Top 3 Duty Of Care Board And C-Suite AI Literacy Accountabilities

Duty Of Care Board And C-Suite AI Literacy

 

I have been writing to Board Directors, CEOs and C-Suite executives to help further their leadership knowledge in AI and Data Science over the past two years. I am pleased to see that many board of director board certification systems are beginning to incorporate content into AI systems and transform their risk management frameworks into AI risk lenses.

But then I don’t see that we’re doing enough well enough.

Given everyone is overworked and around exhaustion as the Covid-19 and Delta Variant continue to create global turmoil, I thought a short snappier blog could encourage leaders to take on more leadership and commitment to care.

Do not wait for formal training. Start reading today. AI is a big tsunami hitting the planet like all business models, operating procedures will be washed in the waters of the blue sea and I mean all that. It does not matter if you are a high school administrator because robots can easily take out the corridors, point to fraudulent financial statements, work to end customers at the end of the robotic automation process, and even educate our children – everything in our business world and our home environment will continue to change. To stay fit, it is important that you invest in digital learning time and digital skills. I would also say that every board director / C-Suite leader must be competent in technical knowledge and understand the importance of data and data language, advanced analytics and AI. How can a board manager protect and add value without basic digital literacy?
Ask questions from your Board / Leadership Team. First, your board chair sets a digital reading and writing tone. Is your board chair promoting digital literacy discussions and ensuring that information is developed? Does your Audit Committee have a strong AI / Data Scientist / AI Ethics expert on the table? We love testing Emotional IQ – but are we testing Digital IQ? What is a school reading and writing card for all board directors and C-Suite leaders? Is the company building the development of digital literacy skills as an ongoing investment for all employees?
Invest in Stronger Leadership AI / Data Science competence to Innovate and Learn – How much of your operating budget is allocated to AI? Do you have an AI strategy in place that is well understood by all C-Suite leaders and is regularly updated with your board of directors? Do you have a competitive score card that tests your competitors using AI and investing in AI by comparison?

You may recall, Peter Drucker’s famous quote that culture consumes breakfast strategy. In other words it takes a lot of time to change the DNA of talent if digital technology / learning basics are not grounded, and constantly invested. In order to grow, the roots of the talents need to be nurtured, and they are fed with the knowledge of technology permanently. The experience of a one-day watering or two-day immersion course is not the answer. You can’t turn a dessert into an oasis at night – so deep thinking, and longevity is the basis for the success of a transformation process.
I don’t think any CEO should be in the footsteps of any company without strong digital literacy skills and AI skills. The risks are very high as the world is developing rapidly in terms of speed and we are now seeing the push of digital robots / robots in our homes, continuing to bring new innovations into our lives. And – with McKinsey’s predictions that more than 50% of the professional roles will be affected by AI, which is important to have AI Talent Strategy, AI Business Strategy is a big business risk if the foundations are not built to last.
Its the key to advancing this three-pronged leadership and enjoying the ride – it will be the fastest you have ever heard, just make sure you do not miss the opportunity to lead and transform and grow.

Note: AI Dilemma is a book I have just written and serves as an excellent basis for furthering your knowledge across the various industries and has a framework for leadership assessment to be considered.

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