As countless organizations race to investigate or adopt artificial intelligence, a new role is evolving to help them manage its complexities: the chief AI officer. Research from Foundry finds that 11% of midsize to large companies have already designated someone in this role, and 21% are actively seeking one.
A CAIO, or chief AI officer, oversees a company’s overall AI strategy and acquisition, implementation, and monitoring of AI technology across the organization. It’s a demanding position requiring a solid technical understanding of AI technologies, business acumen, leadership, and communication skills. The role is also concerned with ensuring that all AI-related initiatives are aligned with company goals and ethical standards.
The most visible CAIOs are likely to be at tech vendors specializing in AI, but the role is also emerging at other types of businesses, Reeves says. A recent job ad posted on LinkedIn for the position reveals that a significant insurance provider is looking to hire an “AI chief officer” to lead the organization’s transformation with the help of AI and other innovative technology.
GE Healthcare, for example, recently hired a senior technology leader named Parminder Bhatia as its first CAIO, who reports to the company’s CTO but works in close partnership with GE’s various business units. His goal is to help the organization leverage its AI and other technological resources to improve global healthcare equity, for instance, by deploying machine learning-enabled tools that run on various ultrasound machines and allowing even clinicians without specialized training to conduct rapid diagnostic assessments and provide better patient care.
Bhatia’s approach aims to make the most of the potential of AI while limiting its risks and ensuring that the technology is ethically and legally managed. “AI is very much like a hammer that can be used to solve any problem,” he says. He adds that CAIOS must keep its eyes open for ways to apply the technology and ensure it’s used responsibly and meets ethical standards.
Many experts hesitate to name CAIOs, given its connotations with “a lion-headed digital avatar,” Reeves notes. But, in the end, it doesn’t matter what you call them; what matters is that this is a critical new C-suite role that is quickly becoming a requirement for any company that wants to stay competitive with its AI-enabled competitors.