The Role of Technology in Enhancing Corporate Governance

“Using technology to encourage productivity and long-term competitive advantage is known as digitalization. All agree that accountability, openness, and people are the cornerstones of corporate governance. How has the digital revolution affected corporate governance, specifically with regard to the potential impact of big data and artificial intelligence on it? This assertion is bolstered by the identification of five key factors that influence the current power dynamics within corporate organizations: (i) decision-making speed and frequency; (ii) decision-making information and access; (iii) decision-making costs.(iv) the decision-makers’ incentives and interests; and (v) their proficiency and abilities. The crucial, but as of yet unstudied, analytical method to precisely forecast the influence of technology on corporate governance is to consider if and how these five aspects are changed by technological innovation. Our research aims to investigate how corporate governance is affected by digitization. In addition, to determine the connected causes and hazards and to see if the benefits exceed the consequences.