Issues for Boards 2023: Sailing into the wind with digital regulation and ChatGPT

Boards face many challenges as they steer their companies through times of economic, geopolitical and technological change. 

Each year, in our Issues for Boards publication, we offer practical pointers to boards and general counsel on topical questions and actions boards should take. 

In the 2023 edition, we look at how boards of listed companies should prepare to handle an activist investor, and discuss how to draw up a good climate transition plan, the merits of involving investors in “say on climate” votes, and the increasing dangers of being accused of greenwashing.

Regulation is a recurring theme, and we look at the regulatory direction of travel in the UK, new hurdles for European M&A, and the approaching tide of regulation in the digital sphere. A bot did not write this publication, but we do provide you with some insights into the risks and opportunities of ChatGPT and similar AI tools.

The surge of digital regulation in Europe and the UK

The EU and the UK are on track to pass sweeping new regulations or measures to rein in Big Tech and, by the same token, offer greater protection for individuals. This will mean greater obligations for some, but bring new business opportunities for others. Boards will need to consider what the impact these new regulations will have on their business and manage the increasing divergence between the UK and EU digital regulatory environment.

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ChatGPT: seven rules to keep you shipshape

Last year saw “generative” AI tools reach the mainstream. It started with tools such as Dall*E and ended with ChatGPT. While the current iteration of ChatGPT still has its problems, future generations of this and similar technology are likely to be increasingly powerful. It is important that businesses engage with this technology now so they can exploit it as it starts to mature. Having a policy around its use will be needed.

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