Boards have always been aware of the importance of emerging technologies and how they can affect industry. Whether it’s cryptocurrency, augmented reality, or cloud storage, directors are expected to understand what’s coming. Plus, they need to project how new technology might affect their company’s operations. They also need to consider the potential to utilize the technology for growth, and much more.
Artificial intelligence isn’t a brand new technology. However, its business-related impact is growing in leaps and bounds. For instance, AI is poised to have a significant influence on how big data is used not only in an internal auditing sense, but also as a decision-making tool for leaders.
Board members and their companies will be able to use AI to examine data and make substantial alterations to customer service. AI allows for constant tailoring and for creating an experience that is unique to each customer or client based on how their data is interpreted by AI systems.