Written question asked by Lord Taylor of Warwick (Non-affiliated) on Tuesday, 16 June 2026, in the House of Lords. It was due for an answer on Tuesday, 30 June 2026. It was answered by Lord Leong (Labour) on Monday, 22 June 2026 on behalf of the Department for Business and Trade.

Business: Artificial Intelligence

Question: To ask His Majesty's Government what assessment they have made of the implications of the use of artificial intelligence in corporate decision-making for business accountability and governance.

Answer: The Government and the Financial Reporting Council (FRC) have over the past two years published guidance and tools to help companies manage responsibly the risks and opportunities of using artificial intelligence (AI) in corporate decision-making. These include a Code of Practice specifically covering the cyber security of AI, and a Cyber Governance Code of Practice addressing the broader issue of integrating cyber risk management into wider enterprise risk management. The FRC has also recently published guidance for audit firms on the use of AI in audit. The Government and regulators continue to assess the uses of AI in business and more generally.

Secondary information