E034 - AI or Not - Meghan Anzelc, Christina Fernandes-D'Souza and Pamela Isom

Welcome to "AI or Not," the podcast where we explore the intersection of digital transformation and real-world wisdom, hosted by the accomplished Pamela Isom. With over 25 years of experience guiding leaders in corporate, public, and private sectors, Pamela, the CEO and Founder of IsAdvice & Consulting LLC, is a veteran in successfully navigating the complex realms of artificial intelligence, innovation, cyber issues, governance, data management, and ethical decision-making.

What happens when artificial intelligence enters the boardroom? According to governance experts Meghan Anzelc Ph.D., Global Leader of Transformation Solutions, STG at Aon, and Christina Fernandes-D'Souza, it's already there, embedded in board portal software, collaboration tools, and the Microsoft productivity suite directors use regularly. The critical question now is how boards will govern these tools while simultaneously providing oversight for their organizations' AI implementations.

Drawing from their extensive experience implementing AI in regulated industries like financial services and insurance, Anzelc and  Fernandes-D'Souza offer practical insights for directors navigating this complex landscape. They emphasize that effective AI governance begins with the board's own practices. Rather than using personal AI tools that might compromise security or reveal sensitive information, boards should establish common, secure platforms that align with their governance principles. This creates consistency while modeling responsible AI use for the entire organization.

The conversation explores fascinating real-world scenarios, including how AI might transform board meeting preparation. While AI can generate and summarize lengthy board packets, the experts suggest a more fundamental approach: redesigning information-sharing processes entirely. They also share a cautionary tale about a Fortune 100 company that implemented a prestigious AI solution only to discover material non-public information being inappropriately disclosed months later, highlighting that even "blue chip" implementations require careful governance.

For boards beginning their AI governance journey, the experts recommend hands-on experimentation, creating a baseline of AI knowledge across all directors, and possibly forming dedicated committees to enhance the board's collective expertise. Their publication "AI-Powered Boardrooms: The Future of Governance" provides a roadmap for directors seeking structured guidance.

Ready to transform how your board approaches AI governance? Start by examining your current tools, establishing consistent practices, and developing the AI literacy needed to provide effective oversight in today's rapidly evolving technology landscape. The possibilities—both positive and challenging—are limited only by our imagination and governance frameworks.

Link to Article: Anzelc, Meghan, and Christina Fernandes‐D’Souza. “AI‐Powered Boardrooms: The Future of Governance.” Board Leadership, vol. 2024, no. 196, Nov. 2024, pp. 4–8. DOI.org (Crossref), https://doi.org/10.1002/bl.30276