Artificial Intelligence (AI) isn’t just a buzzword anymore—it’s a game-changer for corporate governance.
At the 14th Annual Directors and Company Secretaries Conference in Kampala, governance professionals were urged to rethink their approach to decision-making and embrace AI as a tool for transparency, objectivity, and efficiency.
Hosted by ICSA Uganda in collaboration with the Chartered Governance Institute UK and Ireland and KPMG, the conference, themed Artificial Intelligence – Transforming the Corporate Governance Landscape, brought together experts to discuss the opportunities and challenges of integrating AI into governance frameworks.
Why AI Matters in Governance
Jane Okot P’Bitek Langoya, Chairperson of ICSA Uganda, didn’t hold back.
“We are biased against AI, but it’s here to stay,” she said. “We need to embrace it, debias ourselves, and explore how to work with it effectively.”
Her message was clear: AI is no longer optional. It’s a critical tool for minimizing human biases—both conscious and unconscious—that often skew decision-making at senior management and board levels.
By leveraging AI, organizations can make more data-driven, objective decisions.
But it’s not all smooth sailing.
The Ethical Dilemma
While AI offers immense potential, it also comes with significant ethical challenges. Jane highlighted the risks of AI-generated content, deepfakes, and data privacy.
“You see a picture or video, and you can’t tell if it’s real or manipulated. The ethical aspect of AI is a major concern,” she warned.
She called on the Ugandan government to establish legal frameworks for AI regulation, noting that Uganda currently lags behind regions like the European Union, which has already implemented AI laws with a strong focus on ethics.
A Call to Action
Peter Kyambadde, a Partner at KPMG, echoed the urgency of adopting AI.
“AI is transforming industries and economies globally. To remain competitive, board members and governance professionals must integrate AI into their structures,” he said.
Michael Jjingo, representing Centenary Bank, emphasized the need for a strategic and ethical approach.
“AI presents immense opportunities for growth and innovation, but only if governed responsibly,” he stated.
Patrick Courtney, Head of Membership at the Chartered Governance Institute UK and Ireland, added a global perspective.
“AI is with us—it’s in our smartphones, computers, and systems. The challenges are universal, and collaboration is key to harnessing its potential,” he said.
Key Takeaways from the Conference
The conference wasn’t just about raising concerns—it was about solutions. Here’s what governance professionals need to focus on:
- Embrace AI: Move beyond biases and explore how AI can enhance decision-making.
- Address Ethical Challenges: Tackle issues like deepfakes, data privacy, and AI-generated content head-on.
- Push for Regulation: Advocate for legal frameworks to govern AI use, ensuring ethical compliance.
- Think Strategically: Integrate AI into governance structures to drive innovation and competitiveness.
The Road Ahead
The intersection of AI and corporate governance is complex, but it’s also full of potential. As industries worldwide adopt AI, governance professionals must lead the charge in ensuring its responsible use.
The conference served as a wake-up call: AI isn’t just a technological shift—it’s a governance imperative.
By embracing AI, addressing its challenges, and advocating for ethical frameworks, governance professionals can pave the way for a more transparent, objective, and effective future.
