Artificial intelligence (AI) has long been a topic of both fascination and fear. Many have worried that AI would lead to job loss and unemployment. However, the reality is quite different. In fact, AI has created a new and exciting role in corporate America and beyond: the senior executive in charge of AI. Companies and organizations are recognizing the transformative potential of AI and are appointing executives to navigate and harness this disruptive technology.
The Birth of a New Role
The Mayo Clinic in Arizona made headlines in September when it created the first-of-its-kind job at the hospital system: chief artificial intelligence officer. The decision came after years of experimenting with AI and the release of ChatGPT in 2022, which sparked a frenzy over the technology. The Mayo Clinic realized the need for someone to coordinate and lead their AI efforts, leading to the appointment of Dr. Bhavik Patel, a radiologist specializing in AI, to the new role.
The creation of the chief AI officer role at the Mayo Clinic reflects a larger trend across various industries. Law firms, insurance companies, government agencies, and universities are all jumping on the AI bandwagon and appointing executives to oversee AI initiatives. Even The New York Times named an editorial director of AI initiatives, highlighting the growing importance of AI in the media industry. In total, 122 people with the title of chief or vice president of AI joined a forum on Glassdoor last year, a significant increase from just 19 in 2022.
The Need for AI Leadership
The rise of AI executive roles is driven by organizations’ desire to harness the transformative power of AI. Randy Bean, the founder of consulting firm NewVantage Partners, explains that companies want to both leverage AI and be able to say they have a chief AI officer, as it enhances their reputation. These executives play a crucial role in helping organizations navigate the risks and potential of AI and understand how it can reshape the way people work.
Just as advances in computing power led to the emergence of chief information officers and chief technology officers in the 1980s, and the 2008 financial crisis gave birth to chief data officers, the rise of AI has created a demand for executives who can guide organizations in incorporating AI into their operations. These executives are responsible for understanding the technology, identifying opportunities for its application, and ensuring its ethical and responsible use.
AI in Action: Real-World Examples
The appointment of AI executives spans across various industries, each with their unique challenges and opportunities. Let’s take a closer look at some real-world examples:
Healthcare: Bridging Gaps in Modern-Day Healthcare
In the healthcare industry, AI has the potential to revolutionize patient care and improve outcomes. The Mayo Clinic’s chief AI officer, Dr. Bhavik Patel, recognizes the gaps in modern-day healthcare and believes that AI can bridge those gaps and make medical work more efficient. His role involves communicating with other doctors, regulators like the Food and Drug Administration, and identifying how AI can be smartly utilized in healthcare.
Insurance: Enhancing Customer Experience and Efficiency
The health insurer Florida Blue appointed Svetlana Bender as the vice president of AI and behavioral science to leverage AI in improving customer experience and operational efficiency. One of her first projects was piloting an internal chatbot that can help write computer code and analyze customer data. By training the chatbot on customer data and making it available to all employees, Florida Blue aims to move quickly in adopting AI while ensuring the security of customers’ insurance data.
Consulting: Advising Clients on AI Integration
Consulting firm Accenture recognized the growing interest in AI among its clients and appointed a chief AI officer to advise customers on incorporating AI into their businesses. Lan Guan, the newly appointed chief AI officer, works with clients to understand their unique needs and develop AI tools tailored to their industries. Accenture’s ambition in the market and optimism about the potential of AI are reflected in the creation of this role.
Education: Exploring the Potential of AI in Academia
Even educational institutions are embracing AI and appointing executives to explore its potential in academia. Western University in Ontario appointed Mark Daley, a computer science professor and chief information officer, as its chief AI officer. Dr. Daley’s focus is on establishing pilot AI projects, automating auditing processes, and collaborating with faculty to develop new courses. He believes that exploration and experimentation are key to unlocking the full potential of generative AI in education.
Overall, the demand for A.I. executives has surged as organizations seek to leverage A.I. technology. These executives play a crucial role in navigating the risks and potential of A.I., coordinating efforts across departments, and driving innovation in various industries. While the future of A.I. executive roles may evolve, their impact on transforming businesses and improving efficiency is undeniable.
Photo By Minho Jung