Nasdaq Collaborates with Microsoft to Reimagine the Boardroom Experience using Artificial Intelligence
Nasdaq (NDAQ) has introduced new AI-powered features for its Nasdaq Boardvantage® Board Portal, hosted on Microsoft Azure. These enhancements aim to streamline board material summarization, providing strategic insights and actionable recommendations. This collaboration with Microsoft seeks to help governance teams save time and costs, enabling them to focus on critical initiatives. A Nasdaq survey revealed that 84% of board members expect increased scrutiny and time demands. By integrating generative AI capabilities, Nasdaq aims to automate labor-intensive governance tasks. The platform is available in Asia and is rolling out in North America, with plans for global expansion. Nasdaq will host a “Future of the Boardroom” virtual event on May 31, 2024, featuring discussions on trends and technologies in corporate governance.
- Introduction of AI-powered features to Nasdaq Boardvantage® Board Portal, enhancing efficiency.
- Collaboration with Microsoft Azure enables strategic insights and actionable recommendations.
- 84% of board members expect increased scrutiny, aligning the new capabilities with market needs.
- Automation of cumbersome governance processes like summarizing reports, saving time and costs.
- Nasdaq Governance Solutions is used by nearly half of Fortune 100 clients across 4,500+ organizations.
- Rollout of the platform in North America, with plans for further global expansion.
- Hosting of “Future of the Boardroom” virtual event to discuss trends and innovative technologies.
- No specific financial metrics or revenue impact disclosed in the announcement.
- Potential high costs associated with AI integration and migration to Microsoft Azure.
- Initial availability to Asia and North America, delaying benefits for other regions.
Insights
The integration of AI-powered capabilities into Nasdaq Boardvantage is a significant step in modernizing corporate governance. Generative AI, like the one powered by Microsoft Azure OpenAI Service, can streamline the preparation of board materials by summarizing lengthy documents. This technological advancement can save substantial time for governance teams, thereby allowing them to focus on more strategic initiatives. Furthermore, the ability to extract and highlight important information from extensive materials can empower board members to make well-informed decisions. This move aligns with the growing trend in the industry to leverage AI for operational efficiencies and better decision-making processes.
Challenges and Considerations: While the potential for time and cost savings is clear, it’s also important to consider the accuracy and reliability of AI-generated summaries, as any errors or misinterpretations could lead to flawed decision-making. Additionally, there might be an initial learning curve for users to effectively integrate and trust these systems. However, as AI technology continues to evolve and improve, these challenges are likely to diminish.
The rollout of these AI capabilities reflects a broader trend in the market towards leveraging advanced technologies for enhanced corporate governance. The fact that 84% of board members expect increased scrutiny and time requirements underlines a significant need for efficiency, which AI can help address. The collaboration between Nasdaq and Microsoft not only highlights the importance of technological partnerships but also positions Nasdaq Boardvantage as a competitive offering in the market.
Market Implications: For investors, this development signals Nasdaq's commitment to innovation and its proactive approach to addressing market needs. This move might enhance Nasdaq's market position and potentially attract more clients to its platform, given the increasing reliance on data-driven decision-making in corporate governance. In the long term, widespread adoption of these AI capabilities could lead to improved performance and satisfaction among Nasdaq's client base.
From a financial perspective, the partnership with Microsoft and the introduction of AI-powered tools can be seen as a strategic investment by Nasdaq. The integration of these technologies may generate cost efficiencies and enhance the overall value proposition of Nasdaq Boardvantage, potentially leading to increased revenue streams from new and existing clients. The scalability of deploying these tools on the Microsoft Cloud also suggests a significant potential for increased market penetration.
Financial Impact: Investors should consider the potential for improved financial performance due to higher client retention and attraction. However, the immediate financial benefits might be offset by the initial costs associated with the technology integration and migration to the Microsoft Cloud. Long-term financial gains are more likely as these efficiencies take full effect and adoption increases.
