AI Competence at Board Level
In an upcoming study by Amrop’s Global Digital Practice, we will explore differing approaches to leadership, and the ability to derive competitive advantage, with respect to the application of AI.
In preparation, we have been speaking with leaders of midsized companies, venture businesses and larger corporations who have all shared their experiences in leveraging AI strategies for their organization and customers.
Among our interviewees is Simo Dragicevic, founder of BetBuddy, a pioneer in data analytics and responsible gambling, which was acquired by Playtech Plc in 2017. Dragicevic also sits on the Boards of Canada's Responsible Gambling Council and the GB Gambling Commission, as a member of its Digital Advisory Panel. He talked to Mikael Norr, Managing Partner at Amrop in Stockholm and a member of Amrop’s Global Digital Practice, about the AI-related competencies required at Board level and how to get there.
Norr asked Dragicevic to think about the last leadership team he was part of, as well as the non-executive Board of directors he’s currently part of: “What type of competencies do you see that you’ll be needing in the future that are perhaps lacking now? Is there a need for specialist competencies to deal with AI-related matters?”
“What I’ve see is that when you don’t have anyone who has the tech, data, machine learning or AI experience, there’s a nervousness about trying to approach and tackle it in your own organization,” said Dragicevic. “A recent example for me is the UK Regulator where I have an advisory role, and which, as a quasi-governmental organization is very analog - a lot of people have been in their roles for very many years. There was an understanding that they’re missing a huge opportunity in terms of doing their job better with the help of data, so a couple of years ago they said that they needed a data strategy and to modernize, to be a modern regulator. The default was to bring in consultants to help them think through the problems and to then hire an executive who will lead the new program. Now, I think, on both fronts it was probably the wrong thing to do. Consultants can be very useful in facilitating progress, kickstarting things, but there wasn’t enough curiosity from the executives – it was more of: let’s get some consultancy in and give them the task to help us figure this out, rather than: what do we actually want to do here and how do we want to change ourselves, how are we going to make gambling fairer, safer and crime-free through the use of tech and data?”
“And what was your advice in this case?” asked Norr.
“My advice was to find someone on the executive board who is going to carry the can for this,” Dragicevic replied. “It’s probably best that it’s the most digitally native person who’s the most comfortable with tech and data, but this needs to be part of their day-to-day job, their mandate. They need to free up their time, so they can focus on this and then slowly, working with advisors, whether it’s myself or the other panel members, they begin to build a strategy, understand what skills are needed and start building that way. And what’s needed first is the curiosity at the executive level, asking the right questions, accepting one’s limitations, admitting what scares you, understanding what doesn’t, where we’re strong, and getting support in the areas where it’s required. So, I don’t necessarily think that it's right to “inject” someone in the organization who’s going to solve the problem – working internally might take a little longer but I think it sets the organization up for success in a much more sustainable manner.”
To find out more, reach out to Mikael Norr or the Digital Practice members in your country!
Our upcoming AI study will include analysis, conclusions and recommendations in the context of Amrop’s Digital Competency Model and the Chief AI Officer profile in the coming months.