Sias continues upholding corporate governance …

Sias continues upholding corporate governance despite AI disruption : David Gerald

David Gerald, CEO of the Securities Investors Association (Singapore), emphasized the importance of traditional investment principles amidst the rise of AI in trading. While AI tools offer faster and cheaper trading, Gerald stressed that investors must still conduct thorough research and understand their investments. Sias will continue to monitor companies and rate them for corporate governance. The annual Corporate Governance Week, which includes a key conference, forums, and the Investors’ Choice Awards, concluded on Thursday. Sias has been sending listed companies questions annually to improve corporate transparency and engagement. These questions focus on corporate strategy, financial performance, and governance. Gerald highlighted the improvement in companies strategy and governance disclosure, with Singapore corporate governance scores reaching 62.4% in 2024. However, mid- and small-cap firms still lack external assurance and need to consider measures to improve their sustainability disclosures. The key conference discussed the impact of AI on corporate governance and sustainability. Panelists acknowledged AI s potential to enhance decision-making and reduce toil but emphasized the need for the human element in AI investment decisions. Dr Roger Barker, director of policy and corporate governance at the UK’s Institute of Directors, noted that AI-driven tools have enhanced transparency, decision-making, and risk management processes. However, ethical AI governance and fairness and accountability in utilizing such technology remain crucial. The event also marked the soft launch of a new book detailing how Sias tackled Singapore s biggest financial scandals and protected shareholders. The book, edited by Aaron Low, features contributions from six other writers. Overall, while AI presents unprecedented opportunities, traditional investment principles and the human element remain essential in ensuring robust corporate governance and sustainability disclosures. Sias will continue to play a vital role in monitoring and evaluating companies in Singapore s financial market ecosystem.

Source: businesstimes.com.sg
Published on 2024-09-16

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