Information Notice and Conditions on the use of Board Foresight

This information notice is provided by Board International SA (“Board “), pursuant to Article 50 of Regulation (EU) 2024/1689 on Artificial Intelligence (“AI Act“), in order to ensure the necessary transparency towards natural person (the “User”) who interact with the Artificial Intelligence-based forecasting and analytics system ” Board Foresight” (“Board Foresight“) developed and provided by Board as provider within the meaning of Regulation (EU) 2024/1689 (“AI Act”). Board Foresight integrates a third-party general-purpose AI model (LLM) provided by OpenAI, as an upstream model provider.  The model is accessed through Azure cloud services provided by Microsoft.

Users are expressly informed that, when interacting with Board Foresight, they are communicating with an artificial intelligence system and not with a human being.

Board Foresight is an automated application (the “Application”) comprising two distinct components: (i) a statistical forecasting component that does not use AI (it does not learn, does not perform machine learning, and does not perform inference) and produces quantitative predictions from macroeconomic models; and (ii) a generative AI component (the “Generative AI Component”) that interprets statistical model outputs and translates them into natural language insights. The Generative AI Component is a generative AI system within the meaning of Article 3(12) of the EU AI Act. It operates autonomously once supplied with model data, without adaptive learning based on User interactions or feedback. The underlying AI model is not modified based on usage patterns or outputs. Its defined purpose is to derive and communicate insights from statistical forecasting models and macroeconomic data; it does not itself produce forecasts or perform statistical inference. 

Despite being based on generative Artificial Intelligence technology developed by OpenAI OpCo, LLC and OpenAI Ireland Ltd (hereinafter, jointly “OpenAI“), Board Foresight has been implemented by Board with functional and operational limitations that limit its use exclusively to the interpretation of statistical forecasting outputs and macroeconomic data available in the Application and the generation of related insights, within the limits of the User’s authorized access.

Board Foresight constitutes an application whose Generative AI Component is an artificial intelligence system implemented by Board for specific and limited business intelligence purposes.
While Board Foresight integrates third-party general-purpose AI models within the meaning of AI Act, it is not provided by Board as a general-purpose AI model pursuant to Title VIII of the AI Act. Board develops and places Board Foresight on the market under its own name and brand, acting exclusively as a provider within the meaning of Article 3(3) of the AI Act. Enterprise customers who receive access to Board Foresight and use it under their own authority and for their own business planning and forecasting purposes act as deployers within the meaning of Article 3(4) of the AI Act. Deployers are responsible for complying with the obligations applicable to them under Article 26 of the AI Act in relation to their use of Board Foresight. For more information on the technology provided by OpenAI, please refer to the following documents:

• OpenAI Terms and Conditions, available at the following link: https://openai.com/en-GB/policies/terms-of-use/
• OpenAI’s Privacy Policy, available at the following link: https://openai.com/en-GB/policies/privacy-policy/

Board Foresight is not designed nor intended to be used in any of the high-risk use cases listed in Annex III of Regulation (EU) 2024/1689.

Board Foresight is available through the Application.

Board Foresight is owned by Board International SA, with registered office in via Maestri Comacini 4, Chiasso, Ticino 6830, Switzerland.

This information notice and terms of use (hereinafter, the “Terms“) apply to any use of Board Foresight by the User and constitute a binding agreement between the User and Board.

Before using Board Foresight, the User is required to carefully read these Terms accessible through the hyperlink provided when accessing the Application and always available through the disclaimer at the bottom of the Board Foresight input field. By using Board Foresight, the User accepts these Terms. These Terms may be printed and/or saved on another durable medium accessible to the User.

1.           Nature and use of Board Foresight

1.1.                  Board Foresight is designed solely to support activities that the User may perform through the Application, such as, but not limited to, the analysis, querying and interpretation of the data already uploaded to the Application. 

1.2.                  The User therefore acknowledges and agrees that Board Foresight may not provide answers with respect to other areas/matters or perform tasks and functions other than those set out in these Terms. Board Foresight uses generative Artificial Intelligence (AI) to answer User’s questions about issues and services offered by Board through the Application.  The Outputs (as defined below) – automatically generated by an AI system and without the presence of a human operator – are intended to integrate these services and facilitate the analysis of the data entered on the Application by the User. Therefore, if the User decides to interact with Board Foresight, the latter acknowledges that:

• the interactions are carried out communicating with an automated AI system;
• the responses generated do not come from a human operator;
• processing takes place through algorithmic models (i.e. an Artificial Intelligence system) capable of analysing data and generating textual and/or graphic Outputs;
• the Outputs may contain inaccuracies, omissions or outdated information.

