Future-proofing boards: the importance of diversity of thought

ACROSS industries, companies are increasingly being confronted by new and unprecedented challenges. They are having to deal with the impact of technology-enabled transformation, understand risks arising from increased automation, including cybersecurity, and adapt to shifting trends in workforce management, to name just a few. For example, not many boards would have predicted the implications of blockchain technology on business processes, nor the current challenges associated with managing full-time employees, AI-enabled workflows, and reliance on contingent workforces.

These new uncertainties create unique problems that require specific expertise and industry experiences. For example, skills in security or computer science will help you understand the complexity of data breaches, while expertise in public relations is critical when it comes to an organisation's reputation and crisis management.

Are companies prepared for this brave new world? While some companies are beginning to appreciate the importance of these changes, and have started establishing specific functions to address them - experiences are still very mixed at the boardroom level.