A new Altrata study examines the background and characteristics of this emerging executive position.
NEW YORK, Dec. 12, 2024 /PRNewswire/ — Today Altrata, the leader in intelligence on the wealthy and well-connected, released 2024 Executive Insight: Chief AI Officers, a look at the evolving role of Chief AI Officers.
The study highlights the rapid increase in Chief AI Officer (CAIO) roles, particularly among private companies, with numbers expected to grow significantly over the next few years. It examines almost 35,000 public and private companies in the US and finds a 70% year-on-year increase in the number of individuals appointed to a CAIO role or equivalent. While the role is becoming more common, some companies such as Apple and audio equipment maker Bose created the role back in 2018, along with private equity-owned Meduit Group in 2019.
Looking at current CAIOs around the world, most are internally appointed, with a median tenure (so far) of 6 years at their organization. This indicates a preference for promoting internal talent over hiring externally at present. The average age is 51 years and they have been in the role for an average of 2 years so far.
Other key insights revealed in 2024 Executive Insight: Chief AI Officers include:
• The majority of CAIOs, at 63%, are found in the private sector, 33% work for public companies like WPP (UK), Schneider Electric (France) and Melexis (Belgium) and 4% work for government entities or departments
• The majority of CAIOs lack senior-level experience outside of tech, such as in areas like operations, sales or finance, revealing a potential gap in strategic knowledge among AI leadership
• Some of the most common former employers of current Chief AI Officers are Google, IBM, Oracle and Accenture
• Large and prominent universities producing large numbers of Chief AI Officers include the University of Texas at Austin, Stanford and Harvard
As artificial intelligence continues to reshape industries, it’s not just technology that’s evolving — it’s the leadership team too. Altrata’s latest study is critical for companies trying to understand how AI is influencing corporate leadership trends and for those seeking insight into the backgrounds and characteristics of this emerging executive role.
To access insight into the people and strategies driving AI innovation from the top, read the full study here.
Methodology:
This study was completed using executive intelligence from two of Altrata’s solutions: BoardEx and Boardroom Insiders. The analysis focused on current Chief AI Officers around the world who are in a CAIO role or on their organization’s leadership team with a role title which includes the term “AI” or “artificial intelligence.” This report leveraged BoardEx‘s unique and proprietary Global Leadership Database, covering board and non-board members, C-suite executives, senior leaders and professional advisers. The database contains millions of profiles of public, private and not-for-profit organizations and the people who lead them. Boardroom Insiders‘ detailed executive profiles include the professional backgrounds, business priorities and strategic vision of VP and C-level executives of the Global 2000, the world’s 2000 largest companies.
About Altrata
Altrata provides the most essential intelligence and insight on business leaders, the global wealthy and well-connected. The leading commercial, philanthropic and educational institutions depend on Altrata solutions to meet their growth objectives. Clients partner with Altrata to confidently engage with exceptional individuals and organizations, create meaningful relationships and seize strategic opportunities.
Altrata’s global dataset contains millions of individual profiles on the wealthy, senior decision makers, board members and C-suite leaders. Altrata offers actionable, accurate and comprehensive data maintained by a global team of in-house researchers committed to surfacing the right insight at the right time to drive positive business outcomes. Altrata is a definitive leader in global wealth intelligence, professional relationship mapping and affluent market dynamics.
Altrata is a registered trademark of Delinian Limited and its affiliated companies, and is comprised of five industry-leading offerings: BoardEx, Boardroom Insiders, RelSci, WealthEngine and Wealth-X.
SOURCE Altrata Limited