mckinsey -人工智能的清算：董事会如何演进 The AI reckoning How boards can evolve

Mcsey

&company

TheAIreckoning:

Howboardscanevolve

HowcanboardsbesthelpguidecompaniesthroughthecompetitivedynamicsunleashedbyAI?

byAamerBaig,AshkaDave,CeliaHuber,andHrishikaVuppala

December2025

Artificialintelligence—includingitsmanyoffspring,frommachinelearningmodelstoAI

agents—ismuchmorethanthelatestwaveoftechnology.Itisageneral-purposecapabilitythatispoisedtotouchalmosteverysector,function,androle,withthepowertoreshape

howcompaniescompete,operate,andgrow.Withtrillionsofdollarspotentiallyatplayandimplicationsthatcouldbeexistentialtocompanies,AIisclosertoareckoningthanatrend.

AndthatiswhyAIisaboard-levelpriority.

Morethan88percentoforganizationsreportusingAI

inatleastonebusinessfunction1;however,boardgovernancehasnotmatchedthatpace.WhileinterestinAIseemstohavespikedaftertheintroductionofChatGPT,asof2024,only39percentofFortune100companiesdisclosedany

formofboardoversightofAI—whetherthroughacommittee,adirectorwithAIexpertise,oranethicsboard.2

Evenmoretelling,aglobalsurveyofdirectorsfoundthat66percentreporttheirboardshave“limitedtonoknowledgeorexperience”withAI,andnearlyoneinthreesayAIdoesnotevenappearontheiragendas.3

HavingalowrateofAIadoptionbyboardsmightseemobviousatfirst,giventheoften-sizable

investmentsmanycompanieshavealreadymadeinAIandthelimitedreturnstodate.AIadoptionhasnotyetledtosignificantlyimprovedperformanceformostbusinesses,withcompanies

reportingmodestlevelsofsavingsandnewrevenue.4

Inourexperience,however,manyoftheissuesplaguingAIprograms—suchasalackof

strategiccoherenceandunclearvaluedynamics—arepreciselytheonesthatboardsarebestpositionedtoaddress.Inotherwords,boardshaveanimportantroletoplayinredressingthedisappointingoutcomes.

ThatroleisgroundedindevelopingastrongunderstandingofhowAIcanchangethebusiness,bothforbetterandforworse.Boards,therefore,needtobecomefluentinAI,notnecessarilyasatechnology,butasacatalystthataffectsthecompetitivedynamicsoftheirsector.Thismightmean,forexample,understandinghowgeneral-purposeAIsystemscanundermineaspecificproductlineorserviceorhowanAI-poweredcapabilitycreatesanopportunitytoexpandintoanewmarketoradjacency.

AI-savvyboardswillbeabletohelptheircompaniesnavigatetheserisksandopportunities.

Accordingtoa2025MITstudy,organizationswithdigitallyandAI-savvyboardsoutperformtheirpeersby10.9percentagepointsinreturnonequity,whilethosewithoutare3.8percentbelow

theirindustryaverage.5

Whatboardsshoulddo,however,isthebiggerquestion—andthefocusofthisarticle.The

intensityoftheboard’srolewilldependontheextenttowhichAIislikelytoaffectthebusinessanditscompetitivedynamicsandtheresultingrisksandopportunities.Thosecompetitive

dynamicsshouldshapethecompany’sAIpostureandtheboard’sgovernancestance.

1“ThestateofAIin2025:Agents,innovation,andtransformation,”McKinsey,November5,2025.

2St.LouisFedOntheEconomy,“AIhypeorreality?ShiftsincorporateinvestmentafterChatGPT,”blogentrybyAakashKalyanietal.,October3,2024;McKinseyassessmentoftheFortune100(asofAugust2025).

3AnnaMarks,LaraAbrash,andArnoProbst,“GovernanceofAI:Acriticalimperativefortoday’sboards,”HarvardLawSchoolForumonCorporateGovernance,May27,2025;McKinseyGlobalBoardSurvey2024.

4MelissaHeikkilä,ChrisCook,andClaraMurray,“America’stopcompanieskeeptalkingaboutAI—butcan’texplaintheupsides,”FinancialTimes,September23,2025;NjengaKariuki,“Economy,”inArtificialIntelligenceIndexReport2025,StanfordUniversity,2025.

5“Digitallysavvyboards:AIupdate,”MITCenterforInformationSystemsResearch,March20,2025.

