If I may is a courteous way of asking permission to speak. If I may, there is a third possibility.
It asks and proceeds in the same breath, which is what makes it useful in meetings. It is formal and slightly old-fashioned, and it works because it sounds humble.
1phraseif i mayA courteous way of asking permission to speak.
“If I may, I think the figures are from the wrong year.”
if i may is a phrase.
Practised in Small Talk & Everyday Phrases