AI: From Buzzwords

to Boardrooms
Crafting Your Roadmap to Success

Daniela Castro, Cathy Ford

and Tim Healy
AI: From Buzzwords to Boardrooms - Crafting Your Roadmap to Success

Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
About the Authors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Glossary of Terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Are you managing AI risks to your advantage? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Key Resource: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
The urgent need for revised risk management approaches . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Redefining risk appetite in the age of AI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Proactive steps for organisations to take . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
How resilient is your organisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Active testing: The foundation of resilience . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Synchronising crisis response mechanisms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Navigating the unavailability of key resources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Leveraging AI and emerging technologies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Generative AI in business: Data governance and ethical considerations . . . . . . . . . . . . . . . . . . . 7
Crafting Your Roadmap to Success with AI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Recognising your starting point on the AI journey . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Crafting your roadmap to success with AI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Identifying key stakeholderas in shaping the AI roadmap . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Implementing the AI roadmap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Managing and evolving the AI roadmap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Leveraging industry insights: The value of learning from others’ AI successes . . . . . . . 16
Quick guide . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
References and Further Reading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Books . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Articles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Online Resources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Reports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Infographic: The AI journey - From exploration to implementation . . . . . . . . . . . . . . . . . . . . . . . 19
AI Ethics and Compliance Checklist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Join our Masterclass . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Introduction

Welcome to "AI: From Buzzwords to Boardrooms - Crafting Your

Roadmap to Success", an essential guide for organisations looking
to harness the transformative power of artificial intelligence
(AI). As AI continues to evolve, it presents both unprecedented
opportunities and significant challenges for businesses across all
sectors. This e-book is designed to help you understand, strategise,
and implement AI in a way that aligns with your organisation's core
objectives and strategic goals.

In the pages that follow, we explore practical steps and key

considerations for crafting a successful AI roadmap. We begin by
recognising the unique starting points of different organisations
on their AI journeys, whether they are just beginning to explore AI
or are already advanced in their implementation. From there, we
delve into the specifics of aligning AI initiatives with your business
strategy, identifying use cases, prioritising projects, and ensuring data
readiness and infrastructure support.

We emphasise the importance of involving a wide range of

stakeholders, from strategy and IT teams to senior leadership and
operational staff, to foster a comprehensive, collaborative approach
to AI adoption. Additionally, we highlight the critical role of ethical
considerations, regulatory compliance, and continuous monitoring
and evaluation in managing AI initiatives effectively.

Furthermore, we discuss the value of learning from industry insights

and case studies, drawing inspiration from others' successes and
cautionary tales to inform your AI strategy. This e-book also covers
the need for a phased implementation approach, strategic resource
allocation, and preparing for the operational demands of AI projects.

By following the guidance and best practices outlined in this e-book,

your organisation can navigate the complexities of AI adoption with
confidence, ensuring that AI not only drives innovation and efficiency
but also aligns with your overarching strategic goals. Whether you
are defining your AI roadmap or actively delivering AI projects, this
e-book provides the tools and insights you need to succeed in the
rapidly evolving AI landscape.

AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success 1

 About the Authors

Daniela Castro
Editor and Contributor
Daniela Castro on LinkedIn

Daniela Castro brings a unique blend of editorial expertise and

technological acumen to this e-book. With a strong background in
technology consulting and a passion for AI, Daniela played a crucial
role in refining the content and ensuring its relevance and clarity.
Her collaboration on this project has helped shape a comprehensive
guide that is both informative and accessible, empowering
organisations to make strategic decisions about AI adoption and
implementation.

Cathy Ford
Author and Contributor
Cathy Ford on LinkedIn

Cathy Ford is a distinguished professional with extensive experience

in technology consulting, specialising in AI and digital transformation.
As a contributor to this e-book, Cathy brings her deep knowledge and
practical insights to guide organisations in successfully adopting and
implementing AI technologies. Her expertise in strategic planning
and her ability to translate complex technical concepts into actionable
business strategies make her an invaluable asset to this project.
Cathy's collaborative approach and dedication to fostering innovation
have helped numerous organisations navigate the challenges and
opportunities presented by emerging technologies.

Tim Healy
Principal Author
Tim Healy on LinkedIn

Tim Healy is a seasoned technology consultant with a wealth of

experience in guiding organisations through the complexities of digital
transformation. As the principal author of this e-book, Tim leverages his
extensive background in AI and strategic technology implementation
to provide invaluable insights and practical advice. His expertise spans
various industries, helping businesses innovate and stay competitive in
an ever-evolving technological landscape.

2 AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success

Glossary of Terms

Algorithm: A set of rules or instructions given Deep Learning: A subset of machine

to an AI program to help it learn and make learning involving neural networks with
decisions. Algorithms are the foundation of three or more layers. These networks can
AI and machine learning models. model complex patterns in large datasets,
useful in image and speech recognition.
Artificial Intelligence (AI): A branch of
computer science that aims to create Ethical AI: The practice of designing and
machines capable of intelligent behaviour, using AI in a way that is fair, transparent,
including machine learning, natural and accountable, ensuring that it does not
language processing, and robotics. cause harm and respects human rights and
privacy.
Bias in AI: The tendency of an AI system
to produce results that are systematically Generative AI: A type of AI that can generate
prejudiced due to erroneous assumptions in new content, such as text, images, or music,
the machine learning process. Bias can lead based on the data it has been trained on.
to unfair treatment of individuals or groups. Examples include ChatGPT and Gemini.

Business Continuity Planning (BCP): A KPIs (Key Performance Indicators): A set

strategy that outlines how an organisation of quantifiable measures used to gauge
will continue operating during an unplanned the performance of a business, project,
disruption in service. It includes the or organisation in meeting objectives for
identification of essential functions, and the performance.
procedures for maintaining them.
Machine Learning (ML): A subset of AI that
Chatbot: An AI software program that uses algorithms and statistical models
simulates human conversation through to enable computers to improve their
voice commands or text chats, used often in performance on a task through experience.
customer service settings.
Natural Language Processing (NLP): A
Cloud Computing: The delivery of different field of AI that focuses on the interaction
services through the Internet, including data between computers and humans through
storage, servers, databases, networking, and natural language. NLP enables machines
software. Cloud computing enables scalable to understand, interpret, and respond to
and flexible AI infrastructure. human language.

