The company is also considering other changes such as establishing specific rules for board composition and succession planning, introducing or expanding policies governing directors' communications or conflicts of interests, and improving its public disclosures. OpenAI's mission is to develop AI technology that could potentially affect nearly every job in the world, making its governance structure crucial in determining who benefits and who suffers from the rollout of its AI technologies.
Key takeaways:
- OpenAI is considering changes to its corporate structure, including the possibility of introducing a second board, to balance its founding mission with its for-profit pursuit of returns for investors.
- The company's new board chair, Bret Taylor, said they are committed to a governance structure that takes all stakeholders into account and are working to develop an expanded board with diverse experiences.
- OpenAI's governance structure is more complex than other similar organizations due to its need to serve its overall mission of helping humanity while also satisfying investors, including Microsoft, which has committed $13 billion to the company.
- OpenAI could strengthen its governance by establishing specific rules for its board composition and succession planning, introducing or expanding policies governing directors' communications or conflicts of interests, and improving its public disclosures.