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AI in Board Meetings: Challenges and Considerations

As more organisations use AI and it becomes embedded in many aspects of their operations, governance professionals need to consider how they might use AI to increase efficiency while ensuring there are appropriate governance controls in place.

Governance Institute’s issues paper, ‘Artificial Intelligence and board minutes – Issues Paper’ provides an in-depth analysis of the potential applications and challenges of using AI in board meetings and company secretarial practice.

The paper considers some of the risks associated with the use of AI, including data privacy concerns, cybersecurity risks, intellectual property issues, accuracy of output, the potential for bias and discrimination and regulatory compliance issues. It stresses the importance of managing these risks as part of good governance.

Notably, the paper specifically addresses the use of AI in the context of board meetings. It highlights that while applications like Microsoft Teams, Zoom and GoogleMeet can generate meeting transcripts or summaries, and tools like Microsoft Copilot can extract actions from these summaries, there are legal and practical considerations to bear in mind.

The legal requirements for keeping minutes under section 251A of the Corporations Act 2001 are explored and it’s emphasised that minutes are not a transcript of the meeting but a record of board decisions and the process by which those decisions have been made.

The Issues Paper comments that while AI may increase efficiency in many areas of a company secretariat team, it may not have evolved to a point where it is able to make the sorts of judgments required in minute taking.

Read the full issues paper for a more detailed understanding of the potential applications and challenges of using AI in board meetings and in company secretarial practice. Find out more on Governance Institute’s website.

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