The boardroom of the future

Aliesha Staples MInstD lives in the virtual world and even she cannot keep up with how fast it is changing. “I think I know something and then I’m proven wrong a week later,” she says.

For the not-so-tech-savvy director, that should make them want to Google ‘HoloLens’.

While virtual and augmented reality was seen as a “bit of a game” that was going to revolutionise the entertainment world, that is not what has happened, says Staples, the founder and a director of emerging tech consultancy and development company Staples VR, which specialises in augmented reality and virtual reality training.

“That was the original innovation trigger. That’s what the original AR/VR experts were attempting to do. But the byproduct is it’s actually become a very good business tool, being able to train your staff faster, give higher knowledge, help muscle memory, people involved in dangerous tasks and access to equipment.

“It’s definitely matured where it’s now used in the police, the defence force or aviation, or anything that has high-risk jobs and expensive equipment. Part of your training will be done in AR or VR.

“We’re trying to integrate it slowly so it makes sense, whereas a lot of companies are jumping in head first and finding some of the issues that are coming with that.”

Everyone and every organisation is using AR, VR and AI in one way or another – sometimes not even knowing it. Most of the time it is through your mobile or tablet, unless you put a headset on.

Staples has introduced the IoD board, of which she is a member, to the virtual world and is working to perfect a 3D board meeting where you don’t have to leave home. It will help reduce carbon footprints with climate change top of mind.

“Zoom is not great for board meetings, but we’ve proven it is possible and you still get good outcomes. Covid forced us to prove that. But what if you joined in a virtual 3D space and it felt like you were transported to that boardroom, you could interact with other board members but you didn’t leave your home?”

It works like this: Each board member puts on a headset and as long as they are connected to the internet they can be anywhere in the world when they join. In front of them appears a board room. They are sitting at a board table and surrounded by life-like avatars of their fellow board members and company leaders. Meeting guests can join via traditional methods such as Zoom and the board members see this in their virtual world as a large screen with the video stream of the Zoom/Teams call. Your board papers are on a virtual tablet in front of you, including all your notes etc. When you look around the room you see, hear and interact in real time with your fellow board members.

Staples says it makes you feel about 80 per cent there.

“The avatars look realistic. If you are making eye contact with someone in the virtual world the person in the headset really did make that eye contact with you. There’s a little camera in the headset that is scanning the face of the person in the real world so it knows when you blink, when your mouth is moving, when you look at a fellow director. It all mirrors onto your avatar. Everyone can hear your voice. You feel like you are in the room,” she says.

She gives an example of risk reporting, where all the directors are able to see it in 3D. “Instead of just getting a piece of paper that says, ‘this is your risk’, they get 3D animations that happen in front of them. It could be a cyberattack and here is what’s happening in real time. What decisions should you make?”

Staples says it is obviously hyped up, but meeting like this using augmented or virtual technology is coming and directors need to start playing with it now, otherwise they will be left behind. “It’s not the technology that’s the problem, it’s the people using it.”

She admits some directors will delight in not having to travel to board meetings, while others may take more convincing. She is also well aware there are “quite a few people” who are scared of technology and it will take time for them to become comfortable and adapt. That’s more of a human element, she says.

Despite the futuristic fascination, Staples says she would still rather be physically sitting in a room talking to her fellow directors. However, given the option of Zoom or being in a VR room talking, she would choose the latter. “It’s a step further than video calling, but a step behind meeting in person.”

Staples believes two things need to happen from a board member perspective. The same way you must know about your financials, you must know about technologies that are going to disrupt you.

“I think there’s not the same level of consequence personally. If you aren’t reading your finances and you’re trading recklessly, there are immediate consequences. However, if you don’t know what’s about to disrupt your company because you haven’t looked at it and two years later your company doesn’t exist, that’s just as bad. It’s just a different type of consequence.”

Secondly, she encourages boards to bring in subject experts. It could be an innovation expert, someone from the startup world or future technologies.

“It’s different having someone who lives in that world every day standing in front of your board and giving you some examples that are relevant to your company. And for them to say, for example, here it is in layman’s terms, so you now understand it. Having half an hour to think about things other than your board pack needs to happen more often.” 

Aliesha Staples, an IoD board member, was an IoD Future Director in 2019 on the TVNZ board and has since been appointed as a full director. She is also chair of the New Zealand Football Foundation and a director of Antarctic Heritage Trust, Netball New Zealand and Creative Coworking Ltd.