In general, the position involves filling in the gaps between the bigger company’s macro strategy and the critical micro elements of working with AI. As companies look for advice on how to use AI, a relatively new technology, to save time and increase productivity, it has recently become a significantly more common position in the corporate sector.
Businesses across a variety of sectors, including semiconductors and staffing, have been aggressively seeking chief AI officers. These individuals are anticipated to be crucial in guiding organizations toward the use of AI as the field continues to change quickly. That can be very helpful at times, as many CEOs seem to be unclear of how to embrace, finance, or apply the technology. Just 27% of the 3,400 C-suite executives surveyed by Accenture recently stated that their organizations are prepared to use generative AI to grow.
However, several companies are unsure about the role’s requirements and what it comprises. Moreover, recruiters claim that it takes effort to discover someone who suits the position.
A chief AI Officer Needs More Than Just Technical Expertise
Businesses considering increasing their AI spending may be asking themselves if they really need to bring on a chief AI officer in light of the availability of highly skilled data scientists and machine learning engineers.
Most experts say the answer is yes. It is insufficient to have the abilities necessary for data analysis and machine learning, another popular tech career that entails creating, constructing, and training AI systems so they can eventually begin to make decisions for themselves.
According to Greg Selker, a managing director at the executive recruitment agency Stanton Chase, the ideal chief AI officer should be knowledgeable about a wide range of topics, including the creation and operation of massive language models. They must also understand how the entire company may use these AI models.
Selker told Business Insider, “They can’t be a data scientist who spends their time writing algorithms.” “The chief AI officer is more going to be involved in creating the applications that are going to be leveraging the LLM.”
The majority of his small- and medium-sized companies can create their own LLMs without the assistance of a machine learning engineer or data analyst, said to Chris Daigle, CEO of ChiefAIOfficer.com, an AI consulting business. All they require is a leader who knows how to integrate the existing AI tools into various areas of their company.
Other than computer science talents, the profession requires them as well. According to Justin Kinsey, head of recruiting agency SBT Industries, his clients require a leader capable of navigating the complex ethical landscape around the use of AI. He claims that knowing it will guarantee that productivity increases are achieved in a secure way. SBT Industries is actively recruiting chief AI officers for two semiconductor firms.
Many have stated that leadership abilities and strategic thinking are essential for the position.
A ChatGPT expert with a few automation tricks under their sleeve, for instance, would not always know how to leverage the AI chatbot to alter a business, according to Daigle. Rather, before applying generative AI to the business, the chief AI officer should have a thorough understanding of it on both a macro and micro level.
According to Kinsey, the ideal combination is “a blend of technical expertise, strategic vision, and executive-level leadership,” as she explained to BI.
A Chief AI Officer is a Difficult Position to Fill
It can be challenging to locate the ideal applicant who fulfills every need for the chief AI officer position, business experts told BI.
“The sheer newness of this field means it’s challenging to identify a leader who has already demonstrated the breadth of capabilities to succeed in such a role,” Kinsey said.
Companies could also need to make the financial commitment to invest in this job, which Selker of Stanton Chase notes might be costly.
“It remains to be seen how many companies are actually going to fund the implementation of the strategies — and at what level,” the executive search consultant said regarding AI.
Businesses Must Have Experience With AI, or Else They Risk Falling Behind
However, recruiters advise companies that aspire to be an AI-first organization to think about appointing chief AI officers.
Selker advised them to consider the position as an extension of the chief information officer or data officer at the very least, in order to have a systemic understanding of AI application.
According to him, the key to a company’s success in the AI space may lie in developing an all-encompassing AI strategy.
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