The Reflection of Artificial Intelligence Technologies on Corporate Governance in the Saudi System

Abstract

This research deals with the use of artificial intelligence techniques in the scope of corporate governance from a systemic point of view, and what it provides in terms of saving time, effort and costs, and speed in disclosure and transparency, as well as allowing stakeholders to access data and records related to the company. The research aims to identify the impact of artificial intelligence technologies on corporate governance, and to clarify the systemic mechanisms of artificial intelligence technologies through which the controls and rules of corporate governance can be developed, whether on the technical side or on the systemic side. Through the research, it was found that the activation of artificial intelligence techniques in the scope of corporate governance finds its legal support in the direction of the Kingdom of Saudi Arabia towards interest in digital transformation and the possibility of activating the principle of disclosure and transparency electronically, and accordingly we find this in the scope of electronic registration of companies and the issuance of licenses, as well as in the scope of trading in the stock market Finance. Accordingly, the researcher calls on the Saudi regulator for the need for systematic intervention in order to adopt a special system for applying artificial intelligence techniques, and then clarify the corporate governance regulation on generalizing digital services related to registering companies, following up the decisions and activities of companies in a digital manner, and allowing electronic inspection of the work of corporate accounts. The researcher proposes to the Saudi regulator to replace digital communication for companies through artificial intelligence techniques and oblige companies to digitally transform their data and documents and make them fully available for viewing in order to apply the principle of disclosure and transparency, which is the basic pillar of corporate governance. The researcher also suggests that the Saudi Authority for Data and Artificial Intelligence should rely on explicit regulatory texts regarding the application of artificial intelligence techniques to corporate governance and adherence to them.