The AI race has moved past experimentation. 2026 is about execution at scale. The winners won’t be the fastest adopters. They’ll be the ones with the governance to deploy AI decisively across their organizations. Everyone else is already behind.

When I was considering joining Dell Technologies in 2022, one thing stood out above all else. It was the culture around artificial intelligence. Dell had decided to take AI seriously. The organization was thinking disruptively, moving with intent, and treating itself as the first test case, not just the advisor. It made me curious and convinced me.

Nearly four years later, I can say the leap we’ve made in AI, both as an organization and in my own leadership, has been remarkable. It has fundamentally changed how I work, how I lead, and how I see the future, with a strong sense of optimism.

This shift is not just about productivity. It is about whether organizations can scale AI safely, effectively, and continuously innovate. At its core, this is a question of governance.

The leader who cannot look away

There is a temptation among senior executives to treat AI as a technology matter, as something to delegate to the CIO or CTO, while the real business of leadership continues elsewhere. That temptation should be resisted firmly.

A leader must have a horizontal view across the organization. Strategy, culture, operations, finance, and risk are all now shaped by AI. This is not something that can be delegated away from the top. Leadership teams that try to do so are not reducing complexity; they are allowing it to build, unseen and unmanaged.

My own experience confirms this. Since embracing AI tools in my daily work, my leadership has genuinely moved forward. I use my time more intelligently. I produce more value in the role, and I see the same effect ripple through the organization: people doing more meaningful work, freed from the routine tasks that once consumed their days. This is not a marginal efficiency gain. It is a qualitative shift in what leadership and professional work can mean.

Governance: The leadership trend that cannot wait

Among the many dimensions of AI leadership, one has emerged as the defining challenge of 2026: governance.  This is where the AI race will be decided, not in pilots, but in the ability to scale with control.

This is not primarily a regulatory question, though regulation matters. It is a leadership and competitiveness question. 

"As John Roese, Dell's global CTO and chief AI officer, wrote in a Dell blog post last December, “Top on the list is governance. We haven’t established strong governance frameworks yet.” He added that “governance in general will be a big deal in 2026,” and that inside the enterprise, “investment in a structured approach to AI will become a requirement.”

Companies are often moving faster than their organizational structures can absorb, from AI pilots to genuine production environments. In that transition, governance gaps appear. Who is accountable for an AI system's outputs? How is training data governed? What happens when a model fails, or behaves unexpectedly, at scale?

These questions are already surfacing in boardrooms. And the leaders who have clear answers will have a competitive advantage over those who do not.

Data is the asset and the vulnerability

AI does not merely use data. It amplifies data's value and its risk simultaneously.

Modern AI platforms ingest vast volumes of information, generate new data continuously, and concentrate an organization's most sensitive intellectual property in ways that were not true even five years ago. 

The security implications are direct. As Dell's President and Chief Security Officer, John Scimone, observed in a blog post last October: "Hackers go where the data is," and increasingly, that means where the AI is. 

This changes the risk calculus for leadership teams in a fundamental way. AI governance and data security are not separate conversations to be routed to different functions. They are two sides of the same strategic question: can we trust the systems on which our business depends?

An integrated, whole-of-company approach to risk and opportunity is no longer a best practice. It is a baseline.

Infrastructure as strategy

For much of the past decade, infrastructure was treated as a commodity, something to outsource, abstract away, or procure from whichever cloud provider offered the best commercial terms. AI has reversed that logic.

Where data resides, who controls it, and under what jurisdictional framework it is processed have become board-level questions. The concept of sovereign AI ensuring that data sovereignty, model ownership, and operational continuity remain under an organization's own governance is moving to practical architecture decisions.

The question organizations must now answer is not merely which AI tools to deploy, but what kind of AI platform to build on. 

Finland's moment if it chooses to take it

Finland carries some genuine advantages into the AI era. 

The Nordic country has technology-oriented people. Digital literacy runs deep. Trust in institutions, a precondition for data-sharing and AI deployment at scale, remains comparatively high.

And yet the Finnish economy has not grown. That is the uncomfortable fact sitting alongside those advantages.

AI offers a path to a growth leap that organic development alone cannot provide. The United States offers a preview: a meaningful share of recent GDP growth is now attributable, directly or indirectly, to AI-driven productivity. Projections for the coming years are more striking still. The same potential exists here. But potential is not destiny.

What is required is a change from companies, from workers, and above all from leaders. The AI revolution is not arriving. It has arrived. The only useful question now is what each organization will do about it.

The best place to start is with oneself. Leaders who have done that internal work, who have actually changed how they operate, not merely approved a strategy slide, are the ones driving genuine transformation in their organizations. At Dell, we have trained for this, measured it, and held ourselves accountable to it. We want to be the best reference for what we preach.

