AI Guide For Boards in Singapore

AI GUIDE FOR BOARDS IN SINGAPORE

Section I: The Board Mandate

3.3 Enhancing Board Composition

• Hire: Directly recruit independent directors who possess proven track records in leading digital business models or scaling technology enterprises. • Train: Invest in tailored, continuous professional development programmes to elevate the collective AI literacy and condence of existing board members. • Augment: Utilise a hybrid model by

Technology, cyber, data and AI literacy should increasingly be treated as core board competencies rather than niche or optional skills. Boards should periodically review their skills matrix to assess whether the composition of the board reects the organisation’s evolving digital and AI risk prole. Relevant competencies may include: • Enterprise technology and digital transformation. • Data governance and analytics. • Cyber security and operational resilience. • AL and machine learning. • Platform and ecosystem models. • Regional regulatory understanding.

retaining external technical advisory boards or independent consultants to provide unbiased validation of management’s technical claims.

e dierent approaches to Strengthening Board Capability for AI can be useful at dierent stages of the organisation’s lifecycle.

Eective governance requires broad institutional capability across the board.

3.3.1 Strengthening board capability

Organisations can adopt several complementary approaches to strengthen board capability:

Strengthening Board Capability for AI

HIRE (Recruitment)

TRAIN (Upskilling)

AUGMENT (Advisory)

Key actions

Key actions

Key actions

Define future-state board skills and competency requirements Actively source directors with AI, digital and scale- up experience Use a skill matrix to guide recruitment and diversity of thought Best suited for Boards needing immediate infusion of deep technical expertise and industry perspective.

Conduct AI literacy assessments to identify knowledge gaps Provide tailored training, workshops and scenario- based learning Review and reinforce learning as AI evolves

Engage external technical advisors or an advisory board Obtain independent validation of models, risks and assumptions Use advisors to challenge, benchmark and guide strategic decisions Best suited for Boards requiring objective, specialist input without permanent board expansion.

Best suited for Boards seeking to uplift collective capability and build confidence for informed oversight.

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