INSTITUTIONAL EYE Boards and AI 30 May, 2024

The journey towards effective oversight of AI, by a board, begins with education. Board members must cultivate a foundational understanding of AI concepts, capabilities, and limitations. This can be achieved through various means, including engaging external expertise, or leveraging internal resources within the management team. Equally important is staying informed about the legal and regulatory landscape surrounding AI.

However, familiarity alone is insufficient. Boards must translate their understanding of AI into actionable strategies within their organisations. This involves fostering collaboration among cross-functional teams comprising business, legal, and technology experts.

Building a robust AI infrastructure requires more than just technological prowess; it demands a foundation of high-quality data. The journey towards AI integration is iterative, and progress must be monitored closely. Quarterly reviews conducted by the board serve as checkpoints and provide opportunities to ensure that AI remains a value-adding proposition for the organisation.

Read our blog: The boards embrace of AI

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