What is a CAIO -- and what should they know?

The role of Chief Artificial Intelligence Officer (CAIO) is gaining prominence in organizations that are deploying generative AI technology. According to research firm IDC, 11% of midsize and large organizations have already filled a CAIO role, and another 21% are actively seeking one. CAIOs are expected to be strategic members of the organization and are responsible for extracting ROI from AI technology. The Biden administration has also mandated that all federal agencies appoint CAIOs to promote AI innovation and manage risks associated with the technology. However, the responsibilities and authority of CAIOs vary between organizations. Ensuring data quality and ethical considerations are important aspects of the role, as well as collaboration and continuous learning across all functions within an organization. While most organizations have not designated CAIOs as an official C-suite role, the position is often filled by CTOs or CISOs. However, PricewaterhouseCoopers (PwC) believes that the CAIO role should be dedicated and accountable for an organization's AI initiatives. The successful deployment of AI is crucial as it is expected to become a part of everyday life by 2030. [Extracted from the article]