AI for Board Minutes - The Good, The Bad, and Tips
Ralph Ward
Global boardroom speaker and trainer. Boardroom INSIDER.com publisher, governance thought leader, consultant and author, board member.
(Condensed from the June issue of Boardroom INSIDER )
AI — is there nothing it can’t do?? Quite a bit, actually, as we move past the bubble phase into shaping artificial intelligence into practical, profitable, legally compliant business tools.? There’s an AI hack finding its way into the boardroom that can likewise be handy… but brings a few added complications and legal worries.
Consider how the minutes of your board meetings typically come together.? The corporate secretary or a board member takes notes, and/or records the proceedings.? This leads to a big pile of raw material that needs to be digested and finessed into a final art-not-a-science version of legal board or committee minutes.
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Here in the new Era of AI, the obvious then occurs — take that dog’s breakfast of words or audio, and just give it to an AI app like ChatGTP, with instructions to turn it into proper board minutes.
Potential downsides of this trend are apparent.? Recording of board meetings are always a legal bomb waiting to go off.? The more it becomes a standard practice, the more likely someone will neglect to wipe all copies once minutes are finalized.? While AI minuting apps note that their draft is only that (a draft), once you get comfortable with letting AI do the minuting, you’re more likely to just send its digital take out for quick approval.? AI “hallucinations” sneaking into the draft could be hard to spot.? Finally, what if everyone on the board uses a recording to create their own AI summaries?? This Tower of Babel approach could be a nightmare.
Still like to take the plunge into AI minute taking?? Microsoft Copilot 365 is the current default, but new options are popping up every day.? The Gabbi app from Govenda claims to do minuting well, as do the new Krisp virtual meeting assistant, Kale , BoardPac , and lots of other digital tools with cute names.? (Editor’s Note … please let me know your experience with the plusses and minuses of AI board minuting tools for a future BI article).
CFO and Board Director | Cyber AI Tech Innovation | Strategy | Fraud & Cybersecurity Risk Governance | Author | Speaker
5 个月Allowing AI minute taking is a risk at the Board and CSuite level. Once transcribed, there is no control over the distribution. This will show up in future lawsuits.
Cyber Governance, Strategy, & Advisory Chairman & CEO for Boards & C-Suites | CEO of the Year | xUBS Tech & Defense IBanker | Wharton MBA | Harvard MPA | Forbes Contributor | Published Author | CyberBoardCast? Host
5 个月Integrating AI into Board minute-taking does bring efficiency while also potentially picking up gaps (i.e. what was not discussed that should have been), but it's critical to address the inherent risks as we move up the adoption lifecycle curve and, instead of shying away from adoption, treating it like a teenager that needs coaching into adulthood; it will get there. Beyond the legal implications, we need to establish rigorous data governance and verification protocols to prevent the AI hallucinations you mention from sneaking into drafts and feed them into the model so it learns and adapts (without bad days like a human might have, causing human errors; e.g. "have I encapsulated these Board minutes in a way that is opening us up to a lawsuit from shareholders? Etc). It's also essential to foster a culture of cyber vigilance among Board members. AI's potential is vast for sure, but its integration should be accompanied by robust human oversight and regular training to mitigate risks (and maximize opportunities). Embracing AI responsibly can revolutionize governance as long as security and accuracy aren't compromising the very output. #BoardGovernance #AI #CyberSecurity #CorporateCompliance #StrategicOversight
Strategic Advisor: AI in Finance & Governance | Former Multi-Billion$ Investment Fund Executive | Ex Board Chair of CFA San Francisco | LinkedIn Top AI Voice (2024) | SEC Qualified Financial Expert
5 个月Using Ai for note taking and meeting summarization doesn't seem to add a lot of value, as these are rarely tasks done by board members. As someone else said in the comments, sometimes it takes wisdom and experience to capture the nuances and dynamics in a board meeting and ensure the right representation of views show up in the meeting minutes. That said, two possible use cases are more interesting to me (assuming we solve the hallucination and safety challenges): one is to ask AI to run behavioral analysis on the board discussions and identify areas for improvement regarding unconscious biases. second is to ask AI in the end of a meeting: what might be some issues that we should have discussed but have not? Alternatively, what might be some issues that we spent more time than we should have? And of course - why?
Cofounder @ Profit Leap and the 1st AI advisor for Entrepreneurs | CFO, CPA, Software Engineer
5 个月What's new in AI for board minutes? Any exciting developments lately? Ralph Ward
Chief of Staff to CEOs | Amazon #1 New Release AUTHOR “Unlocking Your Inner Chief of Staff” | Ethical AI & Authentic Leadership Keynote Speaker | Board Chair, AI FOR JOB SECURITY
5 个月I see three problems with the concept. 1) in it’s current state AI is just not dependable to be accurate. I’ve seen regular meeting minutes grossly misinterpreted. 2) Just because it was said doesn’t mean it needs to get reported. It would still take significant time to scrub the minutes before they could be final. 3) No way trust all things said in a board room to the cloud or even local datastore. With hacks and disgruntled employees, etc. this would open up issues in scrutinizing every word people say.