullanımıyla son derece alakalı olduğu, ancak bu teknolojinin getirdiği zorluklara da uyarlanması gerekeceği sonucuna varılmaktadır. Bu anlamda yapay zeka ve şirketler hukuku arasındaki etkileşim her iki yönde de dinamik olmayı vaat etmektedir.

References

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  • Gehrlein M, ‘Leitung einer juristischen Person durch juristische Personen?’ (2016) Neue Zeitschrift für Gesellschaftsrecht (NZG) 566-568.
  • Gevurtz F, Corporation Law (2nd edn, West Publishing 2010).
  • Granelli C, ‘La responsabilità civile degli organi di gestione alla luce della riforma delle società di capitali’ (2003) Le Società 1565-1571.
  • Grass A, Business Judgment Rule (Schulthess 1998).
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  • Hallevy G, Liability for Crimes Involving Artificial Intelligence Systems (Springer 2014).
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  • Hansmann H and Kraakman R, ‘The Essential Role of Organizational Law’ (2000) 110(3) Yale Law Journal, 387-440.
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  • Harari Y, Homo Deus: A Brief History of Tomorrow (Random House 2016).28
  • Hassanien AE et al (eds), Big Data in Complex Systems: Challenges and Opportunities (Springer 2015).
  • Herzel L and Katz L, ‘Smith v. Van Gorkom: The Business of Judging Business Judgment’ (1986) 41(4) The Business Lawyer, 1187-1193.
  • Hilb M, ‘Toward an Integrated Framework for Governance of Digitalization’, in id (Ed), Governance of Digitalization (2017) 11-20.
  • Jain L and Martin N, (eds), Fusion of Neural Networks, Fuzzy Sets and Genetic Algorithms (CRC Press 1999).
  • Jain L and Wilde PD (eds), Practical Applications of Computational Intelligence Techniques (Springer 2001).
  • Jensen M and Meckling W, ‘Theory of the Firm: Managerial behavior, agency costs and ownership structure’ (1976) 3(4) Journal of Financial Economics, 305-360.
  • Kammerer A, Die unübertragbaren und unentziehbaren Kernkompetenzen des Verwaltungsrates (Schulthess 1997).
  • Kaplan J, Artificial Intelligence (Oxford University Press 2016).
  • Kenshaw D, Company Law in Context (Oxford University Press 2012).
  • Knapp V, ‘What are the issues relating to digitalisation in company law?’ (June 2016) <http://www. europarl.europa.eu/RegData/etudes/IDAN/2016/556961/IPOL_IDA(2016)556961_EN.pdf >
  • Knepper W and Bailey D, Liability of Corporate Officers and Directors (7th edn, Lexis 2002).
  • Kudyba S, Big Data, Mining, and Analytics – Components of Strategic Decision Making (CRC Press 2014).
  • Kühn R and Grünig R, Successful Decision-making: A Systematic Approach to Complex Problems (2nd edn, Springer 2009).
  • Lessig L, ‘The Law of the Horse: What Cyberlaw What Might Teach’ (1999)113 Harvard Law Review, 501-546.
  • LoPucki L, ‘Algorithmic Entities’ (2018) 95 Washington University Law Review, 887-953.
  • Macey J, ‘Smith v. Van Gorkom: Insights About C.E.O.s, Corporate Law Rules, and the Jurisdictional Competition for Corporate Charter’ (2002) 96(2) Northwestern University Law Review, 607-630.
  • Manne H, ‘Our Two Corporation Systems: Law and Economics’ (1967) 53(2) Virginia Law Review, 259-284.
  • Manning B, ‘Reflections and Practical Tips on Life in the Boardroom after Van Gorkom’ (1985) 41(1) The Business Lawyer, 1-14.
  • Mäntysaari P, Comparative Corporate Governance (Springer 2005).
  • McCarthy J, Minsky M, Rochester N and Shannon C, ‘A Proposal for the Dartmouth Summer Research Project on Artificial Intelligence’ ( 1955) < http://www-formal.stanford.edu/jmc/ history/dartmouth/dartmouth.html >
  • Möslein F, Grenzen unternehmerischer Leitungsmacht im marktoffenen Verband (De Gruyter 2007).
  • Möslein F and Lordt A, ‘Rechtsfragen des Robo Advice’ (2017) Zeitschrift für Wirtschaftsrecht (ZIP) 793-803.
  • Müller R, ‘Digitalization Decisions at Board Level’, Michael Hilb (ed), Governance of Digitization (Haupt 2017) 43-50.
  • Noyes J, Cook M and Masakowski Y (eds), Decision Making in Complex Environments (CRC Press 2007).29
  • Paolini A (ed), Research Handbook on Directors’ Duties (Edward Elgar Publishing 2014).
  • Peters K, ‘Angemessene Informationsbasis als Voraussetzung pflichtgemäßen Vorstandshandelns’ (2010) Die Aktiengesellschaft (AG) 811-817.
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There are 92 citations in total.