Compliance: Adherence to laws, regulations, Predictive Analytics: The use of data,

guidelines, and specifications relevant to statistical algorithms, and machine learning
an organisation’s business processes. In AI, techniques to identify the likelihood of future
compliance often involves data privacy laws outcomes based on historical data.
such as GDPR.
Robotic Process Automation (RPA): The
Data Governance: The management of data use of software robots to automate highly
availability, usability, integrity, and security repetitive and routine tasks traditionally
in an organisation. It ensures that data is performed by humans. RPA enhances
consistent and trustworthy. operational efficiency and accuracy.

Data Privacy: Ensuring that personal or Token: In NLP, a token is a single instance of
sensitive information is collected, stored, and a sequence of characters in some particular
used in a way that protects the information document that are grouped together as a
from unauthorised access or disclosure. useful semantic unit for processing.

AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success 3

 Are you managing AI risks to your advantage?

As the world enters the era of artificial intelligence (AI), organisations find themselves at a
pivotal moment, reminiscent of the early days of the internet—a time filled with both vast
potential and uncharted territory. This exciting landscape brings anxiety for senior leaders and
board members as they navigate forward.

This moment calls for a fresh approach to risk management, questioning whether the past
strategies for managing ICT risks are sufficient for AI-driven challenges and opportunities.
The need for a new approach is especially evident given employees often has direct access to
popular AI tools. This accessibility of AI may lead to scenarios where the ICT department is not
consulted on the appropriate use of AI tools, thereby eliminating the opportunity to implement
appropriate risk management measures. management to be implemented. Although the
impact of AI varies across organisations and industries, it’s crucial to ask: Are you managing AI
risks to your advantage?

Key Resource:
The NIST AI Risk Management Framework (AI RMF) provides structured guidelines and
best practices for responsibly managing AI risks. This framework helps organisations
protect themselves, their clients, and employees from the adverse impacts of AI initiatives.

The urgent need for revised risk management approaches

The integration of ICT into every facet of organisational operations has steadily occurred
since the mid-20th century. In parallel, many organisations have developed and applied
robust risk management practices. This foundation often overlooks the nuanced risks and
opportunities that AI introduces. It may well be that the existing risk lens remains effective for
managing AI risk, but this should not be assumed. There’s a growing recognition that current
risk management methodologies may not fully encapsulate the dynamic nature of AI-driven
challenges and opportunities, let alone the increasingly availability of AI to employees without
the involvement of the ICT team.

It is incumbent upon organisations to critically evaluate and, where necessary, adapt their
risk management frameworks to better align with the AI era. This reassessment is a strategic
imperative to ensure competitiveness and resilience in the rapidly evolving ICT landscape.

It is also crucial to update company policies and procedures to keep up with generative
AI advancements, revisiting vendor management and internal AI usage policies to ensure
compliance with the latest ethical standards and privacy regulations.

Redefining risk appetite in the age of AI

Central to this recalibration is the concept of ‘risk appetite’. In an environment where AI can
both disrupt and enhance business models, understanding and articulating an organisation’s
willingness to engage with AI-related risks becomes crucial.

For organisations with an existing Risk Appetite Statement (RAS), a thorough review is
necessary to ensure it reflects the current and anticipated impacts of AI. Organisations should
carefully consider whether AI is categorised under the RAS categories of IT or Operational risk, or
whether it better falls under the organisations’ appetite for Strategic change. For organisations
not employing risk appetite statements, the opportunity exists to establish foundational
guidelines that inform the organisation of the type and amount of risk senior management is
willing to accept in pursuit of AI opportunities.

4 AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success

This exercise extends beyond the confines of risk management departments, necessitating
engagement from board members, senior executives, and cross-functional leaders. Together,
they are responsible for balancing the pursuit of AI-driven innovation with the prudent
management of associated risks.

Be mindful of emerging regulations such as the EU AI Act and Canada’s upcoming Artificial
Intelligence and Data Act (AIDA). These regulations mandate transparency and ethical AI usage,
ensuring that AI implementations align with both legal and ethical standards.

Proactive steps for organisations to take

As organisations navigate the evolving AI landscape, they are urged to undertake several
proactive measures:

Audit AI Integration and Use: Conducting a comprehensive audit of how AI is currently utilised
across the organisation will likely be enlightening, with more varied use than anticipated.
Understanding current and future planned AI use can illuminate risks, opportunities, and areas
for improvement.

Engage with Regulators: While regulatory oversight varies between industries in Australia,
engaging with regulators regarding AI is paramount. Understanding the perspectives and
guidelines from bodies such as the Australian Securities and Investments Commission (ASIC)
and the Office of the Australian Information Commissioner (OAIC) can guide compliance,
governance, and strategic alignment. For instance, both ASIC and the Australian Prudential
Regulation Authority (APRA) are looking more closely at AI within the financial services industry.
Proactively communicating with regulators about AI initiatives will likely foster a conducive
regulatory relationship. Given regulators themselves are grappling with AI and its challenges,
don’t be surprised if they proactively reach out to assess how your organisation is dealing with AI.

Convene Risk Workshops: Gather multidisciplinary teams to identify, assess, and strategise
on AI risks. Such collaborative efforts can unearth insights and forge consensus on the way
forward. Start with foundational questions about the adequacy of existing risk management
practices in the context of AI. Is there an AI-specific risk register, or are AI risks integrated into
the broader enterprise risk framework? Understanding the nature of AI risks, whether strategic
or operational, is essential.

Organisations should adopt a proactive approach to risk management by conducting regular

audits of AI integration, engaging with regulators, and fostering transparent communication
about AI initiatives. Continuous monitoring and frequent risk workshops are essential to stay
ahead of potential AI-related risks.

Foster Transparency and Communication: Developing a strategy for transparently

communicating AI initiatives—both internally and externally—can bolster trust, collaboration,
and regulatory compliance.

