Artificial Intelligence is rapidly becoming part of everyday business operations, from customer service and data analysis to decision-making and risk management. Yet many boards are being asked to oversee AI systems without a clear understanding of what they are, how they work, or what responsibilities come with them.
That’s exactly why we’ve created the AI Literacy Cheat Sheet for Boards.
Why AI Literacy Matters
Regulators are increasingly making it clear that board-level oversight of AI is no longer optional. Directors are expected to understand where AI is being used within their organisation, the risks it introduces, and how governance frameworks are being applied.
The challenge? Most board members aren’t data scientists—and they don’t need to be.
Effective oversight isn’t about understanding algorithms or writing code. It’s about asking the right questions, understanding accountability, and ensuring appropriate controls are in place.
What’s Included in the Cheat Sheet?
The cheat sheet provides a practical, jargon-free overview of the key concepts every board member should understand, including:
- What AI models are and where they may exist within your organisation
- The importance of maintaining an AI inventory
- Understanding model drift and ongoing monitoring
- Explainability and why regulators care about it
- Accountability under SMCR and AI governance frameworks
- The risks associated with GenAI tools such as ChatGPT and Copilot
- The questions every board should be asking today
It also outlines the three levels of AI literacy, helping directors understand what knowledge is required across the board and where deeper expertise may be needed.
Benefits of Downloading the Cheat Sheet
Gain Confidence in Board Discussions
Understand the terminology and concepts being discussed without getting lost in technical detail.
Strengthen Governance
Learn the key controls, reporting requirements, and governance structures regulators increasingly expect to see.
Reduce Risk
Identify potential gaps before they become regulatory, operational, or reputational issues.
Ask Better Questions
Boards don’t need all the answers—but they do need to know which questions to ask management and technology teams.
Prepare for Regulatory Change
Consumer Duty, SMCR, model governance, and AI oversight requirements are evolving. The cheat sheet helps directors stay ahead of expectations.
A Practical Resource for Busy Boards
The AI Literacy Cheat Sheet has been designed as a quick-reference guide that can be read in minutes but provides lasting value for board members, senior leaders, and governance professionals.
Whether your organisation is already deploying AI tools or just beginning to explore them, having a baseline level of AI literacy across the board is becoming an essential part of good governance.
AI Literacy Cheat Sheet for Boards
Everything a CEO or governance professional needs to know — without the jargon. Enter your details to download the PDF now. • 10 essential AI terms every board director must understand • The 5 questions to ask at your next board meeting • What the FCA, PRA & LMA actually expect from your board right now