AI companion tool will allow board members to access advanced data analysis, risk assessments and strategic insights for informed decision-making.
G42, the leading UAE-based technology group announced the development of BoardNavigator, an AI board companion set to transform corporate strategy and governance. The new AI tool, planned to be available to organizations worldwide, will analyze large proprietary and public data sets to support board members in their decision-making processes.
Working closely with Microsoft and built with security in mind on Microsoft's Azure OpenAI service, BoardNavigator will address the specific needs of individual organizations by using the organization's own data to ensure privacy, relevancy and accuracy.
BoardNavigator will be able to process decades of internal business data, financial information combined with external market trends and indicators which will help navigate the complexities of business resolutions, through superior analytical capabilities. BoardNavigator will enjoy the security, privacy, and compliance features of Microsoft Azure, helping customers with their regulatory obligations.
International Holding Company (IHC), the global diversified multi-sector investment company and the UAE's largest publicly traded entity, will be the first organization to adopt BoardNavigator in its Board operations. 'Aiden Insight', as it was named by IHC, will be utilized in IHC Board meetings as a decision-making tool, offering real-time insights to inform discussions and guide decisions. In that capacity, Aiden Insight will be responsible for observation of the IHC Board's meetings, providing data analysis, risk assessment, and strategic planning support in a secure and compliant manner.
Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of IHC, said: "Aiden Insight will provide us with unparalleled data analysis and strategic insights, ensuring that IHC remains at the forefront of industry developments and continues to deliver value to our shareholders."
Kiril Evtimov, Group Chief Technology Officer, G42, said: "The use of AI in the boardroom is a gamechanger. We are pleased to be introducing a cutting-edge capability designed to assist business leaders, highlighting the significant role of AI in navigating the complexities and rapid pace of today's business landscape."
Samer Abu-Ltaif, Microsoft Corporate VP and President for Central and Eastern Europe, Middle East, and Africa, said: "Generative AI is a transformative technology that transcends industries, and the UAE's visionary approach continues to foster a thriving environment where AI tools and solutions can empower organizations across sectors. AI accelerates the ability to reason over large amounts of complex data, identify patterns, and generate insights to accelerate productivity and decision-making. By leveraging the power of Microsoft Azure OpenAI, BoardNavigator equips boards with insights responsibly and in a secure manner, empowering them to make more informed decisions."
BoardNavigator will offer high customization opportunities, catering to the diverse needs of boardrooms worldwide. Equipped with real-time data access, it will seamlessly summarize reports, interpret complex charts, analyze market trends, assess risks, simulate alternative investment scenarios, and more. Additionally, plans to incorporate a speech-to-text option in the future will enhance accessibility and user experience. G42 intends to initially deploy BoardNavigator within sectors where it boasts significant expertise, including energy, health, finance, and technology. Subsequently, it plans to expand the tool's reach across diverse industries and markets, ensuring widespread applicability and positive impact over time.