How resilient is your organisation

The resilience of an organisation is often its greatest asset. The ability to quickly adapt and
recover from disruptions, be they natural disasters, prolonged outages, or cyber incidents, can
mean the difference between continuity and catastrophe. However, true resilience extends
beyond the mere existence of business continuity, disaster recovery, and cyber response plans.
It requires a proactive approach to crisis management, involving robust and frequent testing

AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success 5

 of these plans, and ensuring leadership is deeply involved and ready to act. In this dynamic
landscape, the integration and understanding of AI and other emerging technologies also play
a pivotal role, offering new tools for enhancing organisational resilience but also introducing
new vulnerabilities that must be anticipated and managed within these plans.

It is assumed that your organisation already possesses well-documented and widely understood
plans for managing crises, business continuity (BCP), disaster recovery (DR), and cyber events.
If not, they should be developed as soon as possible. However, true resilience goes beyond
the existence of plans, no matter how detailed or technical. This e-book explores enhancing
organisational resilience by examining factors beyond initial planning, such as the critical
importance of active testing, preparing for worst-case scenarios like concurrent events,
addressing the potential unavailability of key personnel, vendors, and off-shore providers, and
the integration of AI and other emerging technologies.

Incorporating AI into Business Continuity Planning (BCP) can enhance organisational resilience
by providing scalable solutions like Robotic Process Automation (RPA) for rapid workforce
extension during crises. However, it is equally important to plan for scenarios where AI systems
may be compromised, ensuring contingencies are in place to maintain operational resilience.

By focusing on these areas, the aim is to provide insights into how organisations can not only
prepare for disruptions but also apply the axiom to “hope for the best but plan for the worst.”

Active testing: The foundation of resilience

True resilience ultimately depends on robust and frequent testing of an organisation’s crisis
management, BCP, DR, and cyber response plans. In other words, learning from your mistakes.
This is best done through planning and testing rather than during an actual event. Active
testing goes beyond theoretical plans, putting the organisation under stress by simulating
scenarios that closely mirror potential real-world events. Crises rarely occur in isolation or under
ideal conditions, and active testing of your organisation’s resilience needs to reflect this.

Your organisation should plan for increasingly complex testing of its resilience as it matures and
learns from previous tests. Over time, additional stress points should be factored into the tests,
potentially without forewarning participants. For example, in testing a disaster recovery scenario
involving a major system outage, layering a major weather event (that potentially caused the
outage) can introduce complexities such as limited staff availability, core business disruption,
and supply chain issues. The availability of vendors and issues relating to offshore or outsourced
resourcing are also useful scenarios to be factored into the tests. Such complexities test how
quickly the organisation can pivot its plans as the event unfolds, ensuring that resilience plans
are not just theoretically sound but practically viable under the most challenging conditions.

Incorporating these increasingly complex scenarios into active testing routines stress-tests the
organisation’s resilience and promotes a culture of continuous improvement and adaptability.
It compels organisations to regularly review and update their crisis management strategies,
ensuring that resilience plans remain dynamic and reflective of the current threat landscape. By
applying an ever-increasing complexity to resilience testing, organisations stand prepared not
just for isolated events but for more complex challenges the modern world will likely throw at it.

Synchronising crisis response mechanisms

As an organisation matures its resilience, it should move from testing individual plans to
synchronised testing of multiple related plans. For example, during a real-life prolonged disaster
recovery event, it is likely that after a certain amount of time the organisation’s business
continuity plan will be executed. Depending on public reaction, the organisation may also

6 AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success

need to execute its crisis management plan to manage external relations, and shareholder
or regulator concerns. It is important that this linkage between cyber/DR, BCP, and crisis
management is recognised in your organisation’s resilience testing. The goal should be to
execute these in unison to inject the complexity and chaos of real-life events into the testing.
This level of testing maturity will likely expose weaknesses in the integration points between the
plans that will not be uncovered through testing plans in isolation.

Synchronised testing allows for a comprehensive evaluation of the organisation’s resilience in

the face of the complex nature of disruptions it will likely encounter.

Navigating the unavailability of key resources

A critical aspect of resilience planning that often goes untested is the potential unavailability
of key personnel, vendors, and offshore providers during a crisis. Organisations must devise
strategies to mitigate the impact of such absences, which might involve cross-training staff,
planning for and establishing alternative vendor relationships, and ensuring that offshore
providers have their own robust BCP and DR plans in place. Crisis management, BCP, DR, and
cyber response leads should be alternated from test to test to cross-skill and expose a wider
group of staff to the process, ensuring preparedness in case they are called on to lead the
response during a real-life event.

Leveraging AI and emerging technologies

While AI and other emerging technologies offer powerful tools for enhancing organisational
resilience, they also introduce new vulnerabilities that need to be factored into your resilience
planning and testing. For instance, as organisations embrace AI technologies such as robotic
process automation (RPA), their reliance on an automated workforce increase, potentially
without fully understanding the ramifications this may have on BCP. This could pose risks
during a DR or cyber event if access to these systems is compromised. BCP plans should, for
instance, recognise the percentage of the automated workforce by function so that planning
can consider how much and by what means the workforce can be ramped up. Conversely, AI
can significantly assist in resilience efforts, especially relating to BCP and cyber detection and
prevention. In terms of BCP, for example, RPA “bots” can be quickly trained and provide an
alternative, automated workforce in the event of major resource issues. Whether considering
the positive or negative impacts of such technology, both should be factored into your
organisation’s resilience planning.

Generative AI in business: Data governance and ethical considerations

The advent of generative AI technologies has significantly altered the landscape of the modern
workplace, introducing new capabilities and efficiencies previously unimagined. Reports
from the U.S. indicate that approximately 50% of employees are already integrating tools like
ChatGPT or Gemini into their daily tasks, with Australian figures on par or even surpassing
this. Despite the increased usage, trust remains a pivotal issue, as underscored by the “Trust in
Artificial Intelligence – A Global Study 2023” conducted by the University of Queensland and
KPMG. This study, which surveyed over 17,000 participants across 17 countries, found that only
40% of Australian employees trust AI, highlighting a significant gap in comfort and confidence
regarding AI’s role in meeting management, regulatory expectations, and balancing risk versus
reward. This hints at the likelihood that employees are using publicly available AI tools without
fully understanding them, especially data governance and privacy implications.

