Argentine President Javier Milei has introduced a congressional bill to create ‘non-human corporations’ run by AI. However, the companies would still require human involvement, with a human administrator overseeing operations.

Details of the Proposal

The proposed reform would allow companies to use AI for decision-making, but the administrators would still be responsible for supervising the outcome. The bill also introduces the concept of ‘automated companies,’ which would be required to have a human administrator.

Experts say that while the proposal is innovative, it is not as revolutionary as it seems. The reality is that AI agents would still require human oversight to make decisions. The bill is part of a comprehensive effort to modernize and cut bureaucracy in corporate law.

Reaction and Implications

The proposal has sparked both excitement and criticism. Some experts see it as a bold move, while others warn that giving AI too much power may reduce corporate accountability. The representative for the presidential spokesperson’s office said that the proposal is aimed at making Argentina an attractive jurisdiction for the establishment of automated companies.

The proposal also allows for the creation of decentralized autonomous organizations (DAOs), built on blockchain, enabling members to vote on proposals with digital tokens. However, some experts express concerns about the requirement that token users be identified and registered, which could be a challenge for the blockchain industry.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.