Artificial intelligence's quick increase in value-add has left organizations struggling to embrace this exceptionally cutting-edge innovation. Executives battle to get it. At an essential level, the terminology is confounding, AI, deep learning, reinforcement learning, and so on. The business use cases are hazy, and the experts are for the most part in the scholarly world, have their own new companies or are at top tech organizations.

Regardless of whether your company needs a chief AI officer is where there have been differences of opinions. Nonetheless, the essential thought is to have somebody who heads or leads the AI activities over the company. The title could be chief AI officer, Vice-president (VP) – AI research, Chief Analytics Officer, Chief Data Officer, AI COE Head or possibly, Chief Data Scientist and so on. One must comprehend that building AI/ML models and deploying them in production is only one piece of the entire story. Perspectives identified with AI governance (moral AI), automation of AI/ML pipeline, infrastructure management opposite utilization of cloud services, one of a kind project implementation strategy and so forth., become of prime significance once you are finished with the employing of data scientists for building the models. This is the place one would require an individual who leads the diverse AI initiatives, for example, the one referenced previously. Let's have a look at why it is important to have a chief AI officer.

CTO vs CAIO

One of the confusions individuals have is that the CTO and CIO of an organization should know the stray pieces of each and every innovation. In any case, that isn't valid for each situation. An extraordinary CTO and CIO realize how to have a solid IT foundation, how to use the best of the product, and if they don't know inside and out about AI, that is adequate on the grounds that the AI domain is huge.

Also, thus the requirement for CAIO. A chief AI officer (CAIO) must be somebody who has an inside and out information of the AI domain and is updated with the most recent patterns. That isn't all, he/she should likewise have the option to settle on some of the critical decisions regarding execution, budget, and final product.

Legal Perspectives

Given the present regulatory scenario, it is completely conceivable that a future CAIO would be the owner of the organization's governance and information privacy benchmarks, ensuring that they are upheld at all levels of the organization while additionally paying special attention to new threats. As the AI troops all through the company start to work with data in a self-administration platform, guaranteeing appropriate governance approaches would be no little accomplishment, notwithstanding for one CAIO. Topics like machine learning interpretability, trust, and morals would likewise fall under this umbrella.

The Need for an Expert

Numerous companies neglect to completely use AI in light of the fact that the C-suite often doesn't comprehend AI abilities. Hire an expert who comprehends the innovation and sees how to take care of business issues with it. An AI expert in the room will decrease worries about the income effect of a new AI framework and potential business threats.

Partners with promising thoughts get shut down by company pioneers since they don't comprehend the effect this new framework can have on the business. Try not to let the c-suite's absence of ability in this field shield your company from making huge AI-driven changes with tremendous potential upsides to your business. It resembles not utilizing the internet

since you don't have the foggiest idea of how TCP sockets work.

Andrew Ng, the originator of Coursera, adjunct professor at Stanford University and a top AI expert, contends that the Chief AI Officer is somebody with the business mastery to take this new glossy innovation and contextualize it for your business. Fundamentally, somebody with both the solid academic foundation and the business insight to take care of business issues utilizing AI.

Importance of Data

Over the recent years, companies over the globe have seen the significance of data. In any case, there are numerous companies that are as yet not totally fit for using that data for the great.

A CAIO enables a company to comprehend ways how that information can be utilized. While numerous companies depend on customary techniques and systems, a company with a CAIO make sense of the most recent and the most progressive approaches to precisely convey results utilizing the data. Having tremendous knowledge about the data science, AI and machine learning space, a CAIO creates procedures that marry the business and analytics skills required to make the most out of cluttered data.

Operations

In this situation, the CAIO would be most in charge of the execution and coordination of effective project delivery. That implies a major spotlight on production and operationalization. One can sensibly envision that in the enterprise of the future where it's not just around one, two, or even three models, yet 1,000 (or 10,000) models running simultaneously, overseeing delivery could be the critical task for a c-level position.

Besides the above mentioned, some key responsibilities of a Chief AI officer are:

•  Distinguish AI tasks of high business impact including both product projects related ventures, and also research projects. Work together/discuss adequately with product owners speaking to various product offerings.

•  Give thoughts and insights into new plans of action that could be empowered by utilizing AI.

•  Layout the AI projects/products execution processes including project initiation, analysis stage, model building stage, model deployment, and model retraining. Make sure the project deployment governance on a continuous basis.

•  Set up the plan and administer the execution of the AI platform which will be utilized to deploy and have ML models.

•  Play a key job in choosing technologies and related guide map for improvement, testing, deployment of AI/AI models.

•  Set up the plan and administer the usage of constant delivery/deployment systems (A/B testing, canary testing and so on) of ML models.

•  Set up the procedure/plan for moral AI and manage its execution across various AI projects. Engage with the interaction related to moral AI with partners including clients/partners AI governance group, auditors, controllers on a continuous basis.

•  Set up the plan and supervise the execution of ML pipeline automation to be utilized for automated ML model retraining/testing across various AI projects.

•  Contract a group of data scientists. Give training and tutoring to the group.

•  Participate in communication with clients, stakeholders, media partners etc.