Companies such as Walmart, Delta, and Starbucks may potentially utilize Artificial Intelligence to monitor work communications. The latest update on this topic is provided by FOX Business correspondent Lydia Hu.
The emergence of generative artificial intelligence, notably following the introduction of OpenAI’s ChatGPT, has prompted organizations to seek professionals capable of implementing and leveraging this rapidly advancing technology.
According to Indeed’s recent U.S. Jobs and Hiring Trends Report released in November, there has been a twenty-fold increase in AI job postings from the beginning of 2023 to the end of October.
In line with this trend, there has been a noticeable uptick in a potentially sought-after role for 2024: Chief AI Officer (CAIO).
Glassdoor data reveals that the number of individuals with titles such as chief or vice president of AI participating in forums surged to 122 last year, up from 19 in 2022. The demand for CAIOs is expected to soar this year, particularly in government sectors, with over 400 federal departments actively seeking candidates for these positions.
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However, what exactly does this new position entail, and who is best suited for it? Should a Chief AI Officer possess an engineering background, legal expertise, or another specialized skill set?
Asha Palmer, Senior Vice President of Compliance at the educational technology company Skillsoft, emphasizes that the specifics of this role may vary depending on the industry and organization. It is crucial for leaders to have clear answers to these questions before committing to establishing a dedicated AI role within the C-suite.
Companies may not necessarily require a designated CAIO, but oversight of AI usage is essential, as noted by Skillsoft’s Senior Vice President of Compliance, Asha Palmer.
Palmer highlighted the importance of assessing the organization’s use cases, strategies, and goals related to AI implementation. Understanding the risks associated with AI usage and identifying individuals capable of balancing these risks and opportunities effectively are critical steps for businesses.
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Rather than appointing a Chief AI Officer, Skillsoft has opted for an AI governance committee comprising a diverse team responsible for oversight. This committee includes representatives from various departments such as legal, engineering, compliance, and customer success.
Palmer stresses that regardless of the decision to hire a CAIO or establish a governance board, AI should be a focal point within the organization, with prominent oversight and transparency.
Asha Palmer recommends that companies establish AI oversight protocols promptly, if not already in place.
She further advised that boards should scrutinize the organization’s AI applications and associated controls, as AI is becoming increasingly prevalent, driving efficiency and effectiveness. It is imperative for companies to proactively address AI-related considerations, as regulatory frameworks are likely to evolve in response to the technology’s widespread adoption.
Palmer emphasized the importance of initiating strategic AI planning and compliance measures ahead of regulatory mandates to foster sustainable and responsible AI integration within businesses.