Perhaps in recognition of this, there are a growing number of organisations restricting or

forbidding the use of generative AI tools. Examples include Disney, Bank of America, and
Samsung. Such organisations state that while they recognise the vast potential of AI, they want

AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success 7

 to better understand how it is being used and how it can be controlled before permitting its
widespread use. It is therefore not surprising that internet searches for “AI tools” have increased
by 285% over the past 24 months (about 2 years) while searches for “Responsible AI” have
increased by 4900% over the past 5 years. It is highly likely that both organisations and their
employees share concerns surrounding increasing use and reliance on AI in the workplace.

A good example of the ethical and privacy concerns surrounding generative AI usage in
corporate settings involves the handling of sensitive data. OpenAI’s Privacy Policy states that
transaction history, along with comprehensive user data, can be stored by OpenAI and shared
with OpenAI affiliates, yet the specifics of data retention periods and where data is stored
remain ambiguous. The platform may issue privacy warnings and discourage directly inputting
sensitive customer data if the question is asked within the chat, yet it simultaneously facilitates
the uploading and processing of such data via the upload attachment feature without clear
safeguards. This contradiction exemplifies the complex balance between leveraging AI’s
benefits and ensuring the protection of sensitive information.

Directors and Senior Executives should actively engage with their organisation’s Privacy Officer,
IT Department, Risk Manager, and other relevant stakeholders by asking the following set of
starter questions regarding the use of AI within their organisations:

• What data is being shared with AI? Direct this question to your IT Department and Data
Privacy Officer to understand the nature and sensitivity of the data being processed by AI
tools. This includes evaluating whether AI has been used to support the creation of report
content, what data was shared with the tools to produce the output, and the scrutiny of
the supplied results. Using a simple example, has an advanced version of a commercially
sensitive Board paper draft been provided to AI for re-wording and enhancement, and was
there any redaction of commercial or customer information prior to sharing with the AI tool?

• Are the AI tools used secure and private? This question should be posed to your IT Security
Team and Privacy Officer. Scrutinise the privacy policies of AI platforms to understand how
data is stored, shared, and protected. If a Privacy Impact Assessment (PIA) has not yet been
conducted by your organisation, request that one is performed urgently, and the results
shared with the Board. The PIA should also seek to establish where the data is being stored
and whether the organisation remains compliant with Federal data sovereignty laws and
any regulatory requirements within your industry. Asking such questions may result in
updates to your organisation’s Privacy Policy and practices.

• What controls are in place, and are they sufficient? Engage with your Risk Manager and
the team responsible for your organisation’s Data Governance Framework. Assess the
balance between harnessing AI’s full potential and implementing necessary guardrails to
protect the organisation and its stakeholders. There is no magic formula, but it is fair to
assume that either extreme end of the spectrum is not the place to be. The question is,
therefore, what controls do we already have within the organisation’s Data Governance
Framework, and whether or not these existing controls are sufficient to extend to the use of
AI tools.

• Can we trust AI output? This is a critical question for your IT Department and those involved
in data analysis and reporting. Organisations have well-established practices to screen,
recruit, and train the best employees available to them. The use of AI as a supplementary
or primary source of information used by employees is probably not subject to the same
scrutiny. In the context of AI tools like ChatGPT, which are updated with information up to
certain points in time (e.g., April 2023), how do we ensure the insights provided are accurate
and relevant and not subject to potential bias on the part of the tool provider? As part of

8 AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success

 policy consideration, when AI generates data and graphs, how critical is it to provide source
citations for transparency and to guarantee the reliability of information that influences the
organisation’s decisions?

• How do we ensure ethical use of AI? Unless your organisation has an Ethics Officer,
this question is best directed to the corporate governance or risk area. Confirm that
guidelines and policies relating to the ethical use of AI tools are in place and align with
the organisation’s values and legal obligations. While industry-specific, this includes
considerations relating to bias, fairness, accuracy of results, and transparency in AI-
generated outputs such as providing support for decision making and price setting.

• What training and policy assurance is occurring? Direct this towards your Human
Resources Department and those responsible for staff training and compliance. Establish
what training and awareness initiatives have occurred to support staff AI usage. How often
are assurance or audit activities conducted to ensure ongoing compliance of staff to ensure
tools are used appropriately, in line with training and policies?

• Are AI tools worth paying more for? Another question for the IT team and senior managers
controlling the purse strings. Will the organisation benefit from adopting the enterprise
versions of tools such as ChatGPT and Gemini? If this has not been explored, it should be to
see what inherent protections may be provided to support improved data governance and
privacy that may not be provided in the popular free versions of the tools. For example, data
encryption, separate storage of data, and adherence to privacy regulations such as GDPR are
all available in user-pay models of both ChatGPT and Gemini.

Attribute ChatGPT ChatGPT Plus Enterprise Version

(Free Version) (Paid Version)

Data Encryption In transit and at rest In transit and at rest In transit and at rest, with
options for enhanced
encryption (AES-256)
Data Isolation Data may be mixed Data may be mixed Strong data isolation ensuring
with other users with other users enterprise data is not mixed

Compliance General compliance General compliance Tailored compliance with

Certifications (e.g., GDPR) (e.g., GDPR) additional certifications (e.g.,
GDPR, HIPAA, SOC 2)
Anonymisation Basic anonymisation Basic anonymisation Enhanced anonymisation and
Techniques data handling options

User Data Control Standard deletion Standard deletion Advanced data control,
requests requests including deletion, access, and
audit logs
Security Audits Regular audits Regular audits Regular plus customized
& Penetration audits and penetration testing
Testing
API Security Standard API security Standard API security Enhanced API security,
features features including custom
authentication and
authorization options
Usage Limits Limited usage, with 50 messages every Unlimited usage, no caps
potential caps during three hours
peak times
Context Window Smaller context Larger context Up to 128,000 tokens
window window

Priority Access General access Faster response times Priority access to new features,
and Support dedicated customer support

AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success 9

 Alternatively, enquire whether there is potential for the organisation to integrate AI tools directly
into your organisation’s application framework. Most AI tools provide integration capability
so that you can query the tools from within your applications. This takes more investment of
money and time to achieve but allows for greater control over how the tools are used as well as
additional audit logging capabilities not provided within the tools directly. In both cases, if the
organisation is serious about the use of the tools, then senior leadership has a potential role in
promoting and funding the use of the most appropriate version of the tool.

