Artificial Intelligence (AI) is no longer a future consideration, it is reshaping industries and redefining how businesses operate today. For organisations to navigate this transformation responsibly and effectively, board members must be fully engaged in AI-driven initiatives.
Why Board Involvement Matters
Board involvement matters because boards play a pivotal role in shaping the strategic, ethical, and governance decisions around AI adoption, the key here being that they understand their role in this process. AI is not a “Gen Z thing.” It is neither enough nor satisfactory to delegate these decisions to management or technical teams. Board members must actively be knowledgeable about AI in order to ask the difficult yet necessary questions that ensure AI is used responsibly and aligns with the organisation’s values and long-term objectives.
Key Questions Every Board Should Be Asking
To move from passive interest to active oversight, boards must pose strategic, probing questions such as:
Transparency
Do we have full visibility into where and how AI is being used across the organisation?
Is there a comprehensive inventory of AI applications?
Who is accountable for AI governance?
Strategy Alignment
Have we defined a clear AI strategy?
How does this strategy align with our overall mission, competitive positioning, and social responsibilities?
Data Privacy & Security
What mechanisms protect the integrity and privacy of data fueling our AI systems?
Regulatory Readiness
Are we tracking and preparing for emerging global AI regulations?
How do we ensure compliance in a landscape where laws are still evolving?
Bias and Ethics
What safeguards exist to detect and mitigate bias in AI models?
How do we define and measure fairness?
These questions are just the starting point, the minimum that must be asked. Beyond this, we cannot underestimate the necessity and criticality of AI knowledge in the boardroom. Discussions and updates on AI should be a standing item at every board meeting to ensure the topic remains top of mind for all members.
The Critical Importance of Al Knowledge in the Boardroom
For directors to effectively govern AI, they must become AI-literate by understanding AI’s capabilities, limitations, and implications. Boards can build this competence by:
Investing in Continuous Education
Engaging in AI-focused learning journeys, certifications, and peer dialogues.Bringing in the Right Experts
Inviting AI ethics and policy advisors into boardroom discussions to offer guidance on responsible adoption.Cross-Sector Benchmarking
Learning from industry peers and leaders about best practices, common pitfalls, and regulatory preparedness.Mandating Regular AI Reviews
Requiring reports with clear metrics on AI performance, use cases, risks, and return on investment.
Bridging the Regulatory Gaps in AI
While AI continues to evolve at a rapid pace, regulation often lags behind. Boards must therefore take a proactive role in championing ethical AI usage, even in the absence of comprehensive legal frameworks. This places increased responsibility on boards to:
Advocate for internal policies and guidelines that anticipate and mitigate potential issues.
Insist on transparency in the organisation’s use of AI.
Stay at the forefront of compliance as global regulations become clearer and more defined.
AI is here to stay. The organisations that will successfully navigate this shift are those that proactively learn to understand and manage, strategically and cohesively, the “being” that is AI.
author
Abiola Bolarinwa
Transformation Consultant
Abiola is a strategic global transformation business leader with over two decades of expertise in
the financial services industry across continents. She is an advocate for Artificial Intelligence (AI)
awareness and usage. A specialist in Corporate Transformation and Payments & Banking
Technology Integration, she has driven transformation initiatives that enhanced business
performance. She is a member of AI for Africa, a think tank geared towards shaping Africa’s
future through Innovation.
