As a member of the board of directors, you need to have deep knowledge of what goes on inside and outside the company. Many board members I have spoken with, find that this task has become a lot more challenging in the last years, especially since the introduction of artificial intelligence.

If applied correctly, the versatile AI-technique give international companies enormous opportunities to grow and to increase their efficiency and profit-margin, but AI also comes with some challenges that you as a board member need to understand to make informed decisions and stay relevant.

I have helped many companies on the international arena and almost all of them have to little knowledge of how to increase the chance of success and to minimize the risks when strategically applying artificial intelligence in the organization.

My top three tips for board of directors to stay relevant:

1. Ongoing education, consume relevant directly applicable expert knowledge relevant to your business.

2. Think big, give your organization the highest chance of success by having great insights into key metrics making the difference between success and failure.

3. Strategic resource planning, focus your resources on applying AI where it really makes a difference.

In my online Master Class Maximize Profits, we talk about how the board of directors can become relevant and how to position your company, solve current problems, have the best preparation to meet future challenges and make your company stronger and less susceptible to market changes and unforeseen events.

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