Details

Primary Language Turkish
Subjects Law in Context
Journal Section Translation
Authors

Florian Möslein This is me 0000-0002-6733-6102

Translators

Sevda Bora Çınar

Publication Date July 29, 2021
Published in Issue Year 2021 Volume: 79 Issue: 2

Cite

APA Möslein, F. (2021). Yönetim Kurulu Toplantı Odasındaki Robotlar: Yapay Zeka ve Şirketler Hukuku (S. Bora Çınar, Trans.). İstanbul Hukuk Mecmuası, 79(2), 699-728. https://doi.org/10.26650/mecmua.2021.79.2.0004
AMA Möslein F. Yönetim Kurulu Toplantı Odasındaki Robotlar: Yapay Zeka ve Şirketler Hukuku. İstanbul Hukuk Mecmuası. July 2021;79(2):699-728. doi:10.26650/mecmua.2021.79.2.0004
Chicago Möslein, Florian. “Yönetim Kurulu Toplantı Odasındaki Robotlar: Yapay Zeka Ve Şirketler Hukuku”. Translated by Sevda Bora Çınar. İstanbul Hukuk Mecmuası 79, no. 2 (July 2021): 699-728. https://doi.org/10.26650/mecmua.2021.79.2.0004.
EndNote Möslein F (July 1, 2021) Yönetim Kurulu Toplantı Odasındaki Robotlar: Yapay Zeka ve Şirketler Hukuku. İstanbul Hukuk Mecmuası 79 2 699–728.
IEEE F. Möslein, “Yönetim Kurulu Toplantı Odasındaki Robotlar: Yapay Zeka ve Şirketler Hukuku”, İstanbul Hukuk Mecmuası, vol. 79, no. 2, pp. 699–728, 2021, doi: 10.26650/mecmua.2021.79.2.0004.
ISNAD Möslein, Florian. “Yönetim Kurulu Toplantı Odasındaki Robotlar: Yapay Zeka Ve Şirketler Hukuku”. İstanbul Hukuk Mecmuası. Sevda Bora ÇınarTrans 79/2 (July 2021), 699-728. https://doi.org/10.26650/mecmua.2021.79.2.0004.
JAMA Möslein F. Yönetim Kurulu Toplantı Odasındaki Robotlar: Yapay Zeka ve Şirketler Hukuku. İstanbul Hukuk Mecmuası. 2021;79:699–728.
MLA Möslein, Florian. “Yönetim Kurulu Toplantı Odasındaki Robotlar: Yapay Zeka Ve Şirketler Hukuku”. İstanbul Hukuk Mecmuası, translated by Sevda Bora Çınar, vol. 79, no. 2, 2021, pp. 699-28, doi:10.26650/mecmua.2021.79.2.0004.
Vancouver Möslein F. Yönetim Kurulu Toplantı Odasındaki Robotlar: Yapay Zeka ve Şirketler Hukuku. İstanbul Hukuk Mecmuası. 2021;79(2):699-728.