Artificial intelligence (AI) has moved from the theoretical fringes into the practical corporate world. According to a recent report from AI business forecasts consultant PwC, 73% of US companies have already implemented AI in at least some areas of their business, and 54% of companies surveyed have implemented generative AI in some areas.
The shift is global. According to International Data Corporation (IDC), 80% of CIOs will use organizational change to leverage artificial intelligence, automation and analytics by 2028 in Asia Pacific.
This new reality is forcing organizations to develop AI leadership internally and coordinate AI adoption across different parts of the company while strengthening their AI strategy and goals.
Consequently, more and more companies are appointing the position of Chief AI Officer to internally coordinate AI applications and use AI more effectively with stakeholders such as suppliers and customers. The Foundry Report found that 11% of midsize and large organizations have already appointed a chief artificial intelligence officer, while another 21% of large organizations are looking for one.
Appointments cross sectors and occur in both public and private organizations. In the US, President Biden is demanding that all government agencies appoint a chief artificial intelligence officer. In the private sector, leading technology companies such as software maker SAP, legacy industry leaders such as Japan’s Hitachi, and other midsize to large companies are rushing to find and hire such a specialist. Smaller companies still solve this problem through other internal technology groups.
The emergence of the chief artificial intelligence officer fits into a broader trend of creating more specialized roles within organizations. For example, in the past, compliance, risk management, and innovation functions were part of other corporate functions; they now have their own leadership structure. The role of the Chief AI Officer, like the Chief Risk Officer, is designed to consolidate capabilities and demonstrate the role’s value to the organization. However, the new role has faced some backlash recently, including in the field of artificial intelligence, with some academics and industry leaders arguing that all employees should be involved in this strategically important area.