The recent news of the addition of CAIO got everyone talking about this role in creating safeguards around ai.
While the title sounds appealing, it comes with some uncertainty in terms of expectations and responsibilities.
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While bringing its unique distinctive capabilities to the table, this role sits at the intersection of many key roles, such as business executives, legal counsel, chief technology officer (CTO), and chief data officer (CDO), among others.
In aligning the ai strategy with business prerogatives, the CAIO also discusses the need (and plan) to modernize the existing architecture to make it ai-ready, advising and monitoring the level of technological maturity with the CTO. Additionally, this executive ai role is also responsible for safeguarding ai initiatives while ensuring they are commercially viable, aligning with the office of the CFO.
Simply put, singular ai leadership is essential to effectively integrate ai into business and redefine the traditional way of doing business.
Now that we are aware of how this role interacts with its peers, let's look at why the role is necessary now. Why haven't we heard more about CAIOs before?
In addition to the Biden administration announcing the importance of this role, the pace at which the field of ai is evolving demands an ai executive who can spot leading indicators of where the technology is headed and build the muscle of innovation in the company. and execute the ever-evolving roadmap faster than the competition.
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It is like preparing the organization to reap the benefits of leveraging ai in the most effective and efficient way; rather than waiting for industry leaders to indicate the best use of this technology.
Backing this belief with numbers, there has been a growing trend in the title “ai Director” on LinkedIn, from 250 in 2020 to 781 such positions in the latest search.
It will not be wrong to say that companies investing in CAIO decisions are well prepared to adopt ai technology and witness business growth in the years to come.
The CAIO can raise awareness of ai among everyone, including peer executives, and contribute significantly to ai literacy programs. It is similar to creating an ai council, led by CAIO, that raises awareness and brings everyone together to make a collective call on how to leverage ai to reshape their businesses.
An argument could be made for adding another executive position that needs to partner with peers to generate synergies; However, identifying ai opportunities without taking unwanted risks requires expertise, which is materialistically different from business as usual (BAU).
CAIO has domain expertise that, driven by its systematic approach to ai adoption, helps everyone align to choose the right initiatives, rather than going all over the place.
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ai should never be something done for PR campaigns or just another checkbox activity. It requires an executive who has a sharp focus on overseeing its development and adoption in a responsible manner.
Building an ai culture
ai is not something that is done overnight. In fact, it is a multi-year transformation journey that is rooted in establishing the right culture and bringing everyone together. This strategic hiring can integrate ai into the fabric of your entire organization.
- Attracting ai talent is a huge challenge in itself; However, the problem quickly worsens when organizations that are struggling with their ai roadmap begin to lose their data scientists. And it is so with good reason. The field requires staying updated with the latest technological trends and also being practical. The moment DS teams realize that the company's ai vision is more of a fancy aspiration than a solid business proposition, they will soon take action. Therefore, the presence of a CAIO solidifies the ai vision and affirms the team's confidence that everyone is working in the right direction to generate meaningful business impact.
- CAIO knows the language of ai and can articulate technical requirements to engineering and DS teams effectively. This communication plays a crucial role in the smooth ai product development cycle, reducing unnecessary iterations that arise due to lack of ai expertise.
- One of the main issues slowing the progress of ai initiatives is executive buy-in. With the introduction of CAIO, acceptance becomes easier as the organization already has an ai executive who can communicate the possibilities with ai.
There is much more to add to highlight the added value this role brings, something I will cover in a follow-up post; However, one thing is clear.
CAIOs are not just another fancy onboard designation. They build and execute an ai strategy by deriving it from a business strategy and working in conjunction with a data strategy.
Even if there are other potential contenders, such as CDOs and CTOs, who can take on this role, it is crucial to note that CAIOs have the expertise to perform the due diligence required by ai and are adequately equipped to handle the challenges. only ones presented. with ai.
In short, it is not just a title. Each organization may have a different designation that corresponds to CAIO. Your version of CAIO could be a VP, SVP, Director, or Head of ai who already does the same job.
Rather, it is about the depth of knowledge and the ability to drive innovation and transformation in ai initiatives.
Vidhi Chugh is an ai strategist and digital transformation leader working at the intersection of product, science, and engineering to build scalable machine learning systems. She is an award-winning innovation leader, author and international speaker. Her mission is to democratize machine learning and break down the jargon so everyone can be a part of this transformation.