The rise in AI usage underscores a pivotal moment for Directors and Senior Executives to
critically evaluate how these technologies are employed within their organisations. Ensuring
that AI tools enhance productivity and innovation while adhering to data privacy, security, and
ethical norms is paramount.

As we venture deeper into the era of generative AI in business environments, the landscape
is marked by both great potential and inherent challenges, particularly in the realms of data
governance and customer privacy. It’s clear that there isn’t a one-size-fits-all set of questions
to rely on to navigate these complexities. However, the act of questioning is indispensable.
Engaging in a diligent line of enquiry about the integration, implications, and governance
of AI technologies is crucial to ensure AI innovation co-exists in harmony with integrity and
accountability. By fostering a culture of thoughtful interrogation, senior leadership can help
businesses to not only leverage AI to its fullest potential but also ensure that they do so safely
and in alignment with government and customer expectations.

Crafting Your Roadmap to Success with AI

In another part of this e-book, the analogy was drawn between AI and the emergence of the
internet in the mid to late 1990s. AI, just like the Internet, represents unprecedented potential
and challenges for organisations. Over the next 5 to 10 years, AI will transform how businesses
operate, though predicting its exact impact is difficult given the rapid evolution of AI technology
and responses from industries, regulators, and governments. However, it is already clear that AI
is enabling organisations to innovate faster, streamline operations, and engage with customers
in new, albeit potentially less personal ways. In this environment of rapid change, defining an
AI journey is no small feat for organisations. It requires detailed and frequent strategic planning
and a clear understanding of where you currently stand and where you wish to go. This section
outlines practical steps and key considerations for crafting a successful AI roadmap that is
highly aligned with your organisation’s strategic goals.

Recognising your starting point on the AI journey

It is important to acknowledge that each organisation’s AI journey has a different starting point.
Some organisations are at the dip-the-toes-in-the-water stage, still largely coming to terms
with what AI means and what it can do. Others are significantly more advanced, using AI to run
their operations and help make decisions. Understanding how AI is currently used within your
organisation is a critical first step for driving strategic and comprehensive AI adoption. Examples
of the forms AI may take within organisations include:

• Chatbots and Virtual Assistants:

Customer service channels have been transformed by chatbots and virtual assistants, which
offer 24/7 support and instant responses to customer queries. These AI-driven interfaces can
handle everything from FAQs to assisting with bookings and purchases. Many organisations
already embrace this kind of AI, and although not overly sophisticated, such technology
plays an important role in optimising customer service availability.

10 AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success

• Generative AI Tools: It is almost certain tools like ChatGPT and Gemini are being used
within your organisation, although the full extent of use may not be known. The current
hype around such tools is extreme, making them the most identifiable example of AI to
the layperson. These applications are used for drafting documents, analysing datasets,
generating code, and more, all at speeds no office worker can match.

• Robotic Process Automation (RPA): RPA is widely adopted for automating routine, rule-
based tasks such as data entry and complex transaction processing. By mimicking human
actions within digital systems, RPA bots can enhance operational efficiency and accuracy.

• Specialised AI Applications: Different industries are deploying specialised AI tools to address

challenges unique to their sector. For example, within the insurance sector, AI-powered
decision support systems are revolutionising how claims are processed, using machine
learning to assess claims, analyse patterns, and flag potential fraud. While use is not yet
endemic, and there are still regulatory and ethical challenges to overcome, specialised AI is
an increasing area of interest for organisations, especially as industry-specific AI offerings
emerge onto the market.

• Other AI Technologies: Organisations may also be utilising additional AI technologies, such

as machine vision for quality control in manufacturing settings, natural language processing
(NLP) for analysing customer sentiment in marketing campaigns, or sophisticated machine
learning models that offer strategic planning and decision-making support. It is important
to note that some of these applications may not even be marketed as forms of AI, so the
presence of this type of AI within organisations may not be evident. This highlights the need
for a collaborative, cross-departmental effort to fully understand and identify existing AI
capabilities.

Taking stock of the AI tools and technologies your organisation currently employs is a critical
first step in developing an overarching AI strategy. This initial review not only highlights AI’s
extensive impact on your operations but also identifies potential areas for further innovation
and value creation with AI. Moreover, it represents one of the key challenges in developing an AI
strategy or roadmap—that is, your organisation is already on its AI journey before it has clearly
decided on the direction it is heading and, to the best of its knowledge, what the destination
is. When you factor in the pace at which AI is evolving, this realisation demands a strategic
discussion on how the organisation can best try to stay in control of its AI journey to achieve a
more strategic approach to AI adoption.

AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success 11

 Crafting your roadmap to success with AI

Before diving into the specifics of an AI roadmap, it’s essential to stress that the AI journey exists
to support and enhance your organisation’s core strategy. Unless you are OpenAI, Google, or
a similar company selling AI products, your AI roadmap will be a journey of adding capability
to your organisation to accelerate and achieve the organisation’s strategic objectives. The
development of an AI roadmap becomes a deliberate process of aligning AI capabilities with
strategic priorities, ensuring that every step taken in AI adoption directly contributes to the
organisation’s overarching goals.

Here are some key elements that should be considered:

1. Define Strategic Objectives and Alignment

Ensure alignment between AI initiatives and business priorities. It’s critical that AI projects
are not pursued in isolation but are integrated into the broader business strategy,
contributing to the organisation’s key objectives. The AI roadmap should be seen as an
important journey running in parallel to the organisation’s strategic roadmap to ensure
that AI capabilities are in place by the time they are needed to deliver the defined strategic
outcomes.

2. Identify Use Cases and Prioritise Projects

Map out potential AI use cases. Based on the initial assessment of current AI usage and
organisational needs, identify new areas where AI can add value. Consider both short-term
wins and long-term transformative projects.

Prioritise projects based on impact and feasibility. Evaluate potential projects based on
their expected value to the organisation, implementation complexity, and alignment with
strategic goals.

3. Assess Data Readiness and Infrastructure Requirements

Evaluate the quality and availability of data. In its many forms, AI relies on clean, accurate
data. Many organisations face data quality challenges that are already being addressed to
meet privacy and regulatory requirements. Recognising your organisation’s dependency
on data cleansing initiatives within your AI roadmap will be important to ensure that AI
capabilities are optimised and timely. Given data cleansing takes time and is not easily
achieved, it represents a potential risk to successfully delivering your AI roadmap.

