At recent Board development sessions we’ve been asked provide a checklist for Executive and Non Executive Directors to take into the Boardroom as they develop their approach to AI. The six areas below provide a solid start and you can download a pdf here too.
Core questions Boards need to address to take forward their use of AI:
- Does the Board have the knowledge and skills to understand the potential positive and negative impacts of AI on the business? How are you planning to invest in improving the Board’s knowledge and skills?
- Does the Board have a good overview of the data the organisation has access to (internally and externally)? Do you understand the limits on how the data can be used and have you looked at the possible uses of that data in AI applications?
- Are there key business problems that AI could solve? How are your competitors using AI? Could AI fundamentally change your business model? Is AI already in your supply chain? How will you manage and monitor the use of AI outside the business?
- How are the risks which AI may bring being identified and mitigated? Does the Board have oversight of the residual risks? Does the Board have a clear picture of the changing legal and regulatory scene and how that might impact on AI use?
- Has the Board established governance structures and processes to make ethical choices transparently? How will diverse inputs and stakeholder feedback be fed in?
- What implications does increasing use of AI have for your staff? How could it impact on your organisation’s culture? Have you made decisions on recruiting skilled staff versus in-house training? How do you plan to continue to invest in staff skills?
Contact us for more detailed support and advice tailored to your organisation.