Eco-Business: AI's Societal Risks Make Governance a Business-Wide Challenge
- 5 hours ago
- 2 min read
As featured in Eco-Business, June 24, 2026
AI governance is no longer a technology department problem. It's a boardroom imperative — and most companies aren't treating it that way.
That's the view Steve Okun, Founder and CEO of APAC Advisors, shared in a recent Eco-Business feature on AI's mounting societal risks in Singapore. His core argument: the risks AI brings cut across every geography, sector, and stakeholder group, and nearly every business now plays a role in shaping its impact.
The piece focuses on what Okun calls the "Responsible AI Trilemma" — three interconnected pressures that leaders can no longer afford to ignore: environmental footprint, workforce disruption, and inequality.
On workforce displacement, Okun pushes back on the comfortable assumption that automation mainly threatens low-skilled roles. AI is increasingly disrupting white-collar and knowledge-based work — and the benefits that do emerge are likely to concentrate among those already ahead. "AI is often framed as the great equaliser," he said. "The reality is the opposite. Without deliberate action, AI's gains flow to those already ahead, widening Singapore's divides rather than closing them."
On governance, Okun welcomed Singapore's policy efforts but argued they don't go far enough. SkillsFuture and voluntary frameworks are a start — but the responsibility cannot fall on workers alone. "Singapore's response will fall short unless businesses and investors step up too."
His call to action for corporate leaders is clear: treat AI risk the same way you treat climate risk. Stress-test your business model. Plan for a future where access to AI is scarce, expensive, or constrained by regulation. "AI access may not always be unlimited as risks mount," he said. "Companies need to stress-test their plans to ensure business continuity.
