The Hong Kong Chartered Governance Institute (HKCGI) has released a pivotal research report highlighting five key governance imperatives to address the AI governance gap and underscoring the urgent need for digital oversight in the boardroom.
Peter Greenwood, FCG HKFCG, co-author of the report, said: Our Report calls urgently for structured, committed and collaborative efforts by the Hong Kong Government and regulators, directors and all levels of business management to develop and deploy the capabilities needed to unlock the vast opportunities offered by new technology.”
Addressing the governance gap
The report, “Technology: Matching Optimism with Governance and Capability – Five Imperatives for Responsible Innovation,” highlights the urgent need for Hong Kong businesses and governance practitioners to proactively address the rapid technology revolution and prepare for transforming business practices and skills.
In response, the report establishes Five Governance Imperatives:
- Elevate Technology to a Core Board Responsibility
- Strengthen Digital Competence at Board Level
- Integrate Technology into Risk Management and Internal Controls
- Formalise AI and Data Governance FrameworksÂ
- Enhance Transparency Around Technology Strategy and Oversight Â
“Innovation without governance maturity is an operational hazard,” said Tom Chau, FCG HKFCG(PE), president of HKCGI. “While the enthusiasm for digital transformation across Hong Kong is undeniable, our systems of oversight are playing catch-up. Governance professionals are uniquely positioned to bridge this gap, ensuring that strategic ambition is always matched by disciplined, structured boardroom oversight.”Â
