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Guidance for AI governance
A new forum and two new guides will help boards make the most of AI.
Our inaugural Governing AI Forum this week drew more than 170 attendees to discuss the impact the technology will have – and is already having – and the role of the board in AI strategy and oversight.
Waikato University-trained lawyer Ben Gilbert, Microsoft's AI Legal Lead for Asia based in Singapore, summed up AI transformation opportunities for organisations as enriching employee experiences, reinventing customer engagement, reshaping business processes and bending the curve on innovation.
“You don’t need to be an expert to start getting real benefits out of [AI],”
- Gilbert told attendees at the Hilton hotel on Auckland’s waterfront.
Frith Tweedie, Principal Consultant at Simply Privacy – where she helps clients develop good privacy and Responsible AI practices – said the board’s role in governing AI was to set strategic direction, risk management, oversight and culture, promoting accountability and stakeholder engagement.
Other headline speakers included: Jenni Rutter MInstD from Dentons outlining the rules around AI and intellectual property; a director panel comprising Nicole Buisson CMInstD, Chris Day CMInstD and Monique Forbes CMInstD sharing how they are integrating AI into their organisations; and ASB board member Vic Crone explaining how AI can assist directors in the boardroom.
Hot on the heels of the forum, we have released two new resources to help boards understand AI and capitalise on the opportunities it presents.
We are on the verge of a profound technological shift. From global markets to everyday life, AI is proving itself to not just be a fleeting trend but a transformative wave offering unprecedented opportunities.
These two resources will help boards understand AI as a defining force and harness it on behalf of their organisations. The advent of generative AI has significantly accelerated the pace of change. Recent advances underscore AI's potential to drive efficiency, innovation and strategic growth.
A Director’s Guide to AI Board Governance presents nine principles to guide boards’ oversight of AI in their organisations:
- Take action from a strategic perspective
- Seize the opportunities
- Categorise and address the risks
- Build board capability
- Select the right board structure
- Oversee AI use and data governance
- Look after your people
- Proactively build trust
- Embrace AI as part of your governance practice
Directors and boards need to fully grasp the magnitude of this change. It’s a major shift that promises to reshape industries, alter business practices and affect every aspect of our connected world.
Governing in an AI world is a reader that was created for our first AI Forum and is available exclusively to IoD members.
It is structured into two parts. The first, AI 101, aims to bring new participants up to speed with the basics of AI. The second contains a selection of thought-provoking articles that provide insights into the current state and evolution of AI.
Key themes include the strategic use of AI, balancing risk and innovation, the importance of responsible AI practices and the potential for AI to revolutionise various sectors.
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Download A Director’s Guide to AI Board Governance here:
Exclusively for IoD members – click below to download the Governing in an AI world reader. You will be prompted to log in before accessing a downloadable PDF.
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