More than half of board members say artificial intelligence has not yet generated significant business value, according to a global survey from IESE Business School that polled directors across 24 countries. The findings highlight a gap between AI's prominence on boardroom agendas and the difficulty of turning the technology into measurable outcomes.
Fifty-five percent of respondents said AI has not delivered substantial returns. While the technology remains a top priority, only a minority reported successful integration into core business strategy. The rest pointed to unclear return on investment, data quality problems, and a shortage of in-house expertise as persistent barriers.
Geopolitics and sustainability reshape the agenda
The survey identified two other forces dominating board discussions. Nearly two-thirds of directors said geopolitical risks-trade tensions, regulatory fragmentation, and related pressures-have become more central to strategic planning over the past year. Environmental concerns are also reshaping decisions, with a growing number of boards linking executive compensation to sustainability targets.
Despite the urgency, many boards feel unprepared. Just over half admitted they lack the skills to oversee AI-related risks and opportunities effectively. Only a third said they had a clear framework for integrating climate risks into financial reporting.
The skills gap inside the boardroom
The researchers said the results point to a need for a more proactive, interdisciplinary approach to governance. Boards that fail to adapt risk being caught off guard by technological disruption and regulatory shifts. The report recommends investing in board education, diversifying membership to include technology and sustainability experts, and developing clearer metrics for measuring AI initiatives.
The report closes with a call for boards to shift from discussion to implementation, particularly where the gap between awareness and action is widest. As the business environment grows more volatile, the ability to anticipate and respond to these intersecting challenges will separate high-performing companies from those that fall behind.
Why this matters for executives and strategy leaders
For executives and strategy leaders, the survey confirms that AI governance is still in its early stages at the highest levels of corporate leadership. The finding that most boards see little business value from AI yet-paired with the admission that they lack the skills to oversee it-signals a structural weakness in strategic oversight. Boards that invest in practical AI education, such as an AI Learning Path for CEOs, and build frameworks for measuring returns will be better positioned to close the gap between ambition and results. The pressure to act is not just technological; it is increasingly tied to compensation and regulatory expectations.
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