Companies need more AI competency at board level, Norway's wealth fund says

"Overall, a lot of competence building needs to be done at board level. ... We need the board to understand, as a group, how AI is being used."

"They should know: 'what's our policy on AI? Are we high risk or low risk? Where does AI meet customers? Are we transparent around it?'"

"Last August, the fund said it is focusing on the use of AI in the healthcare sector because the technology will have an especially strong impact on consumers."

"In those conversations, Smith Ihenacho said the fund is pressing for tech firms to have proper regimes in place to understand the risks posed by AI products."

Read at Reuters