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Do we need Chief Artificial Intelligence Officers Now?/ai-insights/do-we-need-chief-artificial-intelligence-officers-now
Do we need Chief Artificial Intelligence Officers Now?

Do we need Chief Artificial Intelligence Officers Now?

November 30, 2021

From the element of mere fiction, Artificial Intelligence has traveled to the true essence of reality. The machines that think and act like human beings also grew beyond expectations. Nowadays, AI has been a part of our everyday life, and an integral part of the current digital world. From the AI-driven applications like Siri and Alexa that help you make decisions like purchases/transactions, to the ride-sharing applications like Uber, AI has been marking its vitality in the daily routine of the present world.

Businesses have also changed the way they function, with the use of Robotics and Intelligent machines handling the majority of their repetitive, automated, and decision-based operations. As per 83% of the businesses, AI remains to be a strategic priority when their businesses are considered today (source).

AI systems learn from the experiences and implement human-like tasks with proper input. This has been a boon to businesses with the processing of large amounts of data, recognizing huge data patterns, predicting and forecasting the future of the businesses, etc. By the year 2027, it is estimated that the global market of Artificial Intelligence will improve its value and reach 266.92 billion US dollars. (Source).

AI Job Roles in Demand

According to the Forbes report, AI job roles have seen a major increase with at least a 74% growth rate every year. (Source). As a consequence, today, AI has risen to be one of the most innovative and influential technologies of today’s world, with the power to cater best experiences to businesses across industries and individuals. Artificial Intelligence Certifications can add more strength to the knowledge and skills possessed by AI professionals.

With this regard, the top-listed three AI-based job roles highly in demand are as follows:

  1. Business Intelligence Developer

    The market for Business Intelligence made $15.6 billion in the year 2016 globally, and now it is expected to reach about $29.48 billion in the year 2022, ie. 11.1% CAGR, says Upgrad. (Source).

    The Business Intelligence Developer is responsible to create, manage and implement the business intelligence processes. They are responsible to manage the data modeling tools, implement visualization of data and control the interactive dashboards. With the above tools, a business intelligence developer can convert the data to useful insights, to make prompt business decisions. 

  2. AI and Machine Learning Engineer

    According to the reports of Indeed, the job openings between 2015 and 2018 for Machine Learning Engineer positions have grown to 344%. (Source).

    AI engineers work with the problems of Artificial Intelligence and technologies. Both machine learning and Artificial Intelligence have been integral parts of the IT segment. 

  3. Robotics Engineer

    According to LinkedIn, there is a more than 40% rise in global demand for robotics professionals. Robotics Engineer deals with both hardware and software roles, with complex technologies required to equip the systems with outstanding business intelligence.

    Robotics Engineering generates well-paid jobs and the specialization skills in 3D CAD design technology, precise programming skills, etc. are greatly in demand. 

    The World Economic Forum reports state that Artificial Intelligence has grown with a net increase of about 58 million jobs worldwide. (Source).

AI leaders or Chief AI Officers (CAIOs) facilitate the adoption of AI in businesses and the processes become streamlined, quick, and impactful with the proper management of Artificial Intelligence Officers.

AI leaders possess great leadership skills which are beneficial to integrate the employees, bring vision and innovation, along with the logical policies that ease the business processes.

Though AI systems can make decisions or automate the processes, a human touch is necessary to make things favorable to the end-users, who are certain humans, not machines. Leaders make necessary changes in the processes, monitor the AI-driven tasks, and also motivate other employees who work with technologies.

Empathy is a factor to be considered while dealing with employees, their pain points, and their capability to resolve possible team conflicts. Though AI can make decisions, analyze trends and patterns, critical thinking is still safe and remains best with the AI leaders.

Ethics, guidelines, and thoughts or ideas with human touch are something that the machines lack, and it needs the previous experience, logical reasoning, and expertise of the leaders in collaboration with the use of AI-driven systems.

According to a Capgemini survey, emotional intelligence is a vital skill necessary for the age ruled by AI. (Source). It was also found that more than 74% of executives believe that Emotional Intelligence is expected to be the must-have skill for intelligent systems and this is going to increase more than six times. But human intervention is necessary to ensure that the systems behave desirably. Hence leaders are necessary to shape AI-oriented business operations.

The Organizations that hire CAIOs

A CAIO can let organizations recognize the various ways data can be utilized. A company with CAIO is successful in finding out the latest methods to obtain results with the data. With in-depth know-how about AI, data science, and Machine learning concepts, CAIO will be able to drive the strategies required to analyze and implement the intelligence in the business processes. 

Companies like Qualcomm, Uber, Levis, and ExxonMobil have CAIOs in their C-suite and are gearing up the business intelligence.

Aramark, a non-technical business, had already pitched in the requirements of having CAIO to re-brand the power of data and turn it into an asset.  The famous retail chain firm, Maxima, and AI-based job hunt platform, Talent 500, also favor the requirement of hiring a dedicated AI officer to redefine the business intelligence opportunities.

Conclusion

Gartner's report states that by 2023, a minimum of 50% of enterprise applications will have AI functionalities embedded in the systems to trigger the need for AI professionals worldwide. (Source).

I leaders should be prepared for the future and use their industry-relevant expertise, knowledge, etc. to gear up the business processes. AI certifications can be a helpful asset to regain, modify and update the knowledge and equip the leaders to build a perfect AI career.

Based on the skills, experience, and qualifications possessed by the AI professionals, the organizations will have more opportunities to specifically allocate to the Chief AI Officers.