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Author	Dr Pangyue Cheng
Organisation/Institution	The University of Hong Kong, Faculty of Law
Country	HONG KONG (SAR OF CHINA)
Panel	Corporate Law and Governance
Title	Fiduciary Duties in the Age of Big Tech: Rethinking Governance in the Era of Artificial Intelligence
Abstract	The growing influence of Big Tech companies has positioned them as powerful geopolitical actors, with resources and capabilities that rival those of nation-states. Their control over advanced technologies—particularly artificial intelligence (AI)—allows them to shape not only global markets but also public discourse, political decisions, and societal norms. While public and institutional shareholders hold substantial stakes, governance is often concentrated in the hands of founders and insiders, limiting broader accountability and creating new challenges for corporate governance. Traditional fiduciary duties are increasingly inadequate in addressing the risks posed by technologies developed and deployed by Big Tech companies. The rapid evolution of AI introduces systemic risks—such as algorithmic bias, privacy violations, and the erosion of public trust—that extend beyond shareholder interests and can cause significant societal harm. These risks threaten long-term financial stability and create externalities that impact communities, economies, and public welfare. This article argues that directors’ fiduciary duties should be expanded to address these broader societal concerns, particularly those posed by emerging technologies like AI. It suggests that directors act in good faith to mitigate these risks, ensuring decisions account for AI’s long-term societal impact. By examining China’s leading tech giants, the article illustrates how directors can delegate oversight of AI to qualified experts, demand transparency, and integrate these considerations into their fiduciary duties. This paper significantly contributes to corporate governance literature by expanding the scope of fiduciary duties in the context of Big Tech. By incorporating AI risks into directors’ responsibilities, it offers a regulatory solution that balances technological innovation with societal accountability. The paper provides actionable recommendations for aligning corporate governance with the ethical and regulatory demands of the AI era, ensuring that Big Tech companies can innovate while serving the public good.
Biography	Dr. Pangyue Cheng is a Global Academic Fellow at the HKU Law, specializing in corporate law, financial regulation, and AI governance. Her research focuses on institutional stewardship, corporate governance, sustainability, and the regulation of emerging technologies, particularly AI. She examines how shifts in investor roles, technological advancements, and sustainability pressures impact corporate governance and regulatory frameworks. Her research has been published in international law reviews and peer-reviewed journals such as the Columbia Business Law Review and the European Business Law Review. Currently, Dr. Cheng’s research explores the intersection of corporate governance, sustainability, and technological innovation. She studies how institutional investors drive corporate responsibility and long-term value through ESG integration and investigates the legal challenges posed by AI to corporate systems. Dr. Cheng holds a Bachelor of Laws from Beijing Normal University, an LLM in Corporate and Financial Services Law, and a PhD from the National University of Singapore, where her research focused on institutional stewardship in Chinese listed companies. She was a Fox International Fellow at Yale University and has worked on multiple research projects at NUS Law. Prior to academia, she practiced law in mainland China and served as legal counsel for a listed AI company.