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Over the past five years, the number of companies appointing Chief Artificial Intelligence Officers (CAIOs) has nearly tripled, as more companies try to understand and explore the opportunities and risks inherent in AI applications, writes the Financial Times.
What do they do? “CAIOs don’t usually have a deep interest in AI development. Tom Hurd, chief executive of Zeki, says that being a CAIO is “more about governance, socializing of the tech.” Applicants usually come from computer science or business backgrounds, which allows them to oversee the use of AI within the organization and strategically, use the tool to enhance work efficiency, diversify revenue streams, and cater to ethical and security concerns.”
Even the White House made it official. Although the role’s responsibilities are not yet clear, the Office of Management and Budgeting policy now requires federal agencies to designate Chief AI Officers. They also require that they establish AI Governance Boards to “ensure accountability, leadership, and oversight for the use of AI in the Federal Government.”
The search for AI expertise is a classic case of supply and demand. Fawad Bajwa, AI lead at recruiters Russell Reynolds Associates, says “There is a small pool of talent that is being [sought] by a lot more people.” He explained to the Financial Times that this is making it difficult to recruit, considering that junior engineers are expecting seven-figure salaries to take on the role.
Not everyone is on board though. Harrick Vin, CTO at Tata Consultancy Services, believes that it shouldn't be just one person assigned the responsibility, but a department. “Every function — whether sales, marketing, or software engineering is getting redefined leveraging AI — one person can’t be an expert,” he said.
Is the role expected to stick around? It is common for roles to emerge in response to global trends, such as the Chief Diversity Officer during the Black Lives Matter movement. But CAIO summit founder, Mathison, believes it will remain relevant and continue to adapt to technological improvements.
