Protiviti Inc.
11/13/2024 | News release | Distributed by Public on 11/14/2024 02:38
A Director’s Road Map for Effective AI Implementation
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A Director's Road Map for Effective AI Implementation
Almost every organization 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), organizations 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?
Often, client discussions attempt to address three objectives:
- Identify how to maximize 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)
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