AI is widely seen as strategically significant, with organisations at different stages of AI implementation, organisational readiness and governance.
This is one of the key messages emerging from a small-scale, qualitative online survey conducted by Accountancy Europe and ecoDa among European company directors across various industry sectors. Based on up to 87 responses, the survey provides an indicative picture of how respondents view AI’s strategic significance, organisational readiness and governance, as well as boards’ preparedness to oversee AI.
The findings show that embedding AI into business strategy remains work in progress. Many organisations are still developing the foundations needed to deploy and scale AI responsibly, with skills, knowledge and training, data and technology limitations, and challenges around the business case and return on AI investment among the main barriers.
Boards are particularly concerned about cybersecurity, privacy and data misuse, as well as accuracy and reliability. Board capability and oversight are also still evolving, with opportunities to strengthen AI literacy, oversight of AI investments and consideration of AI’s workforce implications.
Overall, the findings highlight opportunities to strengthen the governance and organisational capabilities needed to realise AI’s potential, as well as to strengthen boards’ oversight and use of AI.
