4boards.ai & the new European Commission digital strategy

On the 19th of February 2020, the European Commission presented ”A European Strategy for Data” and the ”White Paper on Artificial Intelligence (AI)”. Our 4boards.ai team has taken a deep dive into these documents and looked into how our research and the new strategies presented in these documents align to drive value creation in European businesses.

Our 4boards.ai research is a two-year project funded by Vinnova – Sweden’s Innovation Agency. The objective of our project is to build and disseminate research-based knowledge and a set of best practices and tools to enable corporate and other organizational boards to successfully govern and leverage AI in their innovation and sustainability efforts. Recently, we published our initial findings in a book chapter under Routledge, “AI leadership and the future of corporate governance: Changing demands for board competence”. We will soon publish an updated version in an e-book format.

At the base of our research is the fundamental principle that corporate boards and top management are ultimately responsible for a firm’s success. They influence firm performance through their strategic decisions – decisions that may either lead a business towards prosperity or worse put the firm at considerable risk, potentially taking it to its demise. Today boards are increasingly challenged in their decision making. Rapid advances in digital technologies, and in particular artificial intelligence (AI), along with dynamic and complex competitive environments are inducing established firms to develop new competences and processes and undergo larger digital transformation programs. These changes need to be guided and supervised at the board level, and just as we have been investigating how boards should guide and supervise the implementation of AI so has the European Commission been looking into AI under EU law and fundamental rights.

Illustration4boardsai2

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The Board’s role in strategy, governing ecosystems and artificial intelligence

The board dinner event, “The Board’s role in strategy, governing ecosystems and artificial intelligence”, held in Stockholm, Sweden in mid-November 2019, was co-organized by two board research projects: SISU Boards led by Professor Mats Magnusson of the Royal Institute of Technology (KTH) and 4Boards.ai led by Professor Robin Teigland of Chalmers University of Technology and by Chairman Liselotte Engstam of Digoshen/Innovisa engaged in both research projects. The event, as well as both research projects, are co-sponsored by Vinnova – the Swedish Innovation Agency. The objectives of the evening included the following:

  • To learn more about the topics of strategy, governing ecosystems and AI from two globally leading experts
  • To share experiences and potential best practices with other board members
  • To contribute to board research under confidentiality.

Boards event 4boardsai

The event, hosted by the company Creuna, was divided into two sets of activities: 1) speaker presentations and 2) roundtable discussions. Speakers included two globally leading experts, Anastassia Lauterbach and Sebastian Herzog, as well as Researchers Chairman Liselotte Engstam and Professor Mats Magnusson. To read a summary of the speakers’ presentations as well as some insights gained through roundtable discussions with event participants, please go to this page.

4boards.ai presents at IMIT 40 years

 

4boardsai presentation in IMIT 40years

Our research project 4boards.ai had the pleasure to present at the celebratory event for IMIT’s 40 years, on the 24th of October 2019.

During the presentation, Liselotte Engstam and Fernanda Torre from the 4boards.ai team presented the Boards 4 AI Leadership Matrix and collected date from the participants in the room by conducting a  Mentimeter flash-survey. Check the presentation slides in SlideShare.

IMIT, a partner in the 4boards.ai project, is a foundation that aims to support research and development in technical, industrial and administrative renewal.