AI is a board-level concern. From misinformation and fraud to governance gaps, understanding the risks can help you make better decisions.
WTW's latest Directors’ and Officers’ Survey found that 56% of respondents consider AI a very or extremely important risk. Yet the challenge extends beyond the technology itself. Different organisations are concerned about different aspects of AI, from misinformation and fraud to the risk of falling behind competitors. Only 55% of respondents also believe their boards have the skills and knowledge needed to provide effective AI oversight.
Understanding these concerns can help you focus governance efforts where they matter most.
In this article, WTW explores the various concerns and how you can mitigate risks for your board, including:
- AI-generated misinformation
- AI-enabled fraud
- Strategic adoption risks
- Strengthening board oversight
- Building confidence in AI governance
The AI risks highlighted in the survey are diverse, but they share a common theme: the need for informed oversight and effective governance. From misinformation and fraud to competitive pressures and board capability, organisations face difficult decisions about how they adopt and manage AI.
Those that invest in governance, controls and AI literacy today will be better positioned to manage emerging risks while capturing the opportunities AI presents in the years ahead.
Learn More:
Read the full article here to learn how your organisation can strengthen its approach to AI risk, governance and resilience.
About WTW:
Willis Towers Watson (WTW) is a global leader in advisory, broking, and risk management solutions. With nearly 200 years of experience and 45,000 employees in over 140 countries, WTW helps businesses turn risks into growth opportunities by providing tailored solutions for intricate risk profiles. WTW’s offerings, including professional liability, D&O insurance, cyber risk, and M&A-related insurances, directly address the risks and challenges faced by today’s NEDs. NEDA are proud to be working in partnership with WTW.