An AICD interview with Steven Bowman, FAICD, Conscious Governance
In the AICD article "How board portals help simplify compliance, communication and reporting," Steven Bowman FAICD, Managing Director of Conscious Governance, emphasizes that board portals are transformative tools for modern governance. He states, "They’re a tool for transforming how boards think and act," highlighting that these portals go beyond mere compliance checklists
Bowman says portals help directors keep up with regulatory changes by providing secure document sharing, push notifications and AI-driven summaries. “Advanced portals also offer gap analysis tools that highlight areas where compliance obligations are unmet and suggest corrective actions,” he adds.
Board portals measure and track compliance performance through dashboards, analytics and reporting tools. “These features provide real-time insights into adherence, including board meeting attendance, timely submission of disclosures and risk-mitigation actions,” observes Bowman.
“Many integrate KPIs and benchmarking tools to help directors assess compliance effectiveness over time. The next level for board portals would be to measure compliance performance integrated with strategic vision and goals. Compliance with an oversight of strategy and vision is where true innovation can begin.”
Bowman notes that the industry is considering a range of AI functions. He says portals are also adding tools such as best practice examples and knowledge libraries. But he also offers a word of caution. “Technology alone doesn't create strategic awareness or improve governance. The real power lies in how boards leverage these tools to enhance their decision-making and create value for their stakeholders.”
Steven Bowman notes AI is boosting board efficiency by automating administrative tasks, providing predictive insights and enhancing decision-making.
He says key AI-driven features available within board portals — either now or soon to come — include:
Intelligent agenda management: AI recommends meeting agendas based on past discussions and upcoming compliance deadlines.
Automated document summaries: AI scans lengthy reports and provides executive summaries for quick reference.
Sentiment analysis: AI analyses meeting discussions to highlight emerging concerns or board sentiment trends.
AI-powered search: Directors can instantly retrieve governance documents using natural language queries.
Automated minutes: AI captures key points and decisions in real-time, generating detailed minutes and tracking action items automatically. Using tools such as Otter, Jamie or Fireflies offers big productivity gains in functions.
Personalised briefings: AI creates tailored summaries and insights for individual directors, enhancing meeting preparedness.
Risk forecasting by machine learning: Using predictive analytics to assess governance and compliance risks.
Analysis: Can be used for board evaluations, monitoring progress against key recommendations from reviews approved by the board.
Full AICD article here: How board portals help simplify compliance, communication and reporting