Norway’s Sovereign Wealth Fund CEO Calls for AI Regulation – Reports

Norway’s sovereign wealth fund CEO Nicolai Tangen has urged governments to speed up the regulation of artificial intelligence (AI), according to a report by Financial Times.

The $1.4-trillion wealth fund, which is the world’s largest, is set to reveal guidelines in August on how the companies it invests in should use AI ethically.

iexclusivenews reports that the Government Pension Fund Global operates under ethical guidelines. Set by parliament and excludes investments in companies that do not respect the guidelines.

Norges Bank, the country’s central bank, holds stakes in more than 9,200 companies globally through the wealth fund.

The fund owns about 1.5% of all globally listed shares and is a big investor in tech companies including Apple Inc (AAPL.O).

Alphabet Inc (GOOGL.O), Nvidia Corp (NVDA.O) and Microsoft Corp (MSFT.O). Which are all gearing up to deploy AI to transform their businesses.

The fund will also consider using AI to help with proxy voting on “tens of thousands of motions” at next year’s annual shareholder meetings.