AI in the Boardroom: Hype or Real Help?

AI in the Boardroom: Hype or Real Help?

Artificial intelligence is now knocking on the boardroom door, but it's easy to be skeptical in a world full of big promises.

AI is Here and Now a Super-Efficient Assistant

The most immediate and tangible value of AI in board work lies in automating time-consuming tasks. Think of AI as an efficient board secretary who can transcribe and summarize meeting discussions in minutes, not hours. Additionally, AI-powered search can make it possible to find old resolutions and documents by asking questions in natural language. This frees up valuable time from administration to analysis.

Here, the value of AI is already indisputable today.

In the Near Future, AI Becomes an Insightful Analyst

The next level for AI is to move from managing to analyzing. Here, the technology will help the board see patterns and gain insights that were previously hidden. AI will be able to analyze large amounts of data to identify decision-making patterns that correlate with success, or automatically flag language in case documents that indicates increased risk. In this way, AI can provide a more data-driven basis for decisions.

This will elevate the quality of the board's discussions and assessments.

AI in the Boardroom in Brief:

• The Helper (Today): Automates tasks like transcription, summarizing meetings, and intelligent search in archives.
• The Analyst (Near Future): Analyzes decision-making patterns and flags potential risks in case documents.
• The Tool (Always): AI does not replace the board's judgment but provides a better, faster, and more data-driven basis for decisions.

AI is a Tool, Not a Replacement

It is crucial to be realistic and separate hype from reality. AI will not replace the board members' judgment, experience, and ethical compass. The technology will not make strategic decisions or predict the future with certainty. AI is and remains a tool, designed to provide a better, faster, and more data-driven foundation for the human decisions made in the room.

The final assessment and responsibility will always lie with the board.

“AI will not make strategic decisions for us. It will give us a better basis for making them ourselves.”

At 21st.ai, we are passionate about how technology can improve decision-making processes. Read more about our vision for the future of board work and how we plan to integrate intelligent decision support into our platform.