Governance is not the brake. It is the engine

Some leaders worry that governance frameworks will slow AI innovation. The concern is understandable but misplaced.

Ungoverned AI does not move faster. It moves recklessly, accumulating hidden liabilities in data quality, security exposure, regulatory risk, and organisational trust that eventually force a costly reckoning. "Governance is not about slowing down innovation," Roese argues. "It's about building the guardrails that allow us all to accelerate safely and sustainably." 

The organizations that will succeed with AI over the next decade are not necessarily those with the most impressive early pilots. They will be those who built the infrastructure, governance, and cultural readiness to operate AI at scale reliably, securely, and with clear accountability.

AI can help address major global challenges. But that requires trust. And trust requires governance. The opportunity is immediate, and so is the risk of inaction. Delays now will be difficult to reverse later.

Finland has the technological capability and institutional foundations. What remains is leadership, the courage to build trust and take the growth leap within reach. The work does not start with another strategy document, but with each leader choosing to step into the unknown. In a race already underway, delay is not neutral. It is a decision to fall behind.

|

Voices

As AI scales in 2026, governance will decide who wins

As AI scales in 2026, governance will decide who wins

·

5 min read

The AI race has moved past experimentation. 2026 is about execution at scale. The winners won’t be the fastest adopters. They’ll be the ones with the governance to deploy AI decisively across their organizations. Everyone else is already behind.

When I was considering joining Dell Technologies in 2022, one thing stood out above all else. It was the culture around artificial intelligence. Dell had decided to take AI seriously. The organization was thinking disruptively, moving with intent, and treating itself as the first test case, not just the advisor. It made me curious and convinced me.

Nearly four years later, I can say the leap we’ve made in AI, both as an organization and in my own leadership, has been remarkable. It has fundamentally changed how I work, how I lead, and how I see the future, with a strong sense of optimism.

This shift is not just about productivity. It is about whether organizations can scale AI safely, effectively, and continuously innovate. At its core, this is a question of governance.

The leader who cannot look away

There is a temptation among senior executives to treat AI as a technology matter, as something to delegate to the CIO or CTO, while the real business of leadership continues elsewhere. That temptation should be resisted firmly.

A leader must have a horizontal view across the organization. Strategy, culture, operations, finance, and risk are all now shaped by AI. This is not something that can be delegated away from the top. Leadership teams that try to do so are not reducing complexity; they are allowing it to build, unseen and unmanaged.

My own experience confirms this. Since embracing AI tools in my daily work, my leadership has genuinely moved forward. I use my time more intelligently. I produce more value in the role, and I see the same effect ripple through the organization: people doing more meaningful work, freed from the routine tasks that once consumed their days. This is not a marginal efficiency gain. It is a qualitative shift in what leadership and professional work can mean.

Governance: The leadership trend that cannot wait

Among the many dimensions of AI leadership, one has emerged as the defining challenge of 2026: governance.  This is where the AI race will be decided, not in pilots, but in the ability to scale with control.

This is not primarily a regulatory question, though regulation matters. It is a leadership and competitiveness question. 

"As John Roese, Dell's global CTO and chief AI officer, wrote in a Dell blog post last December, “Top on the list is governance. We haven’t established strong governance frameworks yet.” He added that “governance in general will be a big deal in 2026,” and that inside the enterprise, “investment in a structured approach to AI will become a requirement.”

Companies are often moving faster than their organizational structures can absorb, from AI pilots to genuine production environments. In that transition, governance gaps appear. Who is accountable for an AI system's outputs? How is training data governed? What happens when a model fails, or behaves unexpectedly, at scale?

These questions are already surfacing in boardrooms. And the leaders who have clear answers will have a competitive advantage over those who do not.

Data is the asset and the vulnerability

AI does not merely use data. It amplifies data's value and its risk simultaneously.

Modern AI platforms ingest vast volumes of information, generate new data continuously, and concentrate an organization's most sensitive intellectual property in ways that were not true even five years ago. 

The security implications are direct. As Dell's President and Chief Security Officer, John Scimone, observed in a blog post last October: "Hackers go where the data is," and increasingly, that means where the AI is. 

This changes the risk calculus for leadership teams in a fundamental way. AI governance and data security are not separate conversations to be routed to different functions. They are two sides of the same strategic question: can we trust the systems on which our business depends?

An integrated, whole-of-company approach to risk and opportunity is no longer a best practice. It is a baseline.

Infrastructure as strategy

For much of the past decade, infrastructure was treated as a commodity, something to outsource, abstract away, or procure from whichever cloud provider offered the best commercial terms. AI has reversed that logic.

