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Inside the Strategy Room
196. A guide for boards on generative AI: Four questions for management teams
Feb 20, 2024
Discover how boards can guide management teams in embracing generative AI, the economic potential of this technology, essential questions for CEOs, and insights from experts in technology and board practices. Explore the role of boards in maximizing data utilization, leveraging early mover advantages, and creating value in generative AI for global productivity gains.
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Quick takeaways
- Boards should encourage management to have an experimental mindset and consider risks/opportunity costs of not adopting generative AI.
- Generative AI can enhance productivity by prioritizing applications like decision-making, content creation, and upskilling for innovation.
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The Role of Boards in Exploring the Potential of Generative AI
Boards play a crucial role in engaging management teams to fully explore the potential of generative AI, even beyond their comfort zones. They need to encourage management to have an experimental and external mindset, considering the risks and opportunity costs of not adopting new technologies. Some key questions boards should focus on include the impact of generative AI on the industry and business model, the risks and mitigation strategies, scaling beyond pilots, and deploying AI in a responsible and secure way. Boards should also ensure they have the right talent, culture, and external perspectives to drive innovation.
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Discover
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