Artificial Intelligence (AI) is integrated at the heart of economic models, operational dynamics, and the process of decision-making within organisations, where its usage impacts business models in the same vein as cultural organisations and control mechanisms.
This rapid transformation is creating new opportunities, while at the same time raising fundamental questions on governance, ethics, responsibility, and strategic supervision. For the Board of Directors, the issue is not restricted solely to understanding emerging technologies but also to assessing how AI is redesigning the dynamics of decision-making, redefining roles, and altering the structure of responsibilities within an enterprise.
It is in this context that the advocacy forum of the Mauritius Institute of Directors (MIoD), the Directors Forum, in collaboration with PwC Mauritius, unveiled on December 4 its new publication entitled “Artificial Intelligence Promotion and Governance”.
The 10th edition offers a structured reading on challenges and opportunities posed by governance, in relation to the usage of AI in organisations. The document puts to the fore several implications for directors: understanding of the different use cases, risks identification, principles of transparency and fairness, strategic alignment, and the role of the board in the management of digital systems that directly impact the performance and conduct of business.
The launch was also enriched by the performance of East Market Africa Regional Consulting & Risk Services Leader of PwC, Vikas Sharma, who shed light on the regional perspective pertaining to the evolution of AI in Africa. He threw insights on emerging trends on the continent and strategic thinking that is needed across boards.
CEO of MIoD and Chairperson of the Directors Forum, Sheila Ujoodha, commented: “The 10th publication comes at a time when the boards of directors must grapple with technological transformation that directly impacts strategy, performance, and organisations’ responsibility. The aim of the document is to serve as a guide to directors to better understand the usage of AI, identify risks, and ask essential questions to guide its integration with ethics, transparency, and in a judicious manner. AI is not just a question of technology: It’s an issue of governance and leadership. I show my recognition to PwC Mauritius and members of the Directors Forum for their contribution and commitment to strengthening strategic thinking at the board level.“
The ICT Minister Dr Avinash Ramtohul emphasises: “Artificial Intelligence opens a new phase of development for the economy by transforming industries, public services and the capacity to innovate. To ensure that Mauritius makes strides in this transition phase, there is a need to structure an environment where emerging technologies are integrated responsibly, while at the same time, with ambition and vision. This new publication by the MIoD and the Directors Forum comes at a strategic time. It offers directors and executives an essential understanding of the transformation already brought upon by AI, in the way organisations operate, leveraging value and eyeing the future. Such initiatives bring about a concerted national effort to prepare the country towards a digital future marked by more agility, innovation, and sustainability. »
On the other hand, Risk Assurance Services Partner and Sustainability Leader at PwC Mauritius, Julien Tyack, has emphasised: “AI is no longer a simple tool: It changes the way organisations operate, decide and innovate. It offers an amazing opportunity, while at the same time, it poses several concrete questions: How to stay transparent? How to avoid drifts? Who is responsible if things go wrong? These are questions that the Position Paper seeks to address while at the same time helping executives to make the difference between its usefulness and risk areas posed by AI. It offers clear benchmarks to maintain a firm grip on governance in a world where algorithms can directly influence businesses. By being a part of the 10th edition, we will offer continuous support to the MIoD in its mission: to help companies adopt a modern, concrete governance, suited to the current challenges.“
Since its inception in 2012, the Directors Forum of the MIoD, in collaboration with PwC, has become an essential advocacy platform in terms of corporate governance on the island.
With this tenth publication, the forum continues its mission: to offer administrators clear benchmarks and reflection tools to accompany the transformations that redefine business conduct.
