Board Directors Can Do More With AI
: New programme to help improve board effectiveness with enhanced foresight and objectivity
Singapore, 20 April 2022 – Corporate governance is an evolving area that changes with policy matters and economic reforms in a country. There is notably an increasing pressure on the board of directors and management to implement policies; while maintaining a healthy culture and good corporate governance responsibility across the organisation. To help address this issue, the Centre for AI Innovation (CEAI) is launching a new programme involving an AI expert system that gives board directors an independent and objective take on the effectiveness of management decisions.
Digital Board (DB) is the world’s first AI system for board directors to review company performance and strengthen foresight for governance, risk, and compliance. These also cover areas that predict emerging trends, conduct a media/market sentiment analysis, business roadmaps – as well as social impact made by an organisation.
“The challenge of good corporate governance, risk and compliance is, that it doesn’t stand alone. It is connected to the company’s vision, mission and values, to give directors and stakeholders a clear roadmap about how they take the company forward”- says Shanker Damodaran, Head of Research & Communication, CEAI Global.
“The effects of using AI-driven analytics lead to good governance while also saving costs by addressing compliance gaps. With the pressure for good corporate governance from shareholders, institutional investors, government and other stakeholders, AI supports the boards effectively by analyzing large amount of complex data in a short period to time,” he adds.
According to Shanker, for a boardroom size of 5, 7 9 , 11 and 13 (directors), the report cost per director is “lower than the price of an intern’s pay, and even so for a CFO”.
He adds, “There are many ways to interpret the gains such as increased productivity, lower overheads, increase in revenue, lower operating costs and gain more customers. This helps to enhance and augment the intelligence to succeed in the implementation of governance across the organization for profitability and scalability.”
For more enquiries about Digital Board, please write in to firstname.lastname@example.org.