Artificial intelligence is no longer a future consideration for boards. It is already reshaping how organisations make decisions, manage risk and deliver value. Yet many boards are still grappling with the critical questions, how do we govern AI and how do we govern with AI?
In our recent webinar, Harnessing the Power of AI in the Boardroom, we explored this challenge head on. Hosted by Jacinta Whelan, Partner at Watermark, the session featured Shirley Chowdhary, author and non-executive director, in a timely conversation informed by Shirley’s recent AICD article, “How your board can harness the power of AI.”
Shirley presented her framework which is a practical, governance focused view of AI and its implications for boards and directors. Rather than approaching AI as a technical issue, Shirley frames it as a core strategic responsibility for modern boards.
The framework:
Shirley closed the session with a clear takeaway and a practical item for directors – EDUCATION. Boards need a critical mass of capability to move from discussion to action. Research referenced by Michael Hartman shows that at least three directors need to be “conversational” in AI, able to understand, use and confidently discuss it, to drive meaningful progress.
If your board does not yet have this critical mass, start with education. That begins personally. actively use AI tools, invest in subscriptions and build familiarity through day to day use. Comfort breeds confidence. From there, extend learning to the full board through structured education.
If your board already has this critical mass, the next step is frameworks. Develop clear organisational guardrails for how AI is used across the business, alongside a board level framework for its use in the boardroom itself. This includes determining how open the company and board will be about using AI and setting shared expectations around safe, responsible use.
Finally, start small. Test ideas and learn by doing. Progress does not require perfection but it does require action.
To watch the full recording of the webinar and dive into each of Shirley’s domains on a deeper level, please see video below:
|
If you would like more information on our webinar series, please contact one of the team today.