Only a quarter of companies around the world discuss artificial intelligence at every board meeting, according to a new survey.

A poll of 750 board members and executives, by the consultancy Protiviti, finds that just 26% table AI at every board meeting, among companies that expect a high return on investment (ROI) from the technology

Close to a third of those seeing the greatest benefits from the technology (29%) say AI is “reserved” for strategy meetings only.

Of those who see a low level of perceived ROI, almost half “rarely” discuss AI or only discuss if “management brings it up”.

Protiviti’s report says many boards “struggle” with a lack of expertise; little strategic clarity; and confusion over ROI.

“As a result, they may tend to delegate technology issues to management. This is typical for companies still in the early, reactive stages of AI governance in which the board may view AI as a peripheral ‘tech issue’ rather than a core strategic, operational and legal priority.”

Protiviti adds a warning. “Without regular updates on the evolving nature of organisational use of AI, the board’s input into AI strategy and governance diminishes.”

The biggest concerns about using AI are worries about managing the risks connected to AI innovation, and limitations imposed by existing technology. But lack of talent and skills are also a concern—as is a lack of understanding about how AI can be used.

Unique governance challenge

During a recent panel discussion hosted by Board Agenda and Diligent, the case was made for AI to be treated as a unique governance challenge.

Maria Axente, a former head of AI public policy at PwC and currently serving on an AI advisory board at NATO, said companies would have to experiment with AI but boards should ensure it is done safely. “We should encourage people, on the one hand, to be creative and innovative; but, at the same time, provide them with the safeguards that allow them to innovate safely and don’t increase the overall risk.”

The Protiviti report says, in many organisations, AI has moved from the “experimentation phases” to the “show me the money” era.

“The board’s oversight must evolve and advance. With few exceptions, directors should discuss AI at every meeting, improve how they interact with the c-suite on AI matters, request regular management briefings on AI developments affecting the organisation and delve into increasingly strategic topics.”