TheAIreckoning:Howboardscanevolve2

TheAIreckoning:Howboardscanevolve3

TobetterunderstandhowboardscanevolvetoaddressAI,weconductedinterviewswithdirectorsfrom75boardsacrossvariousindustriesandgeographies.Wealsoanalyzedthefindingsfromthe

McKinseyGlobalSurveyonthestateofAI

anditsdatasets,whichcoverthousandsofexecutivesglobally.6

Thisanalysishighlightstwoprioritiesforboards:

—Definingthecompany’sposturetowardAIadoption.MostorganizationsstilllackaclearviewofhowAIfitsintotheirstrategyortransformationagenda.Withoutalignmentbetweenthe

boardandmanagement,oversightbecomeseithersuperficialorparalyzing.

—Tailoringthegovernancemodeltomatchthecompany’sAIposture.Theboard’staskistocalibrateitsrolearoundwheretoengage,whattooversee,andthecadencetouse.

Thisarticlewillexplorehowboardscanaddressthesetwoprioritiesandalsolayoutsixgovernanceactionsthateveryboardshouldconsider.

Definingthebusiness’sAIposture

Abusiness’sAIpostureclarifieshowAIfitsintothecompany’sstrategicambitionandits

priorities.NoteveryenterprisewillapproachAIthesameway,norshouldit.ButhavingclarityaboutthepotentialimpactofAIonthebusinessprovidesboardsandmanagementwitha

foundationformakingkeystrategic,governance,andinvestmentdecisions.

Twostrategicdimensionsdetermineacompany’sapproachtoAI,withwherecompaniesfallalongthespectrumofeachdefiningtheirposture:

—Sourceofvalue.WillAIhelpthecompanymovebeyonditscorebusinessmodelintonew

products,experiences,andrevenuestreams(expandstrategically),orwillitsvalueprimarilycomefromimprovingtheexistingmodel(optimizeinternally)?

—Degreeofadoption.WillAIbeembeddedacrosstheenterprise(holistic)orappliedintargetedusecases(selective)?

Acompany’spositionalongthesedimensionsdeterminesitsAIposture(exhibit).

Determiningwhicharchetypeacompanywantstopursueislessaboutprecisionandmoreaboutaspiration.Companiesareunlikelytofitneatlyintoonearchetypeandmaystraddlemultipleones—particularlyatscale,wheredifferentbusinessunitsorfunctionsmaypursuedifferentapproaches.

6Insightsbasedondiscussionswith25directorsrepresentingapproximately50boardsandresultsfromtheMcKinsey

GlobalSurveyonthestateofAI(theonlinesurveywasinthefieldfromJuly16toJuly31,2024,andgarneredresponsesfrom1,491participants).

TheAIreckoning:Howboardscanevolve4

Exhibit

TodetermineanapproachtoAI,companiesshouldconsiderwhicharchetypetheyfitintoacrosstwostrategicdimensions.

AIposturearchetypematrix

Holistic

Degreeofadoption

Selective

Internaltransformers

Theoperatingmodelis

rewiredwithAIasthe

enterprisenervoussystem

Businesspioneers

AIistheengineof

growthandreinvention

Functionalreinventors

AIisusedindisciplined,

ROI-drivenwaysfor

targetedimprovements

PragmaticadoptersAItoolsareadoptedcarefullyaftertheyareproveninthemarket

OptimizeinternallyExpandstrategically

Sourceofvalue

McKinsey&Company

Whatmattersisthattheboardalignsonthebusiness’saspirationalstrategyusingaclearviewoftheopportunitiesandriskssothatitcantailorthegovernanceapproach.AsthebusinessgainsgreaterexperiencewithAI,theboardcanmodifyitsposture.

Thefourarchetypesareasfollows:

—Businesspioneers.AIsitsatthecenterofstrategy,drivingnewofferingsandredefining

competition.Thinkofamedical-devicecompanythatcouldevolvefromsellingequipmenttodeliveringAIsystemsthatinterpretscansandsuggestappropriatetreatments,therebytransformingfromamanufacturerintoahealthcaresolutionsprovider.

—Internaltransformers.AIbecomesthebackboneofoperations,reshapinghowanenterpriseruns.AnexampleofthisarchetypeisaminingcompanydeployingAItoguideexploration,

automateextraction,andoptimizerefining—therebytransformingalabor-andasset-

intensivemodelintoadata-drivenone.Similarly,amediastudiocouldembedAIacrossitsproductionpipeline,producingfaster,cheapercontentatscale.