Determine infrastructure and technology needs. Identify the technological requirements for
implementing AI solutions, including all elements of architecture (hardware, software, and
cloud services). Consider both current capabilities and future needs.

4. Plan for Talent and Organisational Change

Identify skills and talent needs. Determine the expertise required to develop, implement,
and maintain AI solutions. This may involve training existing staff, hiring new talent, or
partnering with external experts.

Prepare for organisational change. Implementing AI will require changes to processes, roles,
and culture. Your AI Roadmap should include the organisational change management
initiatives required to support the successful adoption of AI.

12 AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success

5. Keep Business Continuity Front of Mind
When developing your AI Roadmap, it’s crucial to factor in the implications for Business
Continuity Planning (BCP). This ensures that AI initiatives align with and support your
organisation’s resilience strategies.

Consider AI as a vital component of your BCP. For example, Robotic Process Automation
(RPA) can serve as a means of rapidly training and extending your workforce capacity,
offering scalability to ramp up operations in times of resource constraint or operational need.
In this sense, AI can be viewed as enabling operational resilience.

The flip side of this, equally important to factor into your AI Roadmap development, is that
use of AI can also pose a risk to business continuity if inadequate redundancy and provisions
for prolonged AI outages are not adequately catered for.

Either way, it is important to ensure that your AI roadmap calls out BCP planning and
development to mitigate the risks and better support your organisation’s resilience.

A detailed article covering business continuity, including AI threats and opportunities, can
be found here.

6. Establish Governance and Monitoring Mechanisms

Set up governance structures for AI initiatives. Define roles and responsibilities for AI project
oversight, decision-making, and ethical considerations.

Implement monitoring and evaluation processes. Establish metrics and KPIs to measure the
performance of AI projects against objectives. Regularly review and adjust projects based on
performance data and evolving business needs.

Develop ethical guidelines for AI use. With the rapid adoption of AI technologies, there is an
inherent risk that ethical considerations and regulatory compliance may not automatically
be front of mind for employees engaging with AI. It’s imperative, therefore, to proactively
incorporate ethical guidelines, policies, and compliance measures into your AI Roadmap.
This includes staying informed about existing and emerging regulations that are pertinent
to your industry, ensuring that your roadmap is not only internally sound but externally
compliant. It is essential to address and mitigate ethical risks associated with AI, such
as biases in decision-making, privacy considerations, and lack of transparent usage. By
establishing clear principles for responsible AI use and promoting widespread awareness
within the organisation, you can foster an ethical AI culture that aligns with both your
strategic objectives and societal values.

AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success 13

 Identifying key stakeholders in shaping the AI roadmap

Your organisation’s I.T team and/or key I.T outsource partners will play a key role in delivering
the AI Roadmap. However, defining and delivering the roadmap are very different things. Given
the previous point made about the AI Roadmap existing to help deliver strategic outcomes, a
much wider audience must be involved in both the crafting and delivery of the AI Roadmap.
A collaborative approach spanning the organisation will be required to ensure the roadmap is
sound and delivered. Key stakeholders to consider include:

• Strategy Team: Since the AI Roadmap exists to support strategy, the Strategy Team
should play a central role in defining the direction of the AI initiatives. Members of the
strategy team need to acquire a deeper understanding of AI than they currently possess.
This may require targeted training sessions to fully grasp AI's capabilities and limitations,
and potentially introducing talent into the team either from outside the organisation or
via transferring expertise from the I.T or innovation functions. This will be important to
ensure Strategy can provide a significant voice in AI adoption to ensure it stays focused on
delivering the organisation’s objectives.

• I.T and Innovation Teams: While I.T's involvement is crucial for addressing the technical
feasibility and implementation of AI solutions, their collaboration with the Strategy Team
ensures that technological deployments are not just technically sound but also strategically
focused. Upfront effort should be made to ensure that the I.T and Strategy teams are fully
aligned and working towards a common goal.

• Senior Leadership: The commitment and involvement of the organisation's senior

leadership and Board are essential for securing necessary resources, fostering an
organisational culture receptive to innovation, and guiding the strategic direction of AI
initiatives. Sponsorship for the AI Roadmap should be given to an appropriate senior leader
to promote and support the roadmap’s delivery.

• Operational Teams: Representatives from various operational areas impacted by

or contributing to AI projects should be involved to provide insights into practical
considerations, challenges, and opportunities from the frontline perspective.

• Legal, Risk and Compliance Teams: Given the ethical, privacy, and compliance issues
surrounding AI, involvement of representatives from these teams is needed to ensure AI
initiatives adhere to all relevant laws, regulatory, and ethical standards. These teams may
also need to act as a conduit to communicate with regulators and industry bodies regarding
AI and its usage within the organisation.

• Human Resources: It is sometimes easy to get caught up in the technology of AI and

overlook the human element. To ensure this doesn’t happen, involvement of HR is key to
addressing the workforce implications of AI adoption, including training needs, potential
changes in job roles, and the cultivation of an AI-ready culture.

By involving these key stakeholders in the AI roadmap development process, organisations

can ensure that their AI strategies are not only technically viable but also closely aligned
with organisational strategy. This collaborative approach ensures that AI initiatives are
comprehensive, strategic, and equipped to deliver substantial value to the organisation.

14 AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success

Implementing the AI roadmap

While this e-book is more focused on defining the AI roadmap, there are important delivery
considerations worth calling out, as recognising these factors when defining the roadmap will
help drive success.

Phased Implementation Approach: With the rapid pace of AI development, it is highly likely
that many revisions of the roadmap will occur along the journey. A phased approach to
delivery, focusing on delivering smaller, discrete capabilities, is preferable to broadly scoped,
prolonged initiatives that will likely change or become defunct in the short to medium term.
Adopting a phased approach allows for flexibility, learning, and adjustment as AI continues to
rapidly evolve.

Resource Allocation: The AI Roadmap should emphasise the importance of allocating the
necessary resources, including budget, personnel, and technology, to support the successful
implementation of prioritised AI projects.

Partnerships and Collaborations: An isolated approach to AI Roadmap development or

implementation is less likely to succeed than one utilising partnerships with technology
providers, regulators, and industry bodies.

