Corporate governance expert Betsy Atkins says directors of public companies need to take a much more proactive role in leading digital transformation within their organizations. One of the key ways they can start igniting change isn’t by mandating technology like artificial intelligence (AI) and machine learning (ML), but instead by changing the metrics with which they hold executives accountable to benchmark for gains that these cognitive technologies should be affording them. One of the big ones she suggests is a “time to insights” metric that shows how well they can use predictive capabilities to adjust to market realities.
As a board member, you probably shouldn’t fear AI, automation, or the rise of the robots. You should, however, have a healthy fear of falling behind. Falling behind by failing to see that there’s a revolution happening right now. A revolution that will be as transformative as the digitization of our businesses. If you are still catching up to digitize, you should probably learn from the scars left by being late on key trends like mobile enablement. You may want to consider how to lay the foundation for this next revolution. This next AI-enabled revolution is the cognitive revolution. The cognitive revolution is about using your company’s data.