TheAIreckoning:Howboardscanevolve5

Whatmattersisthattheboardalignsonthebusiness’saspirationalstrategyusingaclearviewoftheopportunitiesandriskssothatitcantailorthe

governanceapproach.AsthebusinessgainsgreaterexperiencewithAI,

theboardcanmodifyitsposture.

—Functionalreinventors.AIisusedtoenhancespecificworkflowswithprovenreturns.

CompaniestreatAIasadisciplined,ROI-driveninvestmentratherthanareinvention

lever.Asanillustrativeexample,ahealthcaresystemmightadoptdifferentAIscheduling,transcription,andworkforcetools.Oralogisticsprovidercoulduserouteoptimizationandpredictivemaintenancetocutcosts.

—Pragmaticadopters.AIisadoptedfortargetedapplicationsbasedonalreadyproven

markettraction.Thisisessentiallyafast-followerapproach.Forexample,aconsumergoodscompanymaywaituntiloff-the-shelfe-commercerecommendationtoolshavebeenprovedbeforeadoptingthemtoexpandtonewsegments.Similarly,afashionretailermightstart

leveragingAItoofferclothingrentalsandpersonalizedstylingonlyafterothersintheindustryhaveproveditseffectiveness.

TailoringoversighttosupporttheAIposture

Onceacompany’sAIpostureisclear,theboard’staskistocalibrateitsroletomatchthe

business’saspiration.Whatisessentialforapioneermovingintonewmarketswilldifferfromwhatmatterstoapragmaticimplementerwatchingcompetitors.

Toreceiveaversionofthisarticlewithadetailedviewoftheboardactivitiesforeacharchetype,please

contactus

.

TheAIreckoning:Howboardscanevolve6

Businesspioneers

WhenAIistheengineofgrowth,theboard’sroleistoensurethatexecutiveleadership

understandsAI’svaluepotentialandhowtocaptureit.Thisfoundationenablestheboardto

collaboratewithandprovidedirectiontomanagementtomakeinformedstrategicinvestmentsandassesswhetheritpossessesthenecessaryleadership,capabilities,talent,andcapital

todeliver.

Directorsshouldfocusondeterminingwhethermanagementhastheentrepreneurial

experience,technologicalknow-how,andtransformationalleadershipexperiencetorunan

AI-drivenbusiness.Theboard’sroleisparticularlyimportantinscrutinizingthesustainabilityoftheseventures—includingrequiredskills,implicationsonthetraditionalbusiness,andenergyconsumption—whilehavingaclearviewoftherangeofriskstoaddress,suchasdataprivacy,

cybersecurity,theglobalregulatoryenvironment,andintellectualproperty(IP).

ThislevelofinterventionwillrequireasufficientnumberofboardmemberswithproductandbroaderAIexperience,sotheycanactasthoughtpartnersandcrediblechallengerstomanagement.

Example:AgloballogisticscompanyleverageddecadesoftradedatatodevelopanewAI-drivenintelligenceplatform,transitioningfrombeingashippingprovidertoaninformationbusiness.

Supportfortheventureincreasedaftertheboardvalidateddefensibledatamoats,stablemodelperformanceunderdrift,andsustainablecomputecost.

Boardroomtestquestionsincludethefollowing:

—WhichcompetitiveadvantagesdoesAIenhanceorthreaten?

—DoesourAIbusinesscasetargetalargeenoughvaluepooltoreshapeourmarket?

—Whatkeyresourcesareneededtodothat,anddowecurrentlyhavethem?

—Dowehavededicatedpeoplewhocanmanagetheenvironmental,regulatory,legal,andreputationalrisksthatcomewithbeingabusinesspioneer?

—Howdoweneedtoevolveourinnovationpipelinetomatchthepaceoftechnologicalchange?

Internaltransformers

ForcompanieswiththeambitiontoembedAIacrosstheiroperations,theboard’sroleistodirectandoverseetherewiringoftheoperatingmodelatscale.Whileallarchetypesinvolvesome

operating-modelchanges,internaltransformersstretchthisacrossmultiplefunctionsintheenterprise—auniquelycomplexchallenge.

