EY Publishes Report on Lessons for Boards in Technology Innovation

Ernst & Young recently published a paper titled, “Four Lessons for Boards in Overseeing Emerging Technology” that highlights the need for boards to understand the potential risks and unintended consequences of technological innovation. In the evolving field of artificial intelligence (AI), advanced language models, and the metaverse it is important for the board to have “actionable discussions about how they can lean into these technologies immediately and use them to reorient business and operating models toward growth and productivity.” The paper discusses the need for boards to be curious about emerging technology, be hands-on, embrace innovation without being reckless, and be inclusive and responsible when implementing new technologies. While the paper does focus on corporate board examples, it is important for fund boards to appreciate the changing technology landscape and how it may impact the board’s oversight role.

Click here to read the full EY report “Four Lessons for Boards in Overseeing Emerging Technology.”