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Abu Dhabi’s G42 Group is developing an artificial intelligence (AI)-powered board member, an initiative that is set to revolutionise corporate governance and decision-making globally.
BoardNavigator, as the virtual entity is known, will be able to analyse decades of business data, financial information, market trends, and global economic indicators.
The AI tool is available to organisations worldwide. It will offer high customisation opportunities, catering to the diverse needs of boardrooms worldwide.
G42 said the virtual board member will address the specific needs of individual companies by leveraging “the organisation’s own data to ensure privacy, relevancy and accuracy.”
It will be able to analyse large proprietary and public data sets to support board members in their decision-making processes.
“Equipped with real-time data access, it will seamlessly summarise reports, interpret complex charts, analyze market trends, assess risks, simulate alternative investment scenarios, and more,” G42 said in a statement.
BoardNavigator will help companies navigate the complexities of the global investment landscape by assisting human board members make better strategic business and investment decisions.
G42 intends to initially deploy BoardNavigator within sectors where it boasts significant expertise, including energy, health, finance and technology. The group plans to make the AI tool available across diverse industries and markets while ensuring widespread applicability.
G42 brings AI to the boardroom
Meanwhile, International Holding Company (IHC) is set to be the first organisation to adopt BoardNavigator in its board operations.
The AI board member, known as Aiden Insight, will take an observer seat on the board of IHC. It will observe the $239bn (Dhs876bn) conglomerate’s board meetings, providing data analysis, risk assessment, and strategic planning support in a secure and compliant manner.
The Abu Dhabi holding firm said Aiden will attend IHC board meetings as a non-voting observer, offering real-time insights to inform discussions and guide decisions.
The new board position is expected to confer a multitude of benefits to the UAE conglomerate ranging from “bolstered decision-making through enhanced data analysis and the promotion of a culture of innovation.”
The role will also contribute to efficient resource management and advanced risk management.
BoardNavigator is the latest initiative by Abu Dhabi as the UAE seeks to become a global leader in testing and regulating AI technology.