Where data resides, who controls it, and under what jurisdictional framework it is processed have become board-level questions. The concept of sovereign AI ensuring that data sovereignty, model ownership, and operational continuity remain under an organization's own governance is moving to practical architecture decisions.

The question organizations must now answer is not merely which AI tools to deploy, but what kind of AI platform to build on. 

Finland's moment if it chooses to take it

Finland carries some genuine advantages into the AI era. 

The Nordic country has technology-oriented people. Digital literacy runs deep. Trust in institutions, a precondition for data-sharing and AI deployment at scale, remains comparatively high.

And yet the Finnish economy has not grown. That is the uncomfortable fact sitting alongside those advantages.

AI offers a path to a growth leap that organic development alone cannot provide. The United States offers a preview: a meaningful share of recent GDP growth is now attributable, directly or indirectly, to AI-driven productivity. Projections for the coming years are more striking still. The same potential exists here. But potential is not destiny.

What is required is a change from companies, from workers, and above all from leaders. The AI revolution is not arriving. It has arrived. The only useful question now is what each organization will do about it.

The best place to start is with oneself. Leaders who have done that internal work, who have actually changed how they operate, not merely approved a strategy slide, are the ones driving genuine transformation in their organizations. At Dell, we have trained for this, measured it, and held ourselves accountable to it. We want to be the best reference for what we preach.

Governance is not the brake. It is the engine

Some leaders worry that governance frameworks will slow AI innovation. The concern is understandable but misplaced.

Ungoverned AI does not move faster. It moves recklessly, accumulating hidden liabilities in data quality, security exposure, regulatory risk, and organisational trust that eventually force a costly reckoning. "Governance is not about slowing down innovation," Roese argues. "It's about building the guardrails that allow us all to accelerate safely and sustainably." 

The organizations that will succeed with AI over the next decade are not necessarily those with the most impressive early pilots. They will be those who built the infrastructure, governance, and cultural readiness to operate AI at scale reliably, securely, and with clear accountability.

AI can help address major global challenges. But that requires trust. And trust requires governance. The opportunity is immediate, and so is the risk of inaction. Delays now will be difficult to reverse later.

Finland has the technological capability and institutional foundations. What remains is leadership, the courage to build trust and take the growth leap within reach. The work does not start with another strategy document, but with each leader choosing to step into the unknown. In a race already underway, delay is not neutral. It is a decision to fall behind.

Board Programme

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Five sessions, one cohort, twenty leaders in one room - Helsinki, 2026.

Board Programme

Built for Nordic listed company boards.

The only programme in the Nordics designed specifically for listed-company board work.
Five sessions, one cohort, twenty leaders in one room - Helsinki, 2026.

Authors

Riikka Salminen is the managing director at Dell Technologies, Finland, and the Baltics. Dell helps organizations and individuals build their digital future and transform how they work, live, and play. The company provides customers with the industry’s broadest and most innovative technology and services portfolio for the AI era.

Riikka Salminen is the managing director at Dell Technologies, Finland, and the Baltics. Dell helps organizations and individuals build their digital future and transform how they work, live, and play. The company provides customers with the industry’s broadest and most innovative technology and services portfolio for the AI era.

Authors

Guest writer

Riikka Salminen is the managing director at Dell Technologies, Finland, and the Baltics. Dell helps organizations and individuals build their digital future and transform how they work, live, and play. The company provides customers with the industry’s broadest and most innovative technology and services portfolio for the AI era.

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Executive Intelligence

Helsinki's boards run 270 committees under 60 different names

Sep 1, 2026

Around forty of those names belong to a single company each. Citycon has the only cyber committee on the exchange, and last year it did not meet.

Citycon's board has a Cyber Committee. It is the only one on Nasdaq Helsinki. The company's own governance disclosure records that in 2025, the Cyber Committee did not convene. Its Audit and Governance Committee met four times that year. Its Nomination and Remuneration Committee met seven.

A cyber committee is a defensible answer to a real exposure for a listed property owner. What stands out is that no other Helsinki-listed board has formalised the same risk in the same way, or in many cases at all.

35+ committee names belong to a single company each

Citycon is not the only board with a committee nobody else has. Raisio established an M&A Committee at its 2025 annual general meeting, chaired by board chair Arto Tiitinen. Orion runs an R&D Committee, chaired by Hilpi Rautelin, the only one of its kind in the Finnish listed market. Revenio has an Integration Committee. GRK Infra has a Tender and Project Committee. HKFoods runs a Working Committee and a Special Committee. Fortum has folded technology and investment into one body, and YIT has done the same with investment and projects.

Audit and remuneration still do almost all of the work

Across 184 Helsinki-listed companies, 127 have at least one board committee. Fifty-seven have none. Those 127 boards run 270 committees between them.

