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Boards That Embrace Change, Lead the Future
We are operating in a world where the unexpected has become the norm, yet many companies are still unprepared for the rising threats and uncertainties that lie ahead. This was the sentiment of the recently concluded The World Economic Forum Annual Meeting at Davos.
The introduction and expansion of DeepSeek, and other generative AI technologies bring unprecedented challenges, forcing boardrooms to convert them into opportunities and rethink how they can lead businesses. According to McKinsey & Company, organizations must undergo a radical transformation across six core dimensions: strategy, talent, operating model, technology, data and AI adoption, and sustainability, if they are to capture the $4.4 trillion opportunity posed by generative AI. The challenges of adapting to a turbulent labor market, spurred by AI and automation, are also undeniable.
In this rapidly evolving landscape, corporate directors will need to adopt a workforce that is socially intelligent, emotionally intelligent, and creative. The 'Golden Peacock Awards Excellence Model' underscores this shift as well. Without a concerted effort to reskill the workforce, experts warn that we could see a more polarised labour market. As global economies shift, board leaders must consider how best to reposition their organisations to navigate these uncertainties. A crucial aspect of this repositioning will also be the evolution of Corporate Social Responsibility (CSR).
A crucial aspect of this repositioning will also be the evolution of Corporate Social Responsibility (CSR). It gained emphasis at the IOD’s 19th International Conference on Corporate Social Responsibility, during February 6-7, 2025, in Mumbai, offering the business community a platform to re-envision their CSR strategies and responsibilities toward society.
How can boardrooms stay ahead?
As we entered 2025, IOD's Members' Meet organised in New Delhi on January 10 provided a valuable platform for leaders to reconnect, exchange perspectives, and set the tone for the year ahead. This meeting highlighted the critical role of Independent Directors in governance and succession planning, and reinforced the need for data-driven decision-making, robust risk management, and a strategic partnership between management and IDs to ensure ethical practices and long-term organisational success.
IOD's Initiatives like the upcoming 'Boardroom Pulse', along with several Regional, National, and International conferences highlight our commitment to pioneering a silent revolution within the boardroom. These efforts are empowering corporate leaders with the tools and insights to build more inclusive, equitable, ethical, and sustainable organisations for the future.
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Pradeep Chaturvedi
Vice President - Institute of Directors
He is former Advisor FAO & former Chairman, Institution of Engineers, Delhi. He is a Mechanical Engineer & has been involved with Environment & Energy Policy (planning & implementation) of energy projects under the UN Agencies for over three decades in India & other Asian and Pacific countries. He is Vice-President, World Environment Foundation & Institute of Directors, India.
Owned by: Institute of Directors, India
Disclaimer: The opinions expressed in the articles/ stories are the personal opinions of the author. IOD/ Editor is not responsible for the accuracy, completeness, suitability, or validity of any information in those articles. The information, facts or opinions expressed in the articles/ speeches do not reflect the views of IOD/ Editor and IOD/ Editor does not assume any responsibility or liability for the same.
