- Companies that say they find value out of their artificial intelligence projects more often have CEOs leading those initiatives than CIOs, according to a study from Boston Consulting Group and MIT Sloan Management Review published Tuesday.
- Among companies who put CEOs at the helm of AI, 34% say they've found the business value in AI implementation, whereas only 17% of CIOs who are in charge of AI say the tech paid off. The discrepancy doesn't signal CIOs' shortcomings but rather a higher success rate in companies that see AI as part of an overall business strategy.
- Seven out of 10 companies report having minimal or no impact from deployed AI capabilities, according to the study. Less than two out of five companies report any business gains from AI in the past three years.
But when it comes to AI adoption, the scope of the potential impact to the daily flow of a business could mean it's ideally something for the CEO to lead, right alongside the main business strategies. CIOs and their teams should play the role of critical players and partners in AI implementation.
Authors of the study say the discrepancy shouldn't be taken to mean that CIOs "are worse at leading AI initiatives than other leaders," but rather, that AI requires a broader lens.
"With the exception of a few business processes, most need to change dramatically to take advantage of AI benefits," said Shervin Khodabandeh, managing director and senior partner at Boston Consulting Group, in an interview with CIO Dive.
AI is expected to reshape business processes across a bevy of industries. Gartner said in its 2019 Hype Cycle report it expects AI to redefine not just how companies operate, but even what products and services they offer. With so many process changes required, CIOs alone may find challenges in getting enough engagement from business units.