Do You Need A Chief AI Officer?

As Artificial Intelligence Technologies Become More Widespread In Business, Is Now The Time To Hire A Caio?

- Finbarr Toesland

WHY ARE SOME COMPANIES HESITATING IN HIRING A CAIO?

Despite the growing interest in AI technologies and their application to all areas of business, only eight per cent of large companies currently employ a CAIO. Whether due to difficulty finding the right talent or simply not having developed a comprehensive AI plan, many businesses are missing out on the benefits a CAIO can bring to their operations.

“Unfortunately, the role of AI is underestimated in many companies and domains, but in the near future, we will definitely see more and more CAIO or similar positions. As a company’s strategy and direction involves the need for in-depth AI, there lies the need for such a position,” explains Yury Gubman, head of AI at Knowmail, a start-up working to optimise email management.

Artificial intelligence has quickly gone from a buzzword to a revolutionary force in businesses across virtually all sectors, but major challenges are set to hamper the full innovative potential of advanced AI solutions. A recent report from analytics firm Teradata saw 91 per cent of respondents say there are still barriers to full AI realisation, with 40 per cent of respondents believing a lack of IT infrastructure will slow adoption and a further 34 per cent saying lack of access to talent will also be an issue.