Peter Mangin is a seasoned technology leader with over 25 years of experience, Peter has a knack for leveraging technology to drive innovation and business transformation. One of his core competencies lies in the practical application of AI, using it as a tool to unlock new possibilities, drive insights, and create value. His current focus is on taking Pure SEO to the next level, embodying his commitment to impactful work.
As an AI consultant, I’ve been closely observing the evolving landscape of artificial intelligence (AI) and its impact on various industries. Recently, an article published by the Institute of Directors in New Zealand (IoD) in New Zealand caught my attention. The article titled “Directors embrace AI opportunities” provides a pulse check on how company directors perceive AI and its potential implications for their organisations.
The IoD’s AI Pulse Check survey revealed that directors have an overwhelmingly optimistic view of AI, with 72% believing it brings more positives than negatives. Interestingly, only 10% were concerned that AI could be detrimental. The survey also found that 58% of respondents already have AI at work in their organisations, and a further 7% have plans underway to introduce it.
However, there’s a catch. Despite the optimism and the adoption of AI, 63% of respondents acknowledged that their boards did not have the skills needed to lead their organisation into a digital future with AI. This gap in skills and understanding is a crucial area that needs addressing.
The survey also highlighted the need for AI governance. A majority (60%) of respondents advocated for the government to legislate on the use of AI, while only 22% had considered whether their organisations needed the policy to manage AI risks. These statistics underscore the importance of having a robust AI governance framework in place, not just at the government level, but also within organisations. This is where a trusted consultant can provide valuable insights and guidance, ensuring that AI is used responsibly and ethically.
Forming a coherent AI policy is crucial for any organisation planning to implement AI. This policy should cover employees’ use of generative AI and potential changes to the organisation’s value proposition. It should demonstrate that the business is actively identifying emerging risks and opportunities in AI. Crafting such a policy, and ensuring that it aligns with the organisation’s overall strategy and values, is a task that requires a deep understanding of both AI and the specific business context.
Organisations should also be aware of regulatory progress in foreign markets. For instance, the European Union’s AI Act, which aims to ensure a human-centric and ethical development of AI, may have global implications. Businesses dealing with European markets or considering global expansion would need to comply with these regulations to avoid penalties.
As a C-suite leader, you might be wondering, “Why is this relevant to me?” The answer is simple: AI is not just a technological innovation; it’s a strategic imperative. It has the potential to revolutionise work and society, and those who understand and manage the upside and downside risks of AI will win.
However, understanding AI and its implications is not something to outsource to experts. As Sheridan Broadbent , an independent director, puts it, “You need to have a sense of, roughly, how it works what the risks and opportunities are.”
So, I invite you to join us on this journey. Let’s explore the potential of AI together. Let’s tackle the challenges head-on. Let’s shape the future of AI, and in doing so, let’s shape the future of your organisation. Remember, the future is not something that happens to us; it’s something we create. And with AI, we have the tools to create a future that is not just better for our businesses, but also for our society.
The adoption of AI is not just a technological shift; it’s a strategic imperative. It’s an opportunity to drive growth, innovation, and competitive advantage. But it’s also a responsibility to use AI ethically and responsibly. As C-suite leaders, we have a crucial role to play in shaping the future of AI.
In this journey, having a trusted partner can make a significant difference. A partner who can guide you, provide you with the necessary insights and help you navigate the complexities of AI adoption. A partner who understands your unique business context and can help you leverage AI to achieve your strategic objectives.
As we move forward, it’s important to remember that the future of AI is not set in stone; it’s being shaped by the decisions we make today. We have the opportunity to drive AI adoption, promote ethical AI use, and shape the future of our industry.
So, let’s embrace the opportunities of AI together. Let’s shape the future of AI, and in doing so, let’s shape the future of our businesses and our society. Remember, the future is not something that happens to us; it’s something we create. And with the right guidance and support, we can create a future that is not just better for our businesses, but also for our society.
In this journey, remember that you’re not alone. There are experts and consultants who can help you navigate this complex landscape. At AI Innovisory, we’re committed to helping our clients harness the power of AI to drive growth and innovation. We’re here to support you in this journey, providing you with the insights, guidance, and expertise you need to succeed.
Let’s embrace the opportunities of AI, and let’s shape the future of our businesses and our society.
Located in Auckland, New Zealand, AI Innovisory is your strategic partner in navigating the complex landscape of AI and its transformative impact on businesses. We are not an AI solution provider but a dedicated AI consulting firm that empowers businesses to harness the power of AI in innovative and strategic ways.
If you’re prepared to lead in your industry, we’re here to help you excel. Let’s explore how you can maximise the potential of advanced technologies.
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