The lack of skills in artificial intelligence is a real issue. According to a recent study by Randstad, a recruitment firm, job advertisements seeking generative AI skills have increased by 2,000% since March. It is now the third most demanded […]
The lack of skills in artificial intelligence is a real issue. According to a recent study by Randstad, a recruitment firm, job advertisements seeking generative AI skills have increased by 2,000% since March. It is now the third most demanded skill set and one of the least available.
While it makes sense for companies to appoint a Chief AI Officer (CAIO) to drive their AI efforts, what about everyone else? Startups and growing companies also need to integrate AI, especially if they want to attract investments in this AI-driven era. However, they often lack the resources or organizational structure to support a full-time executive solely focused on artificial intelligence.
This is where fractional AI officers come in. Fractional leadership has become a workforce trend, involving experienced executives with specialized knowledge who work simultaneously for two or more clients, lending their talents to fast-growing companies in need of their specific skill set but unable to afford full-time employment.
What sets fractional AI officers apart from fully employed ones is a key aspect: the breadth of experience across multiple companies gives fractional executives an advantage over their counterparts in terms of artificial intelligence, especially generative AI, which is a relatively new technology.
Three Phases of AI Adoption
Although the potential of generative AI is significant, companies find it challenging to establish a reliable return on investment measurement early in the adoption process, especially in an environment that demands conservative spending.
Increasing productivity and workflow efficiency are likely to be the main drivers of generative AI adoption. According to a recent BCG study, generative AI can bring significant improvements to workflows, operations, and internal tools. Participants who used GPT-4 completed 12% more tasks on average and 25% faster than the control group that did not use GPT-4. This represents the first phase in which we will see a return on investment. Let’s call it Horizon 1.
Horizon 2: User Experience
This leads us to the next phase of generative AI adoption: enhancing the user experience. Today, users expect significantly better and more personalized digital experiences. They will switch to competitors if their needs are not recognized and met. Generative AI can bring personalization to your digital experiences.
What is a fractional AI officer?
A fractional AI officer is an experienced executive with specialized knowledge who works simultaneously for multiple clients, lending their talents to fast-growing companies that cannot afford full-time employment.
How can generative AI improve workflows and efficiency?
Generative AI can bring improvements to workflows through process automation, faster decision-making, and greater precision in task execution, resulting in increased productivity and efficiency.
What is the first phase of generative AI adoption?
The first phase of generative AI adoption is the phase where productivity and workflow efficiency are increased. This is where the initial return on investment in generative AI will be seen.