Business and Money Tips

Many boards are accelerating AI adoption as if slow adoption will mean big losses.  Truth be told, without understanding the governance and human resource implications, boards are overestimating AI benefits and ignoring the risks of AI adoption.  For example, one public accounting firm uses AI to analyse clients' financial statements and did not realize that such data entered into the internet is available for all to see.  This creates a big privacy issue that breaks trust with its clients.  1.  The question is:  Are we actually ready to use AI responsibly and productively? Buying AI tools is easy. Readiness requires clean and accessible data, appropriate infrastructure, capable people, redesigned processes, cybersecurity, controls and management accountability. A company can be technologically AI-enabled but organisationally AI-unready . 2. Underestimating the human problem The biggest barrier is not technology but  people . Employees fear replacement...

The Best Boards Don't Just Govern. They Make the Company Better. When people think about a high-performing board, they often think about compliance, controls and oversight . But that is only the beginning. As business becomes more complex, boards face increasing pressure from shareholders, regulators, employees and society. CEOs, meanwhile, expect their directors to contribute independent judgment, strategic perspective and experience—not simply attend meetings and approve resolutions. So what separates a board that merely functions from one that genuinely creates value ? 1. A Board Is Not a Collection of Impressive CVs You can put ten highly accomplished people around a table and still have an ineffective board. A high-performing board is a team . That requires the right mix of experience, expertise, personalities and perspectives. But diversity alone is not enough. Directors must be willing to challenge one another while maintaining mutual respect. Boards need both anal...