Race for the position of Chief AI Officer

- 76 percent of companies now have a Chief AI Officer, compared to 26 percent a year ago

Nancy Shepper, who spent 13 years at the advertising agency Ogilvy, spent approximately $28,000 to enroll in the “Chief AI Officer” program at the University of Chicago Booth School of Business, after returning to the workforce following several years away to raise her children. During the 10-month program, she developed a 65-page AI transformation strategy, inspired by her experience at her former employer, according to Bloomberg.

Shepper, 50, said she did not want to fall behind on the current wave of transformation that AI is reshaping across various sectors.

This surge in interest coincides with companies expanding the creation of this new role. A survey conducted by the IBM Institute for Business Value, which included 2,000 CEOs worldwide, showed that the proportion of companies with a Chief AI Officer rose to 76 percent, compared to just 26 percent a year ago. Participants also predicted that by 2030, AI would handle nearly half of all operational decisions without human intervention.

Universities have rushed to meet the growing demand for these skills. Duke University offers a six-month program for $25,000, while Carnegie Mellon University offers a seven-month program for Chief Data and AI Officers at a cost of $17,850.

Matt Cohen, Director of Program Strategy and Innovation at the University of Chicago, said that entrepreneurs, CEOs, and strategy managers have become among the most eager participants in these courses, seeking to gain a deeper understanding of AI.

He noted that while many companies have quickly hired leaders for AI programs and allocated budgets and senior management positions to them, they have not always achieved the desired results due to the lack of a clear business model justifying the required investments.

The University of Chicago program focuses on building a comprehensive understanding of AI, starting with strategy and organizational readiness, moving through data infrastructure, implementation, and scaling, and culminating in governance, cybersecurity, and leadership within senior management. The program is taught by executive experts from the technology, healthcare, and finance sectors, rather than traditional academics.