Boardsplayanimportantroleinchallengingmanagementtocertifythatoperationalgains

arestructuralratherthantemporaryandthattheymeaningfullyimprovethebusiness’s

productivity.Thisfocusrequiresdetailedknowledgeofsystemsanddependencies,aswellas

thetechnologicalfoundations(particularlyenterprisearchitecture)thatenablecross-functionalprocessmodernization.

TheAIreckoning:Howboardscanevolve7

Boardswillneedtobeparticularlydiligentinprobingresilience,observability,andexplainabilitytocertifythatsystemsarestable,trackable,andquicklycorrectedasneeded.Theboard’staskistoencouragemanagementtobalanceambitionwithadoption,makingsurethattheorganizationhasarobustupskillingprogramandincentivesalignedtothechangesneededonthefrontline.

Example:Oneglobalmanufacturer’sboardquestionedmanagementaboutwhetherAI-drivenplanning,supplychain,andmaintenancesystemswereinteroperableandstress-testedbeforeapprovingnewcapital.ThishelpedensurethattheAIinitiativeswereresilientandcouldscale.

Boardroomtestquestionsincludethefollowing:

—IsAItrulyrewiringhowthiscompanyoperatesorjustautomatingisolatedtasks?

—Whatevidencesupportsthattheoperationalchangesarebothstructuralandsustainable?

—HowconfidentisthemanagementteamthatitcantrackandunderstandhowAIisdrivingcross-functionalprocesses?

—Howshouldweshiftourbuy-versus-buildapproachtosolidifyourcompetitiveadvantageandourstrategicflexibility?

Functionalreinventors

ForcompaniesembeddingAIintoselectiveworkflows,theboard’sroleistofocusonscalingforvalue,securingcoherenceacrossinitiatives,andmitigatingvendor-relatedrisks.Boardcommitteesinspecificareas,suchasaudit,risk,andtalent,playastrongerroleindrivingAIworkflowtransformationswithintheirrespectivedomains.

Boardsarefocusedlessontheindividualworkflowmodernizationeffortsandmoreon

supportingmanagementinallocatingresourceseffectively,coordinatingdependenciesandgovernanceissuesacrossworkflows,anddeterminingwhichinvestmentshavethegreatestapplicationtoabroadrangeofworkflows(forexample,developingdataproductsthatservemultipleworkflows).Real-timedashboardscanhelpboardstrackoutcomesandprogress.

Functionalreinventorsaremorelikelytobuythanbuild,giventhegenerallynarrowfocusonworkflows.“Vendorlock-in”isn’tanewconcern,butboardscanplayacriticalrolebyprobingmanagementtoexplainhowcompetitiveadvantageisbeingprotectedandtowhatdegree

itisbeingcededtovendors.Somevendordecisionshavelong-termimplications,suchasmaintaininginternalsupportcapabilities,whichmanagementshouldclarify.

Example:Oneregionalhealthcaresystem’sboardnowasksitsCEOtopresentaconsolidated

mapofallAIpilotseachquarter,coveringscheduling,transcription,andworkforcetools.The

boardusesthisreviewtochallengewhetherpilotsarescalingeffectivelyandwhetherweakpilotsarebeingdefundedquicklyenough.

TheAIreckoning:Howboardscanevolve8

Boardroomtestquestionsincludethefollowing:

—Whichhigh-valueworkflowscanmostbenefitfromAI?

—HowdoesmanagementsettheparameterstomanagetheriskposedbyAIprogramsinspecificworkflows?

—Whataretheadvantagesandrisksofbuyingversusbuildingcorecapabilities?

—Whatisthemechanismfortrackingandscalingthemostpromisingworkflowprograms?

Pragmaticadopters

BoardsoforganizationsthatadoptapragmaticapproachtowardAIshouldconcentrateonstrategicreadinessandtheriskofinaction.Boardmemberscanbemosthelpfulbyaskingmanagementtoshareanddiscussmarketintelligence,includingcompetitormoves,marketshifts,andAIevolutions.

Duringthesereviews,boardmembersshouldbereadytoconstructivelychallenge

managementtoclarifyifandhowthesedevelopmentscouldthreatenthebusiness’slong-

termcompetitivenessandenhanceanyaspectsofthecurrentbusinessmodel.Boards

canestablishclearmetricsandescalationprocedurestotrackthematurityofrelevantAI

capabilitiesdeployedbypotentialcompetitors,aswellasconductreadinessassessmentstoensurethatthecompanyhassufficientfoundationsandcapabilitiestomovequicklywhenanAIopportunitypresentsitself.

