Argentina to become world’s first country to introduce ‘AI-Automated’ company

Argentina is planning to launch a fully AI-Automated company, as the first country to initiate that concept

President Javier Milei last month announced a congressional bill to create “non-human corporations” run by Artificial Intelligence

Milei described in a Financial Times op-ed piece a new type of company that could run without human employees, in which AI agents or robots would “exercise independent judgment ‌in unpredictable environments.”

“We are open for business,” Milei declared, sparking criticism from tech experts who warned giving AI too much power may reduce corporate accountability

The “automated company” introduced in the proposed reform, part of a comprehensive bill seeking to modernize and cut bureaucracy in corporate law, would be required to have a human administrator to oversee operations

The bill also allows a company’s administration to use AI for decision-making without exempting the administrators from supervising the outcome

The company would be liable for damages caused by AI or algorithmic systems, the bill states

A representative for the office of the presidential spokesperson said that there are currently no companies or commitments of investment that are connected to the bill

Legal experts said, Argentina would become the first country to pass legislation creating a category for companies that fully run by Artificial Intelligence

Milei, who has brought inflation down sharply and sought to attract foreign investors with incentives, has repeatedly pitched Argentina as a future AI hub

Reuters reports, the idea of “AI-run companies” is attracting attention because it promises to automate many business functions

However, if Argentina is exploring legal or regulatory frameworks that recognize companies with AI handling much of their operations, it still runs into a fundamental reality as companies exist within human legal and social systems

Share this story:

Source: www.thenews.com.pk