New Challenges and Opportunities in Corporate Governance with Emphasis on Artificial Intelligence and Ethics in Business

Abstract

The present study aimed to investigate the new challenges and opportunities in corporate governance with an emphasis on artificial intelligence and business ethics. It is a mixed study (the qualitative part includes the meta-synthesis and theme analysis, and the quantitative part includes the t-test). In terms of the objective, it is cross-sectional applied-developmental research. The research field to determine the indicators includes all scientific articles and documents relevant to the research subject in the 2015-2024 period. The research population for the semi-structured part includes the academic experts among whom 12 were chosen as the samples using the snowball sampling method until the theoretical saturation is reached. The meta-synthesis of the related literature revealed that 35 primary concepts in 4 categories can be identified. Also, based on the interviews with experts, 43 components were extracted in the form of 11 factors. Through combining and modifying these two parts, 66 primary concepts (elements) and 11 main themes were identified and determined as new challenges and opportunities in corporate governance with an emphasis on artificial intelligence and ethics in business ethics. Therefore, it can be concluded that artificial intelligence provides firms with unparalleled opportunities, although it creates complex challenges. To optimally exploit this technology and create an ethical workspace, the firms should consider the technical, social, and cultural challenges simultaneously, and utilize the existing opportunities to strengthen their position in the market and improve their performance.