Meeting Roger Spitz, Chair of the Disruptive Futures Institute and Founder & CEO of Techistential (Strategic Foresight & Sustainable Futures), at the Institute of Directors (IOD), India #London #Global #Convention was profoundly insightful. His talk highlighted how businesses can thrive amidst unpredictability, urging boards to operate effectively in uncharted territories. He emphasized Artificial intelligence’s critical role in decision-making and its implications for strategic evolution. Spitz stressed the need for boards to adapt to present challenges while preparing for hyper-augmented, AI-driven futures. His new book here https://lnkd.in/e-kGXi2W
The panel explored the momentum of #AI in #boardrooms, urging directors to harness AI for innovation, efficiency, and strategy while managing risks like cybersecurity and data privacy. Insights from Mohit Ralhan, Global CEO of TIW Capital Group, underscored disruption-driven growth and organizational mental health. Angelo George, CEO of Bisleri International Pvt Ltd, called for accountability and self-regulation. At the same time, BVR Mohan Reddy, Founder Chairman of Cyient Limited, and Naveen G.V, Managing Director at Benchmark Digital Partners LLC, discussed AI’s potential to boost productivity and profitability.
I raised concerns about AI’s societal impacts, including the risks of creating a “digital social caste.” Should directors bear personal accountability for AI-driven disruptions? Should companies mandate AI-specific board subcommittees to oversee ethical technology use —distinct from traditional Audit, Risk, ESG, and other committees? While the responses varied, one panellist suggested that directors could only be held partially accountable, akin to their accountability in financial decisions. Yet, as in finance or governance, directors may face scrutiny years later if they neglect their duties. It raises an important question: why not hold directors fully accountable for decisions related to AI and its societal impact?
The discussion left pressing questions about boardroom accountability and the mechanisms needed to ensure ethical foresight in the AI era. #Boards must evolve to address these challenges head-on.
#aiforbusiness #aiforgood #aiforall
Photo: Myself with Roger Spitz, Chair of the Disruptive Futures Institute and Founder & CEO of Techistential (Strategic Foresight & Sustainable Futures).