Nicolas Darveau-Garneau is an AI and digital transformation expert with over 25 years of experience. He was Google’s Chief Evangelist, where he worked with the C-suites of more than 800 of Google’s top customers to help them accelerate their digital transformation. Nick also worked as Chief Strategy and Growth Officer at Coveo, a leading AI company. He currently serves on the boards of the Toronto Stock Exchange, iA Financial Group, McEwen Mining, and Alida. In this episode we discuss all things AI from a boardroom perspective. We also address regulatory challenges, geopolitics, the OpenAI board fiasco, and some of the novel corporate structures around leading AI companies. If you like this show, please consider subscribing, leaving a review or sharing this podcast on social media. You can also contribute as a Patron on the link patreon.com/BoardroomGovernancePod or you can subscribe to the Boardroom Governance Newsletter at evanepstein.substack.com This podcast is sponsored by the American College of Governance Counsel.
(0:00) Intro.
(1:28) About the podcast sponsor: The American College of Governance Counsel.
(2:14) Start of interview.
(3:09) Nick's "origin story."
(6:36) On his first startup IMix.com (focused on music streaming)
(7:55) His pivot as an equity analyst at Sanford Bernstein.
(8:32) His focus on investing in and advising internet companies.
(9:56) His time at Google (2010-2022), first in Canada then as Chief Evangelist.
(13:21) His time at Chief Growth and Strategy Officer at Coveo, a Canadian AI company (2022-2023).
(14:44) Joining the boards of the Toronto Stock Exchange, iA Financial Group, McEwen Mining, and Alida and advising boards on AI. Teaching at the Rotman School of Management, Northwestern and the Canadian Institute of Directors (ICD).
(16:55) Defining AI. The types of AI: 1) Computational AI, 2) Sensors AI, and 3) Generative AI.
(21:22) The future of Generative AI: Big Tech or startups?
(24:42) On whether the investment mania in AI is justified. "This technology wave is likely to be much more significant than the internet." "It's the most important technology wave that I have ever seen in my career."
(26:19) How corporate directors should think about opportunities and risks of AI. "The most important thing in governance for a board, in my view for AI, is making sure there is movement." Other risks: 1) Use of confidential information, 2) Creating a private version of AI, 3) Hallucinations (fake information by AI), 4) Issues of bias. Corporate training.
(35:07) On where AI fits in board committees, and on surge of AI experts on boardrooms. *recommendation by Nick: Coursera class on prompt engineering (Vanderbilt University).
(39:51) On AI regulation by the US (EO by President Biden), EU, Canada and others.
(46:03) The US-China race on AI - geopolitical implications. *reference to Marc Andreessen's article Why AI Will Save the World.
(50:03) On OpenAI's board fiasco and some of the unusual governance structures of leading AI companies.
(54:45) Books that have greatly influenced his life:
(55:50) His mentors: #1 his mother, #2 McKinsey & Co.
(56:33) Quotes that he thinks of often or lives her life by: "You miss 100% of the shots you don't take" by Wayne Gretzky.
(57:30) An unusual habit or absurd thing that he loves: Keeping track and data of his healthcare. He recommends the book "Outlive" by Peter Attia. Two tests that he recommends: Cleerly heart scan using AI and Galleri test for cancer detection. Tracks VO2 Max.
(1:00:04) The living person he most admires: Anders Tegnell (Sweden's state epidemiologist).
(1:02:18) Recommendation for corporate directors on where to get started on getting educated on AI.
Nicolas Darveau-Garveau is an AI and digital transformation expert. He was Google’s Chief Evangelist and worked as Chief Strategy and Growth Officer at Coveo, a leading AI company. He currently serves on the boards of the Toronto Stock Exchange, iA Financial Group, McEwen Mining, and Alida.