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Well worth a weekend read. Scottish Widows Investor Priorities for Responsible AI. With Investor priorities come board priorities, as AI dominates the agenda of governments, organisations and society.
Whilst the board agenda is packed with topics for conversation. AI risk should be the most important topic conversations today, with governments, organisations and society paying close attention to the opportunities AI presents. However alongside opportunities comes a broad suite of threats that create corporate risk, and by extension strategic, operational, financial and investor risk.
AI creates opportunities to transform corporate performance that will benefit growth, multiples and investor returns. It also create extreme risks that go beyond company performance, AI risks transends risk to society through social, economic and security risk. Therefore organisations and investors need to understand the reasonable and responsible use of AI.
An analysis by ISS-Corporate revealed that approximately 15% of
S&P 500 companies disclosed some form of board oversight of AI in their proxy statements – and even fewer, just 1.6%, provide explicit disclosure of full board or committee-level responsibility.
Governance over AI risk management is critical and board oversight and assurance of AI risk is required. Veritas GRC are pleased to be working with Knowledge Nexus and the The Government of Dubai Legal Affairs Department to offer a Board Governance over AI program that will be delivered to General Counsel starting in Dubai. As a team of accomplished governance, education, risk, cyber and AI professionals we are delivering a program that develops the boards understanding of AI; AI Risk; frameworks and standards, and how boards oversight and assure AI risk through an AI management system. Integrated in the 4 pillars of data, cloud, cyber and AI Governance.
Eva Cairns Faisal Khan Brian D. McCarthy @Thaddeus Dziekanowski Sophie Best
#artificialintelligence #boardgovernance
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