1.3.                  Access to Board Foresight is only allowed to the User who has access to the Platform.

1.4.                  By using Board Foresight, the User agrees to:

1. not publish, send or share in any form through Board Foresight defamatory, offensive, threatening, illegal, racist, discriminatory, obscene content;
2. not to use Board Foresight to conduct activities that are unlawful or that may infringe the rights of third parties (including, but not limited to, the intellectual and industrial property rights of third parties);
3. not copy, modify, decompile, or attempt to extract the source code of Board Foresight or any component.

1.5.                  The User may at any time request human review of a specific Output or report a malfunction encountered while using Board Foresight by opening a ticket through the Application.

2.           Allowed purposes of use

2.1.                  Board Foresight may only be used by the User to:

1. generate statistical forecasts and quantitative predictions from the macroeconomic and business data available on the Application;
2. interpret the outputs of the forecasting models and translate them into natural-language insights;
3. produce reports and analyses relating to such forecasts and to the data available on the Platform;
4. support the understanding of reports, dashboards, forecasts, scenarios, trends and indicators;
5. in general, facilitate business intelligence and performance management activities;
6. obtain guidance on how to use the features and functions of the Platform (e.g. how to create a workbench, configure indicators, or navigate the interface).

2.2.                  Therefore, any request from the User that has a purpose other than and/or beyond the permitted purposes of use will not be taken care of by Board Foresight and no Output will be provided in this regard.

2.3.                  The User is expressly forbidden to:

1. use Board Foresight for purposes unrelated to the permitted purposes set out above;
2. upload or process through Board Foresight data that is not relevant to the Application;
3. generate content that is not related to the functions of Board Foresight itself and the Application;
4. carry out processing through Board Foresight that are contrary to current/applicable legislation or company’s policies.
5. falsely represent User’s identity for the purpose of using Board Foresight;
6. bypass or evade the technological protection measures present on the Application;
7. copy, modify, translate, adapt, rework, disassemble, decompile, decipher or exploit the data contained in the Application and Board Foresight, or authorize third parties to do so;
8. use Board Foresight in a manner that could damage, disable, impair and overburden Board Foresight itself and/or the Application;
9. interfere with servers or networks connected to Board Foresight;
10. engage in conduct in violation of these Terms.

2.4.                  By using Board Foresight and, therefore, by adhering to these Terms, the User agrees to use Board Foresight in a manner consistent with his/her intended purpose and in accordance with this Terms.

3.           How Board Foresight operate, limits and risks

3.1.                  Board Foresight AI Forecasting:

• receives textual input from the User;
• analyzes only the data available in the authorized environment on the Application;
• generates responses through a language model provided by OpenAI, used to interpret and describe outputs generated by statistical models. The LLM is supplied by OpenAI as an upstream model provider and is not further trained or fine-tuned based on User interactions, feedback, or application data. The underlying AI model does not perform continuous learning or training based on user inputs, usage patterns or outputs.

3.2.                  As described above, AI Forecasting outputs are generated exclusively by a statistical modelling component and not by the AI system. The generative AI component does not perform statistical inference, does not influence the forecasting results, and does not modify the underlying models. Its sole function is to process such results and convert them into human-readable insights.

3.3.                  Board Foresight does not make binding independent assessments or make executive decisions; therefore, the Output is intended as decision-making support and cannot replace human judgment. In particular, the Output must never constitute the sole basis for: (i) strategic or investment decisions involving significant financial commitments or material changes to business plans; (ii) any other decision whose consequences would be difficult or impossible to reverse. In all such cases, the Output shall be treated as one input among several and must be validated against primary sources, expert judgment and other available evidence before any action is taken. Users should apply active and independent judgment when evaluating each Output and should not treat the review step as a formality.

3.4.                  The User understands that:

• AI can generate incomplete, inaccurate or outdated Outputs;
• the Output depends on the quality, completeness and updating of the available data;
• the system may incorrectly interpret ambiguous requests;
• outputs may contain errors and must not be relied upon without appropriate human validation.

4.           Data processed and operational precautions

4.1.                  In view of the functioning, limitations and risks inherent in Board Foresight better described in Section 3 above, it is the responsibility of the User:

• always check the accuracy of the results;
• not to make critical decisions solely on the basis of the Output of Board Foresight;
• check the correctness of the queries entered.

4.2.                  In addition, the User must avoid entering/sharing with Board Foresight personal data of third parties.

