A Director’s Road Map for Effective AI Implementation Download Almost every organisation around the world is trying to figure out what artificial intelligence (AI) offers and how to deploy it to move the business forward. A road map can help directors engage more effectively in these strategic conversations. With the emergence of generative AI (GenAI), organisations all over the globe are taking a close look at the tremendous promise AI offers in transforming various functions and activities — from the customer experience to cybersecurity to back-office functions in accounting and finance. AI is not only inspiring conversations on reimagining how the business operates, it is driving big bets by business leaders.Thousands of Protiviti conversations with clients and hundreds of workshops and solutioning sessions have identified common questions being asked by many companies, notably:What constitutes “AI,” and what does it mean for our business?How can we determine the best use cases for applying it?How can we have confidence in the solutions we identify and their outputs?How do we stay abreast of the rapidly changing environment, both from a legal and regulatory standpoint, and from developments in the technology itself? Download Often, client discussions attempt to address three objectives:Identify how to maximise the value contributed by AI.Strike the appropriate balance between AI innovation and risk management through multidisciplinary, cross-functional teams.Make informed capital deployment decisions on where to begin and how to move forward responsibly with AI.This issue of Board Perspectives discusses the broad categories of AI, a framework for approaching AI in a structured manner, and the importance of boards positioning themselves to advise the CEO and management team as the company leverages this revolutionary solution to foster innovation and unlock enterprise value — both strategically and responsibly — for the future of the business and its workforce. It also offers suggested starter questions that directors can use to initiate a strategic discussion with management on responsible AI deployment.(Board Perspectives — Issue 181)Listen to our Board's Perspectives podcasts, which provide practical insights and guidance for new and experienced board members alike. We want to hear from you!What topics would you like to read about in the coming months?Let us know Topics Board Matters Risk Management and Regulatory Compliance Data, Analytics and Business Intelligence Related Resources: Enabling Enterprise AI Adoption Through Next-Generation Governance Artificial intelligence (AI) has become increasingly important in the enterprise, thanks in part to the rise of generative AI (GenAI). While not a new technology or concept, AI (including machine learning) holds tremendous promise to transform various business functions and activities worldwide — from accounting and finance to cybersecurity, customer experience and more. Read More Success With Generative AI Requires Balancing Risk With Reward When ChatGPT launched in November 2022, it took just two months to garner a record 100 million users and capture broad market attention. Business leaders are eager to realise the enormous potential that ChatGPT as well as other generative AI models can offer. Read More The Director’s Playbook for Generative AI So much has been written about generative AI (GenAI), it seems like a constant buzz inspiring both wonder and fear. But the value proposition is alluring. After witnessing OpenAI’s ChatGPT in action, Bill Gates said, “I knew I had just seen the most important advance in technology since the graphical user interface.” Read More
