Responsible AI: strategic, operational, and governance implications

June 2023

The rapidity with which AI technologies like ChatGPT have emerged and spread has made board and executive oversight incredibly hard. According to research conducted by the Institute of Directors, over 86% of businesses already use some form of AI without the board being aware. One director stated, “The only time in my boards where this came up was during my IT review, and already one-third of the workforce was using this.” With the challenge of AI in mind, on June 8, 2023, the Ethics, Culture, and Compliance Network (ECCN) gathered virtually for a conversation with Steve Weber, a partner at Breakwater Strategy, about board oversight of AI—its technological and strategic possibilities, its risks, and its oversight challenges—along with the broader social, ethical, and governance considerations.