At a time of global economic uncertainty and increase in cybersecurity risk, scrutiny of boards is at an all-time high and companies are realizing the need to focus on internal corporate governance first and business processes second. Legacy board communication tools adopted in recent years are not enough to ensure security, sustainability, or effective digital transformation according to Govenda Co-Founder and CEO Marion Lewis. New software being rolled out last week by Govenda leverages and implements a secured artificial intelligence (AI) to navigate digital transformation in corporate governance - while managing risk and opportunity in an unsettled economic landscape.
PITTSBURGH, May 22, 2023 /PRNewswire-PRWeb/ -- Seventy-eight percent of companies are using technology to drive business outcomes, yet only 28 percent are confidently applying it to internal governance, according to a CompTIA survey. (1) Recognizing the imbalance and resulting failures, Govenda today has launched their Artificial Board Intelligence Innovation (Gabii), at the precise time that boards, under intense scrutiny, need to evaluate whether their current software is extensive and thorough enough to keep in step with digital transformation and maintain their organizations' sustainability.
Marion Lewis, Co-Founder and Chief Executive Officer of innovative board management platform, Govenda, claims that boards must adopt the latest technologies in corporate governance to adapt to the evolving needs of board management, with AI being a must-have for board oversight ─ technology that prior to today was not available in legacy board communication tools.
Improved decision-making is beneficial in supporting an organization's sustainability during harsh economic conditions. (2) "We designed Gabii to ensure quick access to data and good communication among executives and directors, prioritization of board activities, and improved decision making," asserts Lewis. "Gabii is the answer to long-term sustainability for corporate governance," she continues.
Boards charged with oversight for a company's risk, opportunity, strategic goals, and the governance driving those goals find the landscape more unsettled than at any time in the last 50 years. Rapid and constant advances in the digital landscape raise fears that they will not be able to pivot in response to needed change. (3) A recent Gartner survey revealed that artificial intelligence was the top technology that CEOs believe will significantly impact their industry over the next three years, cited by 21% of survey respondents. CEOs who are not taking advantage of AI may be missing out on something competitively important for their companies. (4)
AI is the Solution for Board Governance
Gabii will facilitate decision-making through fast presentation of real-time data and ensure compliance from anywhere in the world. Experience and technology have led Lewis and Govenda to develop the AI-based proprietary technologies that use a customer's data without compromising security:
- Administrative tasks: Create meetings, manage committee members, track RSVPs, reducing the need to perform tedious, repetitive tasks.
- Improved decision-making: With faster access to relevant information, board professionals and directors can make more informed decisions.
- Voice accessibility: Speak directly to Gabii to ask questions and complete tasks.
Govenda comments that board oversight claims have taken a concerning turn in recent years; shareholders can sue directors for allegedly failing to make a good faith effort to execute these oversight duties. "While hard to prove, boards need to be even more proactive," says Lewis. "AI leverages the ability of technology to help the governing behavior of a board of directors and the organization they represent, the scope of responsibilities of the board themselves, and a framework for board decision-making."
Visit Govenda's website today to learn how Gabii can prepare your board for digital transformation in corporate governance management.
About Govenda
Marion Lewis and Jeanette Thomas, two results-driven entrepreneurs, investors, philanthropists, and business community leaders co-founded Govenda. Govenda is a governance management platform with enterprise-grade security whose mission is to equip corporate boards with the most advanced and intuitive technology for governance management to improve decision-making and reduce compliance risks. Following their vision to transform governance management through innovation, Govenda continues to introduce cutting-edge technology within their corporate governance software. Earlier this year, they became the first board management platform to release fully embedded Microsoft 365 capability, and now they are launching the first AI in corporate board management. For more information on the most innovative platform in board governance visit http://www.Govenda.com. For more information about Gabii, the new AI governance assistant, visit http://www.govenda.com/gabii.
References:
1. Shein, Esther. "Seven Digital Transformation Myths", CIO.com, 06 December 2017, cio.com/article/189552/7-digital-transformation-myths.html.
2. Kelly, Emma. "Governance in the Digital Age", Security Boulevard, 17 February 2023, securityboulevard.com/2023/02/governance-in-the-digital-age/.
3. DeLoach, Jim. "Shifting Sands: Leaders are Feeling the Pressure of an Uncertain, Dynamic Risk Landscape", Corporate Compliance Insights, 22 February 2023, corporatecomplianceinsights.com/dynamic-risk-landscape-2023/.
4. Rimol DeLisi, Meghan. "Gartner Survey Finds CEOs Cite AI as the Top Disruptive Technology Impacting Industries", Gartner, 17 May 2023, gartner.com/en/newsroom/press-releases/2023-05-17-gartner-survey-finds-ceos-cite-ai-as-the-top-disruptive-technology-impacting-industries
Media Contact
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SOURCE Govenda
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