Managing and evolving the AI roadmap

Monitoring and Evaluation: It is important to recognise the very high likelihood of changes
to the AI Roadmap over time. This may be due to changes in organisational strategy but
more likely due to the rapidly evolving nature of AI. Strategies for ongoing monitoring and
evaluation of AI initiatives against organisational objectives and AI advancements should be
factored into the AI Roadmap. This implies regular checkpoints need to be included within the
roadmap to allow for re-evaluation of strategic priorities and AI capabilities.

Operational Demands: Emphasising the need for strategic resource allocation across the AI
project lifecycle is crucial. As AI initiatives are delivered, the operational demands of managing
these can divert resources and focus away from future AI initiatives, creating an “operational
drag” that could potentially slow AI Roadmap delivery. To mitigate this, the AI Roadmap
should plan for the resourcing of AI initiatives from start through to post-implementation
support. One potential way to achieve this is to plan for dedicated teams for the ongoing
operation of AI solutions. This ensures a steady focus on new developments in the roadmap
while ensuring the performance of existing AI systems.

Learning and Adaptation: Stress the importance of fostering a culture of learning and
adaptation, where insights from AI projects are used to inform future initiatives and strategy
adjustments. These should be included as activities within the roadmap to ensure that lessons
can be learned and applied to future initiatives.

AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success 15

 Leveraging industry insights: The value of learning from others' AI successes

Whether you are defining or actively delivering your AI roadmap, there is value in regularly
looking outside of the organisation for inspiration and guidance. While each company's AI
journey is unique, the lessons learned from those who have successfully navigated similar paths
can provide critical insights. As AI continues to evolve and organisations embrace it, there will be
an increasing volume of ideas and cautionary tales available to distil into key learnings to factor
into your organisation’s AI Roadmap. Encouraging your strategy and implementation teams to
regularly review case studies from within and outside of your industry can help identify proven
strategies, realistic delivery timeframes and approaches, and methods of problem-solving
you may otherwise not have considered. Integrating these learnings into your AI roadmap not
only provides a broader perspective but also helps mitigate risks by leveraging the collective
experience of the wider business community.

Quick guide

• Acknowledge the unique starting point • Assess data quality and infrastructure
of your organisation’s AI journey, ranging requirements to support AI
from initial exploration to advanced implementation effectively.
implementation.
• Involve Legal, Risk, and Compliance
• Seek to understand the types of AI teams early in the AI journey to address
available to your organisation – from potential risks, ensure regulatory
chatbots, virtual assistants, generative compliance, and navigate ethical
AI tools, RPA, through to specialised, considerations effectively.
industry-specific applications.
• Develop ethical guidelines for AI
• Ensure the AI roadmap development use, addressing biases, privacy, and
is strategy-led, not IT-driven, to transparency to foster an ethical AI
ensure alignment of AI initiatives to culture.
the organisation’s broader strategic
objectives. • Set up governance structures and
implement monitoring and evaluation
• Ensure AI Roadmap initiatives align processes to oversee AI initiatives
with and directly contribute to the effectively.
organisation’s overarching strategic
goals. • Identify skills, talent needs, and
organisational changes required to
• Involve key stakeholders across the support AI adoption and develop an AI-
organisation, including Strategy, IT, and ready culture.
HR teams, to ensure a comprehensive,
collaborative approach to strategic AI • Prepare for frequent and significant
adoption. changes of direction to your AI Roadmap
as AI continues to rapidly evolve
• Conduct a thorough review of current and provide new opportunities and
AI usage within your organisation as challenges.
a critical first step in developing an AI
strategy. • Draw inspiration from industry success
stories to inform your AI strategy and
• Map out potential AI use cases and navigate the evolving landscape of AI
prioritise projects based on impact, adoption.
feasibility, and strategic alignment.

16 AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success

Conclusion

We have explored the transformative power of artificial intelligence (AI) and how it can be
strategically integrated into your organisation to achieve core objectives and drive innovation.
As AI continues to evolve, organisations must navigate both unprecedented opportunities and
significant challenges.

• Strategic alignment: • Ethical considerations and compliance:

AI initiatives must align with business Developing ethical guidelines for AI
priorities to ensure that AI projects are use is imperative. Organisations must
integrated into the broader business address biases, privacy, and transparency
strategy. This alignment ensures that to foster an ethical AI culture. Ensuring
AI capabilities are developed in tandem compliance with existing and emerging
with organisational goals, facilitating regulations helps mitigate risks and
a seamless integration that enhances aligns AI initiatives with legal and ethical
overall strategic outcomes. standards.

• Phased implementation: • Learning from industry insights:

Adopting a phased approach to AI Regularly reviewing case studies and
implementation allows for flexibility, industry insights provides valuable
learning, and adjustment. Delivering lessons from others' successes and
smaller, discrete capabilities enables challenges. Integrating these learnings
organisations to adapt to the rapid into your AI roadmap can offer new
pace of AI development and refine their strategies, realistic delivery timeframes,
strategies based on real-world feedback and innovative problem-solving methods.
and evolving technology.
• Continuous monitoring and adaptation:
• Comprehensive stakeholder Implementing monitoring and evaluation
involvement: processes is vital for overseeing AI
Successful AI adoption requires the initiatives. Regular checkpoints and
involvement of a broad range of performance metrics help organisations
stakeholders, including the Strategy stay aligned with their strategic goals
Team, IT and Innovation Teams, Senior and adapt to changes in technology and
Leadership, Operational Teams, Legal, organisational priorities.
Risk and Compliance Teams, and
Human Resources. This collaborative • Resource allocation and organisational
approach ensures that AI initiatives are change:
comprehensive and strategically focused. Allocating the necessary resources,
including budget, personnel, and
• Data readiness and infrastructure: technology, is critical for AI success.
Evaluating the quality and availability Preparing for organisational changes,
of data is crucial for AI success. Clean, such as process adjustments and new
accurate data is the foundation of roles, ensures a smooth transition and
effective AI solutions. Additionally, effective AI adoption.
identifying and addressing infrastructure
needs, including hardware, software, and
cloud services, is essential for supporting
AI implementation.