Example:Oneenergycompany’sboarddevotesaportionofitsannualstrategyretreatto

reviewingcasestudiesofAIadoptionfromadjacentindustries.Directorsaskmanagementtomaptheelements,includingvendorpartnership,capitalallocation,andworkforcereadiness,itwouldrequiretocatchupquicklyifneeded.

Boardroomtestquestionsincludethefollowing:

—HowarewetrackingAIdevelopmentsinsidetheindustry,aswellaswithcompetitors,todeterminewhatactionsweshouldtake?

—DowehaveacredibleplantofollowfastonaprovenAIcapability,andhowdoweassessourreadinesstomove?

—Whataretherisksassociatedwithnotpivotingintimeinvariousbusinessareas?

TheAIreckoning:Howboardscanevolve9

Sixactionstotake

Ourresearchhighlightssixactionsthatboardsshouldconsidertaking,withthedegreeofpursuitvaryingpertheirAIposture:

1.AlignonAIpostureandreviewitannually(atleast).Thefirstorderofbusinessistoalignon

whatposturethebusinessshouldtakewithAI—withoutthatclarity,noneoftheotheractionsmatter.BoardsshouldthenregularlyrevisittheirAIpostureinresponsetochangesinthe

competitive,regulatory,andtechnologicalenvironments.Proactiveposturereviewsmake

surethatthecompany’sstancereflectstoday’srealitiesratherthanyesterday’sassumptions.Thisannualreviewshouldn’treplacemorefrequentengagementonthetopic(seeaction4).

2.ClarifyownershipofAIoversight—withinboththeboardandmanagement.Oversightfailswithoutclearaccountability.Boardsshouldexplicitlydefinewhichtopicsshouldbereviewedandfullydiscussedinfull-boardsessions(forexample,materialinvestmentstoscale

enterprise-wideAI),whichbelongincommittees(forexample,riskframeworksandmaterialvendorreviews),andwhichdonotrequiresignificantboarddiscussion(suchasregular

operationaldecisions).Withoutthisspecificity,ambiguityemergesandaccountabilitybreaksdownorpreciousagendatimeiswasted.

3.CodifyaframeworkforAIgovernancepolicy.Mostcompaniesdraftprinciplesorethicsstatements,butfewerthan25percentofcompanieshaveboard-approved,structuredAIpolicies.7Acrediblegovernanceframeworkshouldspecifythefollowing:

•scalingrules(whenpilotsearncapitaltoscaleenterprise-wide)

•riskthresholds(wherehumansign-offisnecessaryandwhatguardrailsshouldbeinplace)

•vendorordataguardrails(IPprotections,third-partyauditrights,security,andlineagestandards)

•escalationtriggers(whatincidentsreachtheboardandhowfast)

4.Engagemorebroadly(andfrequently)withthosedoingthework.ItisnotenoughtoengageonlywithCEOsorCFOsonAIdevelopmentsinthebusiness.Boarddirectorsshouldbe

regularlyexposedtoandinteractdirectlywiththeexecutiveswhoareembeddingAIinto

operations(suchaschiefdataandanalyticsofficersandbusinessanddivisionleaders)to

gainadeeperunderstandingofprogressagainstgoalsandimpactoncompetitivedynamics.

5.TieAIinvestmenttobusinessvalue.Boardsshouldencouragemanagementtonotonly

identifybutalsoquantifythepotentialopportunitiesandrisksassociatedwithAIadoption.Thisviewcanhelpboardsguidebusinessesthroughtheshort-andlong-termtrade-offs

thatbalanceopportunityandrisk,usingtheirAIposture.Effectivelyprovidingthatguidancerequiressolidreporting,butonlyabout15percentofboardscurrentlyreceiveAI-related

7“2025privatecompanyboardpracticesoversightsurvey:Datapack:Artificialintelligence,”NationalAssociationofCorporateDirectors,August26,2025.

TheAIreckoning:Howboardscanevolve10

metrics.8BoardsshouldhaveaccesstoimpactmeasuressuchasROIbybusinessunit,

percentageofprocessesthatareAIenabled,resilienceindicators(suchasoverrideratesandbackupdrillresults),workforce-reskillingprogress,andregulatoryalignment.This

informationhelpsreframeAIstrategic