If Your ROI From AI is Elusive, Your C-Suite Could Be the Problem

When it comes to technology knowledge, you cannot simply leave it to the CIO or other technology-dominant roles, like the chief digital officer or the chief data and analytics officer, to carry the organization.

Technology and AI savviness help everyone:

• Make strategic decisions: Executives with a strong grasp of technology and AI can make better-informed, more data-driven decisions that align with the enterprise’s strategic goals.

• Pursue competitive advantage: Technologically savvy executives can better position their organization to outperform competitors who may lack that savviness.

• Transform the culture: AI-savvy leaders can lead by example to foster an environment that embraces change and experimentation.

• Manage risk: Savviness is crucial for identifying and managing the enhanced levels of risk that exist in today’s digital-first environments, as well as addressing ethical considerations.

• Engage stakeholders: AI-savvy executives can more effectively communicate the value and impact of technology and AI initiatives to stakeholders.

• Overcome fear, uncertainty and doubt: Improving savviness can reduce concerns grounded in a lack of information, while also improving stakeholder engagement and performance.

Adopt a scale of executive savviness to measure a leader's current level and provide the appropriate development to help them progress.

Basic: Aware of AI concepts, terminologies and applications, and clear about the inputs and outputs of different AI use cases and applications.

Intermediate: Clear about the benefits of AI — and how they are distinct from the benefits of other technologies — from both a business and an ethical standpoint.

Advanced: Can make sound business and ethical judgements about AI. Bridges the gap between recognizing AI’s theoretical benefits and generating tangible value from it.

Expert: Knowledge enough about AI to teach or mentor on AI use and translate AI implementation into shareholder value.

Do not rely on embedded AI features within enterprise platforms to provide the knowledge and skills people need. They are not a substitute for learning and could introduce operational risk for the enterprise.

Promote continuous education in AI: Offer workshops, seminars, online courses and boot camps focused on AI and emerging technologies. Create space for dedicated learning time each week and consider making certification mandatory. 

Create an AI advisory board: Include partners and industry experts to discuss and provide insights on the various aspects of AI implementation in your organization, such as mitigating issues from deepfakes, security and privacy issues, and value capture.

Foster cross-functional partnership: Encourage collaboration and informal meetings between business executives and technology teams to enhance understanding and integration of AI solutions. Establish a C-suite community of practice (CoP) that will pilot using AI to assist with or automate specific tasks — with help from AI experts from the organization.