By following these practical guidelines and insights, your organisation can navigate the com-
plexities of AI adoption with confidence, ensuring that AI not only drives innovation and efficien-
cy but also aligns with your overarching strategic goals. The journey from buzzwords to board-
rooms requires thoughtful planning, continuous learning, and strategic execution. This e-book
provides the tools and insights needed to embark on this transformative journey and achieve
lasting success with AI.

AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success 17

 References and further reading

Books
1. "Artificial Intelligence: A Guide for Online resources
Thinking Humans" by Melanie Mitchell 10. OpenAI - openai.com - A leading
- This book provides a comprehensive research institute and company that
overview of AI, explaining its capabilities develops advanced AI models, including
and limitations in an accessible way. GPT-3.
2. "Life 3.0: Being Human in the Age of 11. AI Ethics Guidelines Global Inventory
Artificial Intelligence" by Max Tegmark - - ai-ethics-guidelines.org - A
A thought-provoking book that explores comprehensive collection of AI ethics
the impact of AI on the future of life on guidelines from around the world.
Earth.
12. Kaggle - kaggle.com - A platform for
3. "Prediction Machines: The Simple data science competitions and datasets,
Economics of Artificial Intelligence" useful for practicing and learning
by Ajay Agrawal, Joshua Gans, and Avi machine learning and AI.
Goldfarb - This book discusses how AI
changes the cost structure of predictions 13. Towards Data Science -
and the implications for business and towardsdatascience.com - An online
society. publication sharing concepts, ideas, and
codes related to data science and AI.
4. "The Fourth Industrial Revolution" by
Klaus Schwab - A book that explores the 14. arXiv - arxiv.org - A repository of
technological revolution and its impact on electronic preprints (known as
industries and societies. e-prints) approved for publication after
moderation, covering areas including AI,
5. "AI Superpowers: China, Silicon Valley, machine learning, and data science.
and the New World Order" by Kai-Fu Lee -
An insightful look at the global AI race and
its implications for the future. Reports
15. "The Future of Jobs Report 2020" by the
Articles World Economic Forum - A report that
provides insights into how AI and other
6. "The Malicious Use of Artificial technologies are transforming the job
Intelligence: Forecasting, Prevention, market. Available online: weforum.org
and Mitigation" - A collaborative report
by researchers from various institutions 16. "Artificial Intelligence and the Future
that discusses potential risks of AI and of Work" by McKinsey & Company - A
strategies to mitigate them. Available report exploring the impact of AI on
online: arxiv.org various industries and job roles. Available
online: mckinsey.com
7. "Trust in Artificial Intelligence – A
Global Study 2023" by the University 17. "AI in Business: The State of Play and
of Queensland and KPMG - This study Emerging Trends" by Deloitte - A report
provides insights into global trust levels in that discusses current AI applications
AI and its implications for businesses. in business and future trends. Available
online: deloitte.com
8. "The Ethics of Artificial Intelligence" by
Nick Bostrom and Eliezer Yudkowsky
- An article that explores the ethical By exploring these references and further
considerations of AI development and reading materials, you can gain a deeper
deployment. Available online: nickbostrom. understanding of AI, its applications,
com ethical considerations, and the strategic
implications for your organisation.
9. "Artificial Intelligence and the End
of Work" by Matthew Cole - An
article examining the impact of AI on
employment and the future of work.
Available online: cambridge.org

18 AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success

The AI journey - From exploration to implementation

AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success 19

 AI Ethics and Compliance
• Other relevant regulations: Stay
Checklist updated and comply with other relevant
By following this comprehensive checklist, regulations and industry standards.
your organisation can ensure that AI
initiatives are ethically sound, transparent,
and compliant with relevant regulations, Ethical guidelines development
fostering trust and accountability.
• Ethical principles: Develop and formalise
a set of ethical principles guiding AI use
Data privacy and security within the organisation.
• Data encryption: Ensure all data, both • Stakeholder input: Involve a diverse group
in transit and at rest, is encrypted using of stakeholders in developing ethical
industry-standard encryption methods. guidelines.
• Access controls: Implement robust • Ethical AI framework: Create a framework
access controls to restrict data access to to integrate ethical guidelines into AI
authorised personnel only. development and deployment processes.
• Data anonymisation: Use anonymisation
techniques to protect sensitive Employee training and awareness
information.
• Training programs: Develop and
• Data retention policies: Establish and implement comprehensive training
enforce clear data retention and deletion programs on ethical AI practices.
policies.
• Regular updates: Provide ongoing
training to keep employees updated on
Bias and fairness new regulations, standards, and ethical
considerations.
• Bias identification: Conduct regular audits
to identify potential biases in AI models. • Awareness campaigns: Run internal
awareness campaigns to promote ethical
• Bias mitigation strategies: Implement
AI use.
strategies to mitigate identified biases,
such as rebalancing training data and
using fairness-aware algorithms. Regular ethical reviews and audits
• Diverse data sets: Ensure training data is • Ethical review board: Establish an ethical
representative and diverse to reduce bias. review board to oversee AI projects and
ensure they align with ethical guidelines.
Transparency and explainability • Audit schedule: Set a regular schedule for
ethical audits of AI systems and processes.
• Model explainability: Use techniques that
make AI model decisions understandable • Feedback mechanism: Implement
to non-technical stakeholders. mechanisms for employees and
stakeholders to report ethical concerns or
• Documentation: Maintain thorough
violations.
documentation of AI models, including
data sources, model development • Continuous improvement: Use audit
processes, and decision logic. findings and feedback to continuously
improve AI ethics and compliance
• User communication: Clearly
practices.
communicate how AI decisions are made
to end-users and stakeholders.
Monitoring and reporting
Compliance with regulations and • Performance metrics: Define and track
standards key performance metrics related to AI
ethics and compliance.
• GDPR compliance: Ensure all AI practices
comply with the General Data Protection • Regular reporting: Provide regular reports
Regulation (GDPR) requirements. on AI ethics and compliance to senior
leadership and stakeholders.
• HIPAA compliance: For healthcare-related
AI applications, ensure compliance with • Incident response: Develop and
the Health Insurance Portability and implement a response plan for addressing
Accountability Act (HIPAA). ethical breaches or compliance issues.

20 AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success

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AI Buzzwords to Boardrooms: Crafting Your Roadmap To Success 21

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