NEW YORK – Following related issues at WeWork, SoftBank Group Corp. will introduce new standards to tighten corporate governance at companies in which it invests, the Financial Times reported Monday. SoftBank is expected to outline the new standards Wednesday, the British newspaper said, citing people briefed on the plan. The tougher governance standards will apply to future investments made by SoftBank. Meanwhile, its Saudi Arabia-backed Vision Fund is in discussions about how it can adopt some or all of these measures, according to the paper. For private companies, SoftBank will look to have at least one board seat, require at least one independent director and prohibit directors from owning "supervoting" shares, the report said.
The cloud can provide your organization with substantial benefits -- if you adopt an effective cloud governance model. Businesses established before the cloud era (or those that took their IT governance cues from that time) struggle the most with the square-peg-round-hole problem that attempting to use a legacy model with cloud creates. It's true that businesses have historically benefited from centralized IT control and decision-making. That governance model helped to ensure that IT investments aligned with strategic goals. It also usually saved money.
What does the U.S. military have to do with your business? Your first inclination might be to write the armed services off as irrelevant in this area, but consider the parallels. It is a global organization that must succeed despite the efforts of highly motivated adversaries. It also has complex alliances and agreements to share information and cooperate. When it comes to access governance, the Pentagon isn't perfect, but there is still plenty to learn from its process.
Now is the time to take stock, consider how we can maintain and improve upon the data-driven innovation we have seen, and build the governance that is worthy of the trust of citizens over the long term. Trust can be fragile and fleeting, but I know from my experience as an entrepreneur working in the data and technology industry that action can be taken to build and maintain it. For example, the adoption of consistent standards and clear governance frameworks can enable organisations to adopt new technologies with confidence, and can help organisations to earn the trust of citizens to provide their data. This is a route to use data for the benefit of businesses and citizens alike. The CDEI's research shows that public support for greater use of digital technology is closely related to trust in its governance.
As a result, addressing governance of the use of artificial intelligence technologies requires action on many levels. "It does not start at the IT level or the project level," says Kamlesh Mhashilkar, head of the data and analytics practice at Tata Consultancy Services. AI governance also happens at the government level, at the board of directors level, and at the CSO level, he says. Get the latest insights with our CIO Daily newsletter. In healthcare, for example, AI models must pass stringent audits and inspections, he says.