Guernsey Businesses Are Behind On AI

Wednesday, 13 March 2024 12:19

The Institute of Directors surveyed its members on their use of Artificial Intelligence and how the technology could impact their organisations.

The results of that survey were shared with Guernsey's business community at a seminar today (13 March).

Half did not believe that their boards are making good use of AI in their boardroom.
Only a third believe that their board is making sufficient progress in overseeing the use of AI in the organisation.
Only a quarter believe their strategy has been updated to properly reflect the opportunities and risks arising from AI.

Independent corporate governance consultant, Bob Semple, spoke at the event and says the technology needs to be embraced:

"The train has left the station, this is happening whether people like it or not.

People will have justifiable concerns about some of the risks, so we certainly have to give that attention, and we have to look at the ethical issues and so on. But the range of opportunities is so exciting."

He says employees shouldn't view the technology as a threat to their job, but rather as a tool to improve their efficiency:

"We're facing enormous change in the workplace, with a fanatic opportunity for staff to get a whole lot of boring work done by AI, and to give us the opportunity to turn to new skills and new areas.

So that is the real imperative for people to think about - how do we get the best out of this and make our lives better and more interesting in the future."

Independent corporate governance consultant, Bob Semple.