Photo: Alphaspirit/Adobe Stock Advising the Board on Technology Oversight
The new NACD Report strongly endorses focused board oversight as essential to the proper corporate application of technology. This is particularly the case given how technology trends and developments are dramatically impacting the current competitive environment.
October 11, 2024 at 02:55 PM
6 minute read
Corporate counsel now have a solid platform from which to advise their leadership on board oversight of technology. This, following the October 7 release of the National Association of Corporate Directors ("NACD")'s latest Blue Ribbon Commission Report, "Technology Leadership in the Boardroom: Driving Trust and Value."
As many corporate counsel are painfully aware, the ongoing national discussion on the organizational use of artificial intelligence and similar advanced technology hasn't addressed the proper fiduciary role of the board of directors. This has left many boards uncertain as to how governance is to engage with respect to how AI and other technology is used by their companies. The uncertainty has frequently been compounded by internal company pushback on the value the board can contribute to the development of AI strategies and to confronting AI risks.
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