Artificial Intelligence (AI) is no longer a futuristic concept—it has become a driving force across industries, reshaping the way organizations operate, innovate, and compete. As the former CEO of a $12 billion health care company and a current board member across several organizations, I’ve seen firsthand how transformational AI can be. The conversation is no longer whether businesses should adopt AI, but how quickly they can integrate it at the highest levels of decision-making.
In boardrooms across the globe, strategy discussions often center on revenue growth, regulatory challenges, competitive landscapes, and digital transformation. Yet one element is frequently missing: a clear and dedicated role for AI. Just as boards once created committees for audit, compensation, and risk, it’s time to recognize that AI deserves a permanent seat at the table.
AI Is a Strategic Imperative, Not Just a Tech Tool
Too often, executives frame AI as an IT project or a back-office efficiency upgrade. That mindset underestimates its potential. In health care, for example, AI can predict patient outcomes, reduce administrative costs, and help design personalized treatment plans. In finance, it powers fraud detection and algorithmic trading. In manufacturing, it streamlines supply chains and reduces waste.
AI is not simply about automation—it’s about intelligence. It enables organizations to make smarter decisions faster, offering real-time insights that were impossible just a few years ago. For boards, this means AI strategy is inseparable from corporate strategy.
The Risk of Falling Behind
Companies that fail to embrace AI face the same fate as those that resisted the internet or dismissed digital transformation. Competitors leveraging AI will not only operate more efficiently but will also offer better products and customer experiences.
From my board experience, I’ve seen that organizations without an AI roadmap quickly lose ground. Talent recruitment suffers, shareholder confidence wanes, and operational inefficiencies grow. In regulated industries like health care and financial services, ignoring AI is not just a missed opportunity—it’s a competitive disadvantage.
Why Boards Must Treat AI as a Core Competency
Just as boards expect financial literacy, cybersecurity oversight, and regulatory compliance, they must now demand AI fluency. This doesn’t mean every director must code or build algorithms. Instead, it requires a foundational understanding of:
Opportunities: How AI can unlock growth and innovation.
Risks: Bias, data security, regulatory scrutiny, and ethical dilemmas.
Integration: How AI aligns with long-term strategic objectives.
Board members should ask tough questions:
How is AI embedded into our business model?
What ethical safeguards are in place?
Are we hiring and training the right talent to deploy AI responsibly?
How do we ensure transparency with customers, regulators, and stakeholders?
By treating AI as a core competency, boards ensure companies are not only compliant but also ahead of the curve.
AI in Health Care: A Case Study of Transformation
During my tenure leading a $12 billion health care organization, the most exciting breakthroughs came when we applied AI to real problems. Machine learning helped us analyze millions of medical records, predicting patient risks with unprecedented accuracy. Natural language processing allowed us to cut down administrative burdens, freeing doctors and nurses to spend more time with patients.
What struck me most was how quickly AI moved from being a “pilot project” to becoming mission-critical. The efficiencies, cost savings, and quality improvements were impossible to ignore. Today, that experience serves as a reminder: if an industry as complex and highly regulated as health care can leverage AI at scale, any industry can.
The Human and Ethical Dimension
AI deserves a seat at the table not only for its power but also for its risks. Boards must grapple with the ethical questions surrounding privacy, bias, and job displacement. In health care, a flawed AI model could harm patients. In finance, it could destabilize markets. In retail, it could erode customer trust.
That’s why governance must evolve. Just as we hold executives accountable for financial missteps, we must hold them accountable for responsible AI. Boards must set clear ethical frameworks, demand transparency in algorithms, and ensure companies remain human-centered even as they become AI-powered.
A Call to Action for Boards and Leaders
The business landscape is being rewritten by AI. Leaders who embrace this shift will guide their organizations toward resilience and growth. Those who delay will struggle to catch up.
AI deserves a seat at the table—not as a side conversation in the IT committee but as a central pillar of corporate strategy. It should be part of board agendas, C-suite scorecards, and long-term vision documents.
The companies that thrive in the next decade will not be those that simply adopt AI tools. They will be the ones that weave AI into the very fabric of leadership and governance.
Final Thought
As someone who has led a $12 billion health care company and continues to serve on boards, I believe the time has come for organizations to elevate AI to its rightful place in decision-making. The question is not whether AI will transform industries—it already has. The real question is whether leaders are ready to give it the seat at the table it deserves.
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