Guide aims to elevate fiduciary literacy of board members and shift AI oversight to a core boardroom mandate
[SINGAPORE] As artificial intelligence becomes a boardroom priority, directors in Singapore can now tap a new framework to help them oversee its adoption and governance.
The AI Guide for Boards in Singapore, launched on Friday (Jul 31) by the Singapore Institute of Directors (SID) at its inaugural SID Digital & Tech Forum, provides practical guidance to help boards navigate the opportunities and risks of AI.
“No board can afford to be under-invested in this domain (of AI); no board director can afford to be inefficient in this area of knowledge,” said Minister for Digital Development and Information Josephine Teo, who delivered the keynote address at the forum.
She added that boards would benefit from building a deeper understanding of AI.
While Teo noted that Singapore is among the leading countries in AI investment, innovation and implementation, she cautioned that competition is intensifying and the gap between the top AI-performing countries and Singapore remains significant. “We should take that as encouragement, that we need to continuously look at ways to better ourselves – and there are very many good reasons as well as opportunities for us to do so,” she added.
Teo also highlighted that AI adoption presents a different challenge from previous technologies, as many employees are already using AI tools independently, sometimes ahead of their organisations.
She said companies should consider how to harness employees’ existing knowledge and experience with AI, and create an environment where individual productivity gains can be translated into broader workplace improvements.
Practical guidance for boards #
The AI Guide for Boards is designed to bridge the gap between AI ambition and implementation at the board level. SID noted that even as Gartner projects worldwide AI spending to reach US$2.52 trillion in 2026, many organisations that have successfully developed AI proofs of concept continue to struggle to scale them across the enterprise.
Developed in partnership with OpenAI and Microsoft, the 116-page guide is supported by the Infocomm Media Development Authority (IMDA). Its primary objective is “to elevate the fiduciary literacy of board members, shifting AI oversight from a passive tech-committee topic to a core boardroom mandate”.
The launch comes as directors face growing expectations to oversee AI strategy, governance and risk, with AI governance rapidly becoming a fiduciary imperative.
“AI is no longer a technology issue; it is a board responsibility,” said Yeoh Oon Jin, chairman of SID. “Written specifically for directors, this guide provides practical frameworks and the critical questions boards need to oversee AI with confidence, balancing innovation and value creation with effective risk management and trust.”
The guide complements Singapore’s National AI Strategy 2.0 by translating national ambitions into practical boardroom actions. It also aims to help directors leverage initiatives such as the IMDA Model Governance Frameworks to strengthen governance, accelerate responsible AI adoption across enterprises and advance Singapore’s aspiration to be a global hub for trusted AI.
The guide also noted that boards must strengthen their AI literacy. “At a minimum, directors should understand how AI is reshaping industries, operating models and competitive dynamics,” it said.
The guide therefore provides practical guidance on a range of strategic and operational issues. This includes integrating AI into corporate strategy, identifying high-value AI opportunities as well as managing regulatory, cybersecurity and ethical risks.
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