Private Sector Drives 63 Percent of Chief AI Officer Appointments as AI Influences Corporate Talent Strategy

A new Altrata study examines the background and characteristics of this emerging executive position.

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.

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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.

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• 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 share your insights with us, please write to sghosh@martechseries.com]