As we reframe and reset for the new future, how do we deal with a new level of complexity being faced by boards, especially when it comes to data and digital transformation? Jacqueline Chow GAICD, who will speak at the Australian Governance Summit (AGS2022) in March in Melbourne, shares her insights as a director on the boards of ASX-listed companies Boral Limited, Coles Group, Charter Hall Group and nib Holdings.
Data and its uses is a major issue for directors in Australia, according to Jacqueline Chow GAICD, who will speak at AGS2022 on the topic: Directors and Digital Transformation.
“Our duties and obligations to individuals and also to organisations around data is very complicated now,” she told the AICD during a recent video interview.
“I think the acceleration of use by people in society of data accentuates the duty we have in the boardroom.”
“I think for most of the past decade in the boardroom, we've been preoccupied with financial capital and human capital, their flows, what the limiting factors are and how we embrace them. But now, more and more in earnest, we really need to understand data as a source of capital and its use,” she said.
Directors need to ask the following questions about data, she adds.
How do we use it?
Who owns it?
How is it protected?
Where are the interventions?
And are there geopolitical factors?
More broadly, directors also need to continue to reset and reframe strategy and priorities as part of ongoing recovery from the pandemic. “The complexity now is what will the new world bring us? How is it still dynamically ever changing? And how do we serve our organisations and our people toward this new this new reality?”
Jacqueline Chow GAICD will speak at the Australian Governance Summit (AGS2022) in March in Melbourne on a panel with Robin Low GAICD, Director, Appen and Dr Ian Oppermann GAICD, Chief Data Scientist, NSW Government. The topic Directors and Digital Transformation will cover how boards can ensure that their organisations are future-ready and whether directors have the necessary skills and willpower to embrace digital transformation.
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