For all of the talk about Artificial Intelligence and its many uses and possible misuses, the advanced technology has not yet substantially impacted the world of corporate governance, according to a new study issued by the Deloitte Global Boardroom Program.
Interviewing nearly 500 directors and members of corporate boards, the Deloitte study found that some 45% of respondents said AI has not even come up as a regular agenda item, compared with a combined 41% who said it has been at least discussed once or twice a year.
Perhaps because of the lack of attention many corporations at the leadership level appear to be giving to AI, a combined 46% of the respondents said they were not satisfied with the lack of attention the growing technology is being given in their companies.
A roughly equal number of respondents, at 44%, expressing a desire for greater AI use, said they thought their companies needed to accelerate their immersion into the AI world.
Not specifically mentioning the ages of the various corporation board members, those surveyed in a combined nearly 80% response said they thought their fellow members had either limited or minimal knowledge of AI, or “no knowledge or experience” whatsoever.
In trying to make up for this gap, some 57% of respondents said they were currently “independently seeking to enhance their respective knowledge” of AI; while 37% revealed that they had brought in outside AI specialists to bring their boards up to date.
In eventually becoming more involved in the AI world, some 57% of respondents said they thought their companies should develop policies regarding the ethical use of the technology.
An essay accompanying the Deloitte survey – noting that spending for internet tools has increased in the last two years by 7.5% for a total of $5.2 trillion today – specifically points to “AI-related investments as the main reason behind this growth.”
The essay adds, in sizing up the opinions of the many interviewees who were a part of the study, that corporate boards in general want to “spend more time on AI and gen AI,” in an effort to enhance their knowledge and experience.
By Garry Boulard
Photo Courtesy of Pixabay
