In a bid to navigate the burgeoning landscape of artificial intelligence (AI), Malaysia’s CEOs and CFOs are urged to take proactive measures to ensure trust and success in their organizations.
The emphasis is on boardroom leadership in managing AI-related risks, with a focus on governance and risk management. Key steps include investing in AI literacy, fostering collaboration across teams, and establishing robust governance frameworks.
AI Governance
While AI offers promising opportunities, it also introduces challenges to trust in financial reporting. Finance professionals play a crucial role in understanding AI outcomes to drive business success.
Alistair Brisbourne, Head of Technology Research, ACCA says, “Introducing AI is both about trust in the systems and trust in the people that we work with, and how we bring those two elements together.”
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“CEOs and CFOs need to focus on making the changes needed to harness the many potential opportunities but also retain trust. This includes upskilling to deal with the technology and introducing new knowledge into their organisations. They also need to focus on the governance, the oversight and culture required to allow different teams to work together effectively. It’s about bringing change management and governance together.”
Andrew Lim, Portfolio Head, ACCA Maritime Southeast Asia says, “As AI becomes integral to Malaysia’s business scene, it is important for business leaders to take proactive risk mitigation measures. By navigating these challenges, businesses can unlock the AI’s potential while safeguarding trust in the industry.”
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