<p>In the current technological advancement landscape, artificial intelligence (AI) is becoming increasingly integral to business operations and strategies. This study examines the evolving function of the board in the governance of artificial intelligence (AI) technologies, addressing the critical need for a comprehensive AI governance framework to inform oversight, strategic alignment with long-term business goals, and adherence to emerging ethical and regulatory standards. To date, most studies on AI ethics generally focus either on the work of software developers or on regulating AI technologies in general, with little focus on the board’s role or the board’s responsibility in overseeing and monitoring these technological advancements in the private sector companies. Boards have an important role in ensuring an ethical AI culture and effectively managing both the potential of AI technologies and their organisational risks, including ethical, programming, and reputational risks. Accordingly, a board’s fiduciary responsibility is to oversee the design, development, and deployment of AI technologies and their potential impact on business and society. The study aims to evaluate the current state of AI governance by boards, identify the gaps and challenges in effective oversight, and propose a set of guidelines or best practices. To achieve this, a qualitative phenomenological approach was used to understand and interpret the experiences of board members in JSE-listed companies in South Africa, with the goal of uncovering the meanings within their lived experiences. Purposive sampling was employed for the purposes of the study. The contribution of this study is to offer novel and much-needed solutions to the overarching problem of how to bridge the current knowledge and practice divide, ensuring that stewardship boards play a role in an age where AI technologies are the driving force for the competitive edge of organisations. To ensure responsible AI ethics governance, the study suggests that boards must establish robust structures, processes, and rational mechanisms that ensure that AI is developed and used responsibly. The study recommends setting up an AI centre of excellence in private sector corporations, enhancing the Social and Ethics Committee for AI oversight, establishing a board technology committee and AI governance framework principles, AI experts at the board level, and providing board training.</p>