Norway wealth fund urges responsible AI adoption
OSLO, NORWAY — Norway’s $1.4 trillion wealth fund, a leading global stock market investor, advises its 9,200 associated firms to adopt artificial intelligence (AI) responsibly.
Fund CEO Nicolai Tangen said that AI is a significant catalyst for productivity, likening its importance to the internet.
“AI is a huge opportunity for companies and for society, but we need to make sure that it is used in the right way,” he stated.
Tangen remarked that firms overlooking AI “ “would disqualify themselves as being complete morons.”
Meanwhile, Carine Smith Ihenacho, the fund’s chief of governance and compliance, emphasized the need for companies to be transparent about their AI operations. She stressed the importance of human oversight to address concerns arising from AI decisions.
The fund plans to unveil a document this week focusing on consumer interests in AI. Its discussions with businesses will primarily target the healthcare, finance, and tech sectors due to their extensive AI impact on users.
The upcoming document will address proactive AI risk management and underscore the responsibility of major tech corporations like Microsoft, Amazon, Alphabet, and Nvidia.
Smith Ihenacho also commended the self-regulation steps by U.S. tech giants, noting the necessity for more comprehensive regulations and the fund’s proactive role in this domain.
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