5.           Transparency on the source of the Output

5.1.                  The answers provided by Board Foresight are automatically generated using a generative artificial intelligence system. In particular, Board Foresight does not limit itself to reproducing pre-existing content but processes the information available in the authorized environment of the Application in order to generate a response consistent with the request made by the User. Thus, the Output represents an automated reprocessing of accessible data, carried out through algorithmic models.

5.2.                  AI-generated Output should be reviewed by the User before being relied upon. Users can manually verify and further investigate the results of the AI-generated commentary. This supports human oversight by enabling Users to assess the relevance and accuracy of AI-generated content before relying on it.

5.3.                  It is understood that:

• the indication of data sources does not eliminate the risk of inaccuracies resulting from automated processing;
• in any case, the User is advised to check the consistency between the generated Output and the sources indicated;
• the responsibility for the interpretation and use of the results remains with the User and/or the organization holding the account.

5.4.                  The User acknowledges that the possibility of accessing the “AI Answer > Data Source” section constitutes a tool for controlling and validating the processing carried out by the AI system and undertakes to use it in the context of its decision-making activities. This transparency mechanism is intended to support informed human oversight of AI-generated Outputs. Deployers (enterprise customers) are responsible for implementing appropriate human oversight measures within their own organisations in relation to their use of Board Foresight, in accordance with Article 26(2) of the AI Act. In particular, deployers are expected to ensure that natural persons assigned to oversee the AI system possess the necessary competence to detect and address potential malfunctions or unexpected outputs, and to refrain from using the Output as the sole basis for decisions that may have a significant impact on individuals or organisations.

6.           Board Rights

6.1.                  Board retains all rights in Board Foresight, related software, Board Foresight training datasets, including intellectual property rights, as further specified in the paragraph below. Other than the access and use rights expressly granted in these Terms, the User has no other rights or powers in Board Foresight, its software, components or features. Notwithstanding the foregoing, the Customer shall remain the sole and exclusive owner of all data, information, and materials provided to Board in connection with the use of Board Foresight (“Customer Data”), as well as any data, content, reports, analyses, or other Outputs generated by Board Foresight based on or derived from such Customer Data (“Outputs”). Board acquires no ownership rights in the Customer Data or Outputs. To the extent any rights in the Outputs would otherwise vest in Board by operation of law, such rights are hereby assigned to the Customer. Board may process Customer Data and Outputs solely for the purpose of providing Board Foresight and related services in accordance with these Terms and applicable law.

6.2.                  Board reserves the right to update, modify, or discontinue the functionality of Board Foresight at any time, with or without notice.

6.3.                  Board reserves the right to:

1. monitor the use of Board Foresight, including through appropriate human oversight measures, for the purpose of verifying their use in accordance with these Terms and applicable laws and to report any violations of laws or regulations;
2. remove unsafe or other content that violates these Terms and/or applicable laws;
3. temporarily and/or permanently, suspend or disable Customer’s access to Board Foresight in case Customer violates these Terms and/or applicable regulations.

7.           Intellectual Property Rights

7.1.                  The ” Board ” trademark, as well as all figurative and non-figurative trademarks, images and logos on Board Foresight, are the exclusive property of Board and/or the respective holders of intellectual property rights and/or copyrights (e.g. OpenAI).

7.2.                  The User acknowledges that certain functionalities of Board Foresight may be powered by third-party artificial intelligence models, including but not limited to models provided by OpenAI (e.g., ChatGPT). All intellectual property rights, including any rights in and to such third-party models, algorithms, and related technologies, are and shall remain the exclusive property of the respective third-party providers. Nothing in these Terms shall be construed as granting the User any rights, title, or interest in or to such third-party models or technologies, except for the limited right to access and use them as integrated within Board Foresight in accordance with these Terms.

7.3.                  The total or partial reproduction, modification, tampering or use of these trademarks, images and logos, for any reason and on any medium, is strictly prohibited, without the express written authorization of Board and/or the respective holders of intellectual property rights and/or copyrights.

7.4.                  The User agrees that his/her requests must not violate these Terms and the rules applicable to the use of Board Foresight, including the protection of intellectual property rights. By way of example, the User undertakes not to unlawfully use materials subject to third-party intellectual property rights, of a confidential nature, or that may violate personal data protection regulations.

7.5.                  Board is not responsible for User’s use of third-party elements, such as – but not limited to – content, documents, data, trade secrets or confidential information and personal data; The User uses these elements at his/her own risk and responsibility. By accepting these Terms, the User indemnifies and hold Board harmless from any dispute, action or claim by any third party.

8.           Limitations of Liability

8.1.                  Board Foresight generates Outputs based on the requests provided by the User. The specific Outputs that Board Foresight returns based on User’s requests cannot be predicted in advance, and Board cannot guarantee the full accuracy and/or completeness of the same.

