New Delhi, May 27 -- The most troublesome presence at a board meeting once used to be that of an activist investor. Then came the issue of cybersecurity. Then ESG. And now, marching confidently into the boardroom with the swagger of a management consultant and the unpredictability of a toddler, comes AI. Corporate India seems to have embraced it with its usual blend of excitement, PowerPoint slides and confusion.

Every listed company now appears to possess an 'AI strategy.' CEOs announce 'AI-first' transformations with the solemnity of a constitutional amendment. Committees are formed. Workshops are conducted. The term 'large language model' is hurled around. Directors nod thoughtfully in the hope nobody asks them to explain what the com...