AI resources for boards

Integrating AI into the organisation’s operating model is not just about remaining competitive and staying ahead of the curve. It’s also about laying the groundwork for the next phase of growth for the organisation by ensuring AI is adopted and governed strategically.

This means focusing on ongoing opportunities for application and innovation while managing risks, including cybersecurity risks, among others.  

As AI technologies become increasingly sophisticated, it’s important for boards to be on top of developments and navigate this tech-savvy terrain with strategic foresight and leadership.

Resilience in AI requires the board to proactively engage, and understand the context, as the technology advances to ensure the implementation of comprehensive strategies to mitigate risks, foster innovation and address challenges before they arise.

Key roles for boards include:

• Strategic Risk Management: Understanding the wide-ranging impacts of AI deployment on operational efficiency, employee engagement and competitiveness.
• Adoption of recognised frameworks: Committing to authoritative frameworks and ethical guidelines for AI usage, aligning with industry norms and best practices.  
• Cultivation of an AI-informed culture: Fostering an organisation-wide culture that values AI literacy, innovation (i.e. trying new things and learning from them), ethical decision making and shared responsibility.
• Ecosystem-wide collaboration: Assessing how AI initiatives interact with collaborators, vendors and broader networks to promote cooperative and responsible AI ventures.

We’ve compiled a list of AI resources and relevant links to keep you up to date:

• Understanding AI: a glossary for boards and directors: Developed with the Finance Security Information Exchange, a glossary that demystifies the complex terminology and concepts to support constructive conversations with your board. 
• NACD resources on AI and board governance: Practical guidance for boards from the US National Association of Corporate Directors.
• AI Governance website, AI Forum New Zealand: Thought leadership, resources and tools for the responsible use and implementation of AI within your organisation.