8.2.                  The User agrees and acknowledges that Board Foresight may provide inaccurate and/or incomplete information. The User is therefore responsible for verifying any information provided by Board Foresight before taking any action or making any decision based on the information received. Board is not responsible for the content of Board Foresight’ Outputs and therefore disclaims any liability to the User for any errors, inaccuracies or omissions, as well as for damages (direct, indirect or consequential) resulting from the use of such Outputs. In fact, Board has no control over the content of the datasets used by the AI system provided by OpenAI on which Board Foresight is based, therefore, it assumes no responsibility for the answers provided based on information and/or content of such datasets.

8.3.                  Board is also not responsible for the failure or inability of the User to use the Board Foresight, the delay in updating the information/answers provided by the Board Foresight, or for damages resulting from any interruption, suspension, delay or failure to connect to the Board Foresight.

8.4.                  Board has the right to temporarily suspend or terminate all or part of Board Foresight for technical reasons, without any obligation to inform Users individually.

8.5.                  The User acknowledges that Board shall not be liable and hereby waive any claim against Board for any suspension, unavailability or interruption of Board Foresight due to: (i) any failure of public communications networks (including the Internet); (ii) the Artificial Intelligence system provided by OpenAI; (iii) Customer’s hardware, software or network used to access the Application and Board Foresight; or (iv) any event offorce majeure.

8.6.                  With respect to the use of Board Foresight, the User agrees that Board shall not be responsible for the management of the User’s hardware with which the User accesses the Application and Board Foresight, and does not guarantee the connectivity and quality of the connection which may depend on factors beyond Board ‘s control such as: (i) slow, unstable or unsatisfactory connectivity,  (ii) interruption and/or congestion of the local network or internet, the inadequacy, incompatibility and/or defect of maintenance or defect of the User’s hardware, (iii) software conflicts or incompatibilities, etc.

9.           Privacy and data security

9.1.                  Board protects the privacy and security of its Users’ personal data. For any information relating to the processing of personal data, the User is invited to read the privacy notice at the following link https://www.board.com/privacy-policy-foresight .

9.2.                  The User acknowledges that Board Foresight is provided by Board exclusively for business purposes within the organizational context of the Customer (the entity that has subscribed to the Application). Inputs submitted by the User, Outputs generated, and conversation logs constitute data processed within the Customer’s authorized environment on the Application and are accessible to the Customer in accordance with the terms of the Agreement. Users are therefore advised not to use Board Foresight for personal purposes and not to submit information unrelated to their professional activities.

9.3.                  In any case, Board recommends that User does not share, in the interaction with Board Foresight, personal data that is not strictly necessary and/or required in order to manage User’s support request.

9.4.                  Microsoft Azure, as the infrastructure provider for the Generative AI Component, implements automated monitoring measures to detect usage patterns that may violate the Microsoft Enterprise AI Services Code of Conduct (https://www.microsoft.com/licensing/terms/product/ForOnlineServices). This monitoring may involve retention of samples of User inputs (prompts) and AI-generated responses (completions) for human review by Microsoft personnel located in the European Economic Area. This safety monitoring is intended solely to identify and prevent misuse of AI services in violation of applicable usage policies and does not constitute use of User data for training, improvement, or other purposes. For additional information on Microsoft’s content safety practices, please refer to https://learn.microsoft.com/en-us/azure/ai-services/openai/concepts/abuse-monitoring.

9.5.                  Board Foresight does not offer a dedicated, bulk export functionality for the full set of AI-Generated Materials (conversation logs and session histories) at administrator/tenant level. However, during a session the end user — and only the end user — may export individual outputs produced through the interaction with Board Foresight (answers in text or Excel format, charts in JPG). Customer Data remains accessible and exportable through the Application’s standard functionalities.

10.     Changes to the Terms

10.1.            Board is constantly working to optimize its services and to develop new features that improve the products for the User and our customers. As a result, these Terms may be updated from time to time to accurately reflect Board ‘s services and policies, promote a safe experience, and/or comply with applicable law. Before accessing Board Foresight, the User may always review the most current and current version of the Terms, effective from the date of publication specified below.

11.     Final provisions

11.1.            These Terms consist of all the clauses contained herein. If one or more provisions of these Terms are declared void, illegal or unenforceable by law or as a result of a court decision, the other provisions will continue in full force and effect.

11.2.            By accessing and using Board Foresight, the User acknowledges and agrees to these Terms.

12.     Contact details

12.1.            For any matter relating to Board Foresight, the User can contact Board opening a ticket through the Application.

13.     Effective Date

Last updated: September 2026