AI: Need for 'Chief AI Officers'
...'CAIO's across the government and companies
A byproduct of the current regulatory focus on AI, via legislation and executive orders, is the new, growing need for senior folks that can serve as ‘Chief AI Officers’, aka CAIOs. As Axios highlights in ‘DC’s hottest new job: Chief AI Officer’:
“Hundreds of agencies across the federal government are scrambling to find more than 400 chief AI officers by the end of the year, as Ryan reports.”
“Why it matters: The requirement, one of the edicts of President Biden's recent AI executive order, aims to make sure every arm of government has a top exec who is ready to deal with AI.”
“Driving the news: The Office of Management and Budget released guidance to federal agencies on how to implement Biden's AI executive order — and how to hire a chief AI officer (CAIO) is on top of that list.”
“The Executive Office of the President is also required to hire a Chief AI Officer, per the memorandum's definition of federal agencies.”
“The order gave agencies a 60-day window to designate a person for this role and we are now approximately halfway through that window.”
“What's happening: The primary role of a CAIO is "coordination, innovation, and risk management for their agency's use of AI," acting as eyes and ears for agency leadership.”
“The CAIO will need to develop an AI strategy for their agency, and be "deeply interconnected" with HR, IT, data, cybersecurity, civil rights, and customer experience leaders in their agency.”
“The intrigue: Though each CAIO is expected to "improve accountability for AI issues," per the memorandum, the Government Accountability Office is exempt from hiring a CAIO, along with the Federal Election Commission.”
“By the numbers: CAIOs should be employed at Senior Executive Service level (which requires PhD level education) — meaning maximum pay of $212,100.”
All this is before the federal government and its set of departments and agencies even figure out the specifics of how to implement the President’s AI 800-page Executive Order (XO). As I highlighted a few weeks ago in “Biden White House’s AI Executive Order”:
“Overall, the XO while increasing requirements for next generation LLM AI technologies on a number of fronts going forward, leave the doors open for AI innovation. A lot of the implementation details around the executive order will have to wait until federal agencies finish translating the 800 pages into specific policy requirements and actions. A lot can change from here to there on overall impact, including unintended consequences, good and bad.”
“But regulators will try and do their bit whenever we see new technologies with possible harms. And in this early stage of the process, this executive order on AI an attempt to balance both. Overall, for now at least, there is a clear effort to thread the needle in the near-term, between AI safety and opportunity in this AI Tech Wave.”
The current wave by the federal government to staff its senior ranks with ‘Chief AI Officers’ highlights that much of these secular changes need a new set of capabilities to implement not just the XO, but likely other policy imperatives that come about from AI technologies. As Axios again highlights:
“Private sector CAIOs have advice for those about to take on government CAIO roles. Several tell Axios that CAIOs should push for broad mandates covering a mix of functions — strategy, talent and skills, product development, implementation and governance.”
Much will depend on how these policies and regulations are ultimately implemented, and of course the people who will drive these policies. An area to be watched as carefully as secular AI technology innovations themselves. Stay tuned.
(NOTE: The discussions here are for information purposes only, and not meant as investment advice at any time. Thanks for joining us here)