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Why Corporate Purpose And AI Ethics Must Be A Leadership And Risk Management Priority (Blog 3 Of 5)

This blog series has been exploring the meaning of corporate purpose and looking at the importance of AI Ethical frameworks, and evolving audit practices internally and externally to improve risk management practices, advance digital literacy foundations to support the evolution to intelligent enterprises.

See Blog One in this five part series here as this blog defines corporate purpose and its importance in creating stronger intelligent enterprises. See Blog Two in this five part series as this blog identifies leading AI principles, and frameworks or standards to guide board directors and CEOs to increase their knowledge in these areas, as well as their C-Suite.

This third blog in this series identifies key questions that a Board Director can ask of its CEOs, and in turn, the CEO should be well prepared to answer these questions in the boardroom or have his or her CIO/CTO respond in the IT audit committee.

Every CEO in today’s world must be digitally literate, have training and expertise in technology, data management and AI fundamentals to lead in our data tsunami world that is everywhere. Every company’s strategic assets increasingly are in its data resources. This blog focuses on identifying a series of data management questions that a board director can ask of his or her CEO.

Data Management

1.) Is there a Corporate purpose well defined and understood that underlies all your technology investments against a greater good and trusted operating framework?

2.) Is there a Data Management Strategy and Data Value Matrix (Value and Risk Levels) well defined with clear accountabilities?

3.) Is there a Data Governance operating council with cross functional data stewards advancing the data management strategy?

4.) Is there a Data Risk Management operating review process and are appropriate risk controls are established and monitored?

4.) Are business process owners easily identified across the enterprise with also certified data stewards in each functional unit and are these process owners and stewards governed with enterprise operating guidelines and controls?

5.) How is enterprise data stored and labelled with strong data lineage practices?

6.) Which organization is your benchmark in corporate purpose aligned with AI Ethics and using robust data management practices?

7.) Where is your organization in its data management maturity practices against your competitive landscape? Are you a benchmark for your industry?

8.) Do you have certified data management practitioners in your company and are they centrally managed from a governance and career development perspective?

9.) Do you have a digital literacy program for all employees with a foundation on data management and AI?

10.) Do you conduct third party audits on your data management practices?

The scale you can use for these questions could just simply be : Yes or No and have an evidence review to validate all Yes’s.

My next blog in this series will identify questions relevant to AI board director risk management questions.