I was delighted to moderate an incredible panel at Odgers Interim recently entitled “The Intelligence Imperative: Governing AI, Data and Ethics”. Hosted by Adam Gates, Becky Mackaral and Richard Plaistowe for clients from Financial Services and Professional Services Firms, I could have not have asked for a more stimulating, engaging and insightful panel – you could have heard a pin drop at points during the evening:
- Steve Wright, Chief Privacy and Data Protection Officer, FSCS
- Flora Page KC, Barrister 23ES Chambers and Chair, Institute of Business Ethics
- Peter Jackson, Global Head of Data Office, Schroders
Prior to the Panel discussion and audience Q&A, my words below set the context for a rich debate and fantastic dialogue – read my words here below:
********************The relationship and complex intersection between AI, Data, Governance and Ethics in the Boardroom should not be underestimated – but have we even begun to scratch the surface of what this comprises of? The power and the peril of new and emerging technologies is at risk of overwhelming and outpacing the governance structures of even the most advanced and progressive businesses.
Here is my opening provocation: are our boardrooms equipped to govern technologies that are evolving faster than our ethical frameworks, our legal and regulatory systems, and even our imagination?
A 2024 UN report asserts that the most significant harms to people related to generative AI are, in fact, impacts on internationally agreed human rights – emerging technologies pose risks to literally every one of these internationally agreed-upon rights. Whether it’s privacy, freedom of expression, equality and non-discrimination, access to information, human agency and dignity – all of these are profoundly affected by the use of Gen AI. Human rights must be at the core of Gen AI development and deployment. For that we need robust governance, transparency, and accountability to ensure that the AI benefits everyone and does not perpetuate harm.
The IOD published a business paper last week – AI Governance in the Boardroom – with a core message that AI adoption and governance MUST be treated as a strategic boardroom issue, NOT a purely technical issue. It states boards must lead on risk oversight, capacity building, and stakeholder communication to ensure the responsible and effective adoption of AI.
And a new study of global business leaders has been published TODAY by the British Standards Institution (BSI) which shows entry-level workers are facing a ‘job-pocalypse’ due to companies favouring artificial intelligence systems over new hires.
Businesses are prioritising automation through AI to fill skills gaps, in lieu of training for junior employees.
- Nearly a third of all (850) respondents globally reported that their organisation now explores AI solutions before considering hiring a human
- 41% said AI is enabling headcount reductions
- Two-fifths of leaders revealed that entry-level roles have already been reduced or cut due to efficiencies made by AI conducting research, admin and briefing tasks, and
- 43% expect this to happen in the next year (nearly 50%!)
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What does this mean?
AI represents an enormous opportunity for businesses globally, but as we chase greater productivity and efficiency, we must not lose sight of the fact that it is ultimately people who power progress.
There is an inherent tension between making the most of AI and enabling a flourishing and prosperous workforce – you could say this is the defining challenge of our time.
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The imperative for governance, ethical awareness, and the need for robust data has never been more critical. We need oversight, compliance and accountability. We must protect rights, fairness and transparency. And we must have high-quality data that avoids model bias, errors and privacy breaches.
In short, governance, ethics, and robust data are not optional – they are the structural integrity of responsible AI. They protect organisations from risk, build stakeholder trust, and ensure that AI delivers value without causing harm.
The future will be shaped not just by the technologies we create, but by the wisdom which we govern them