The functions concentrate tightly. Audit appears in 122 committee mandates, remuneration in 71, and people, personnel or human resources in 59. Nomination or governance appears in 26, sustainability in 14, risk in 13.

Another 11 committees use "Compensation" instead of remuneration, so a body explicitly charged with pay appears in 82 of the 270 — and that still excludes the 17 Personnel, People and Human Resources committees holding the same mandate without naming pay.

The names do not concentrate at all. After normalising for capitalisation and ampersands, those 270 committees carry 60 distinct labels, and 38 of them are used by exactly one company.

Most of that variety is cosmetic. People and Sustainability. Sustainability and Personnel. Sustainability and HR. Remuneration and HR. HR and Compensation. People and Compensation. Human Resources and Remuneration. Seven labels, one mandate.

The Code mandates the function, not the label

None of this is a compliance failure. The Finnish Corporate Governance Code 2026 is explicit: "Companies do not have an obligation under the Corporate Governance Code to establish committees or a shareholders' nomination board. As the establishment of the committees is not obligatory, the lack of committees is not deemed to be a departure from the code and therefore there is no need to report or explain it."

The Code also lets boards merge mandates, stating that "the board of directors may combine duties of the committees referred to in the Corporate Governance Code into a single committee or also establish other permanent or temporary committees, combine the duties assigned to different committees, or decide that a certain matter be prepared by the entire board of directors ". It requires only that the statutory audit duties sit somewhere, whether in a dedicated audit committee, in another committee, or with the board as a whole.

Committee data does not aggregate across Helsinki

For a board, a specialist committee is a statement about where directors spend their hours. Orion formalising research and development, and Nokia formalising both technology and strategy, tell a reader something that the committee list in an annual report otherwise flattens.

For anyone reading across the market, the absence of a shared vocabulary is the cost. Screening Nasdaq Helsinki for boards with a technology committee returns no reliable answer. Nokia, Kalmar, Kempower and Revenio call it Technology. Fortum calls it Technology and Investment. Sotkamo Silver calls it Technical. Citycon has carved cyber out on its own. (That reading is interpretation. It is a comparability problem for investors and index work, not a governance failing at any individual company.)

Worth watching is whether specialist committees spread beyond the handful of boards that run them. Technology-type committees number seven across the market. Cyber committees number one, and last year it did not meet.

Market Signals

OP Pohjola's best dividend payers on the Helsinki exchange, forecasts through 2028

Aug 31, 2026

Finnish companies under OP Pohjola's equity research coverage are set to offer an average dividend yield of roughly 6.5 per cent for the 2026 financial year, according to a review published by OP Media on 28 August 2026. For many names on the list, the forecast yield keeps rising through 2027 and 2028.

The top of the list is dominated by Mandatum, with a forecast dividend yield of 12.8 per cent for 2026, settling to 8.0 per cent in both 2027 and 2028. Terveystalo follows at 8.2 per cent for 2026 and 2027, climbing to 10.2 per cent by 2028, then Anora (7.8% → 9.1% → 9.1%) and HKFoods (7.5% → 8.7% → 9.9%).

OP Pohjola's dividend yield forecasts, 2026e–2028e

Company

2026e

2027e

2028e

Mandatum

12.8%

8.0%

8.0%

Terveystalo

8.2%

8.2%

10.2%

Anora

7.8%

9.1%

9.1%

HKFoods

7.5%

8.7%

9.9%

Elisa

6.8%

6.9%

7.1%

Aktia

6.5%

6.7%

6.7%

eQ

6.5%

7.1%

7.1%

Enento

6.4%

6.4%

6.4%

UPM-Kymmene

6.3%

6.3%

6.3%

Pihlajalinna

6.2%

7.2%

8.1%

Fiskars

6.2%

6.2%

6.5%

Raisio

6.0%

6.4%

6.4%

Lassila & Tikanoja

5.9%

6.4%

7.1%

Nordea

5.7%

6.0%

6.1%

Atria

5.3%

5.6%

5.9%

Marimekko

5.3%

5.8%

6.3%

Valmet

5.2%

5.6%

5.6%

Tokmanni

5.0%

5.7%

6.4%

Nurminen Logistics

5.0%

5.0%

6.7%

Telia

4.8%

5.1%

5.3%

Yield alone is not the point

OP Pohjola's Chief Analyst Antti Saari cautions against reading a single year's percentage as a verdict on a dividend stock.

"For a long-term investor, what matters is not just this year's dividend, but how the dividend develops in the future and what the company's outlook is otherwise. It is never a good idea to base an investment decision solely on a single year's dividend yield"

The article's argument is that a high headline yield can mislead: dividend growth, whether earnings actually cover the payout, and the company's broader business outlook say more than one year's figure.

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