Your Business Needs a Fractional Chief AI Officer

🌈 Abstract

The article discusses the challenges and opportunities for businesses in adopting AI, and introduces the concept of a "fractional AI executive" as a flexible and cost-effective solution. It covers the key barriers to AI adoption, the importance of having the right AI talent, and the benefits of a fractional executive model.

🙋 Q&A

[01] Challenges and Opportunities in Adopting AI

1. What are the key barriers to AI adoption that organizations face?

• Can we sustain a strategic edge with AI? (66%)
• How can we use AI with data security in mind? (53%)
• How can we use AI with data privacy in mind? (51%)
• How can AI achieve our desired business grade accuracy? (47%)
• The biggest concern is feeling unprepared in terms of access to the right AI talent to execute their vision (78%)

2. Why is having the right AI talent important for businesses?

• Doing AI properly inside a business is not a trivial activity, it requires strategic thinking about data, software systems, and available talent.
• The "head of AI" title has tripled over the past 5 years, indicating the growing importance of this role.

[02] Fractional AI Executives as a Solution

1. What are the key benefits of the fractional executive model?

• Lower overhead compared to full-time executives
• Ability to address specific challenges or opportunities with speed and agility
• Offer a fresh, objective perspective on the business and technological opportunities

2. How does a fractional AI executive differ from a consultant?

• Fractional executives are involved in day-to-day operations, while consultants are usually project-based, offering advice and recommendations without long-term commitment.
• Fractional executives split their time amongst several companies, while consultants engage with companies in a more serial manner.

3. How can a business find and evaluate a suitable fractional AI executive?

• Look for them on freelance marketplaces, specialized fractional platforms, LinkedIn, and tech conferences/meetups.
• Key things to assess are their authority on the topic, their ability to challenge assumptions constructively, and whether you can see yourself brainstorming with them.
• Discuss their approach to developing and implementing an AI strategy, their experience in mitigating risks, and their overall thought process and communication.