New artificial intelligence powered capabilities help governance teams and corporate secretaries realize time and cost savings
NEW YORK, May 30, 2024 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) today announced its Capital Access Platforms division has introduced new artificial intelligence (“AI”) powered capabilities for the Nasdaq Boardvantage® Board Portal on Microsoft Azure. These capabilities, powered by Microsoft Azure OpenAI Service, are designed to help governance teams quickly summarize board materials, which can help to highlight crucial information and provide strategic insights and actionable recommendations. This may not only equip board members with essential information for informed decision-making, but also help governance teams with time and cost savings, so they can focus on vital board initiatives.
“The future of the boardroom is at an inflection point – board members are facing ever-evolving pressures and are expected to manage increasing risks and responsibilities with historically limited technological support,” said Jeff Thomas, Executive Vice President of Nasdaq’s Corporate Platforms business. “The document summarization capability is the first of a series of planned AI-enabled offerings for Nasdaq Boardvantage customers as we bring an intelligent layer to the board portal and reflects our commitment to empowering boards to navigate the complexities of corporate governance and redefine what’s possible through integrated solutions. Our collaboration with Microsoft allows us to unlock greater business insights, accelerate innovation and optimize operational excellence for our clients.”
A Nasdaq survey found board members are looking to technology for new ways to be more efficient and data-informed, with
“We are excited to collaborate with Nasdaq on innovative, AI-powered solutions to better serve its clients around the world,” said Judson Althoff, executive vice president and chief commercial officer at Microsoft. “By migrating its board portal application Nasdaq Boardvantage to the Microsoft Cloud, Nasdaq is able to unlock new generative AI experiences—including a document summarization capability built on Azure OpenAI Service — to help board members increase efficiency of communications and gain insights for more informed decision-making.”
Nasdaq Governance Solutions is used by nearly half of Fortune 100 clients across more than 4,500 organizations. As part of the collaboration with Microsoft, Nasdaq is migrating its Nasdaq Boardvantage platform onto the Microsoft cloud so that all its customers can take advantage of the new generative AI capabilities. Nasdaq Boardvantage® on Azure is currently available for customers in Asia and is being rolled out in North America now with plans to roll out to other geographies in the future.
Future of the Boardroom
The fast-paced world of corporate governance continues to evolve as board and governance professionals face increasing demands from more diverse stakeholders. Coinciding with today’s launch, Nasdaq is pleased to host a “Future of the Boardroom” virtual event on May 31, 2024, that will congregate senior executives and leaders from across the governance ecosystem to discuss the latest trends impacting board performance, as well as innovative technologies to help drive productivity. To register to attend Future of the Boardroom, click here.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.
© 2024 Nasdaq, Inc. The Nasdaq logo and the Nasdaq ‘ribbon’ logo are the registered and unregistered trademarks, or service marks, of Nasdaq, Inc. in the U.S. and other countries. All rights reserved. This communication and the content found by following any link herein are being provided to you by Nasdaq, Inc. and/or certain of its subsidiaries (collectively, “Nasdaq”), for informational purposes only. Nasdaq makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. At the time of publication, the information herein was believed to be accurate, however, such information is subject to change without notice. Nothing herein shall constitute a recommendation, solicitation, invitation, inducement, promotion, or offer for the purchase or sale of any investment product, nor shall this material be construed in any way as investment, legal, or tax advice, or as a recommendation, reference, or endorsement by Nasdaq.
Cautionary Note Regarding Forward-Looking Statements:
Information set forth in this release contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “may,” “potentially,” “expects,” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to the performance of, and customers’ experience with, product features in the Nasdaq Boardvantage® Board Portal. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
Nasdaq Media Contact
Peter Gau
(201) 388-9682
Peter.Gau@nasdaq.com
-NDAQG-
FAQ
What new features has Nasdaq introduced for its Boardvantage® Board Portal?
How does the collaboration between Nasdaq and Microsoft benefit board members?
When will the new AI-powered Nasdaq Boardvantage® be available in North America?
What percentage of board members expect increased scrutiny and time demands?
Which cloud platform hosts the new AI-powered Nasdaq Boardvantage® features?
