Episode 287 — Board Oversight and Monitoring of AI Risks
Corporate boards face a panoply of risks – and the nature of these risks are quickly evolving. Cybersecurity has quickly risen to the top of the list of corporate risks. Add to that the new SEC regulations on cybersecurity disclosures, and board members face serious and escalating risks surrounding ransomware attacks, data breaches and other technical issues.
The challenge – board members are not cyber experts, nor do they really like to focus on technical issues. Not to be too simplistic or harsh but board members usually ask CISOs – “Are we okay?” and then want to move on.
Just to make everything even more complicated, now let’s ladle on a new, and quickly growing risk for board – artificial intelligence. By this time at the board meeting, eyes will be glazed over.
Directors have significant oversight obligations to cover artificial intelligence.