Corporate boards are struggling to cope with digital transformation to assess risks such as cybersecurity, and AI-driven software can provide real-time data and improve decision-making, ultimately leading to increased profitability.
Digital transformation remains the Achilles Heel for corporate boards:
- 81% of boards are yet to progress toward achieving their business transformation goals.
- Less than 50% of directors believe that their board lacks technical expertise.
- For 60% of directors, growing their revenue remains their top priority.
- With the cost of cybersecurity breaches set to eclipse $8 trillion in 2023, 38% of directors admit cybersecurity remains their biggest concern.
Marion Lewis, Founder and CEO of Govenda, an innovative board management SaaS developer asserts that boards are finding rapid and constant digital transformation difficult, raising fears that they will not be able to pivot in response to needed change, putting the boards and organizations at risk.
Govenda recently launched their Artificial Board Intelligence Innovation called ‘Gabii’ to facilitate decision-making through a fast presentation of real-time data to ensure compliance from anywhere in the world, using customers’ data without compromising security:
- Blockchain technology provides an additional layer of security for board materials.
- Administrative tasks like creating meetings, managing committee members, and tracking RSVPs will help in reducing the need to perform tedious, repetitive tasks.
- With faster access to relevant information, board professionals and directors can make more informed decisions.
- ‘Gabii’ supports voice accessibility, by answering questions to help complete tasks.
Boards must evaluate their current software for digital transformation and sustainability.
- 21% of CEOs believe that Artificial Intelligence (AI) is the top technology that will significantly impact their industry over the next three years.
- Companies investing in AI technologies could increase profitability by an average of 38% by 2035.
“The sustainability of board governance is in jeopardy. The solution is to incorporate AI-driven board portal software into corporate board processes,” says Lewis.
Flawed judgment and a lack of proper decision-making often lead to business failures.
Lewis notes that U.S. board members face challenges without AI, including limited real-time information access and the inability to spot patterns in large data sets or automate decision-making.
Marion Lewis, Co-Founder and CEO of Govenda can speak on the following:
- Why must organizations leverage the use of AI in the advancement of digital transformation?
- How can AI integration in corporate governance ensure that disaster response and contingency planning are effective in the face of digital disruption?
- Why has AI integration been missing in corporate governance systems till today?
- What role can AI-driven board portal software play in improving corporate governance practices, decision-making, and managing risks associated with digital transformation?
About Govenda
Marion Lewis and Jeanette Thomas, two results-driven entrepreneurs, investors, philanthropists, and business community leaders co-founded Govenda. Govenda is reimagining how board of directors convene to provide intentional, strategic governance ─ by being the bridge between the boardroom and a company’s strategic goals. The board management software accelerates stakeholder governance as a force for good in the world and empowers organizations to create sustainable value by equipping stakeholders with innovative tools that transform practices. It was designed to magnify security and compliance as board tools to handle sensitive and confidential information crucial to compliance and control of proprietary data. Portability of access with enhanced collaboration is no longer a plus – it is essential. GABII, the Govenda product integrating its AI-driven portal tools with Microsoft 365 and enterprise resource planning (ERP) software streamlines workflows and improves efficiency. For more information on the most innovative platform in board governance visit www.Govenda.com