By Henry Uche
Chartered Institute of Directors (CIoD) Nigeria has charged its 228 newly inducted members to live above board and show responsible leadership in their respective spheres of endeavours.
Speaking at its September induction ceremony in Lagos recently, the President and Chairman of Governing Council of the Institute, Mr. Tijjani Borodo, charged the new members to be intentional in fostering a culture of innovation within their organisations, especially with Artificial Intelligence (AI) and other emerging technologies that could engender good governance, management and administration.
The CIoD president urged them that as directors, they are no longer expected to merely oversee operations, rather they must now engage deeply with the forces driving disruption to secure long-term success for their organisations.
“Directors stand at the crossroads of significant technological transformation as AI is reshaping industries, redefining leadership, and challenging traditional approaches to governance. AI is a powerful tool at your disposal, which has the potential to significantly enhance decision-making processes, streamline operations and unlock new growth opportunities”
The CIoD boss reminded them that technology also comes with multiple challenges, hence the need to carefully navigate, particularly in respect to ethical governance, data privacy and societal impact. He maintained that corporate leaders occupy a unique role at the intersection of strategy, innovation, and execution, and they must remain relevant, resilience, and capabilities to thrive in a competitive global environment.
“In cognizance of the responsibilities that come with deploying AI-driven solutions; boards must ensure that AI systems are transparent, unbiased, and ethically aligned with their organizational values. It is not enough to simply integrate AI into our business; we must also ensure it is used responsibly and in a way that benefits not just shareholders but all stakeholders.
“Governance in the AI age is not about managing risks alone, it is about enabling growth through bold, forward-thinking leadership. We must be prepared to push boundaries, test new ideas, and embrace the disruptive forces that will inevitably reshape industries and markets”
He heralded the need to invest in upskilling and reskilling the workforce, ensuring that they possess the knowledge and capabilities to harness the full potential of AI and other cutting-edge and emerging technologies.
“This requires strategic vision on the part of leadership, ensuring that our people are not just employees but empowered stakeholders who contribute to the growth and transformation of the organisation,” he said.
Speaking on the theme, ‘Impact of Artificial Intelligence and Innovative Thinking on Governance and Leadership’ the guest speaker and Country Manager, Microsoft Nigeria, Mrs. Olatomiwa Williams, explained that AI could expand Africa’s economy by 50 per cent of current GDP by 2030 if the continent captures just 10 per cent of the global AI market.
On its benefits on Nigerian businesses, she said it increased engagement in meetings, faster data analysis, quicker code writing and efficient chat box launches.