Did you know that directly involving your CEO in the AI implementation process can significantly boost your chances of success? In our survey, we found out that companies whose CEO was involved in the AI implementation discussions were more successful in implementing it than those who did not have CEO support. Some 23% of leaders said this was the case compared to only 12% of the laggards. Read on to learn more about why CEO involvement is critical to a successful AI implementation.
CEO-led initiatives are better at getting internal stakeholders to agree on the most important parameters (both business scope and technical specs). And CEO involvement typically increases the likelihood that key stakeholders are involved early and throughout system design and development.
C-level participation can help the initiatives to be successful. The higher up the organization, the louder voice and the push-back against change. The C-suite, the CEO in particular, must have strategic vision – whether pursuing new opportunities or to improving organizational efficiency. AI-infused products and services must align to that vision. And with it, there needs to be an understanding of the impact of change on the organization. This is even more critical with AI initiatives given the inherent risks.
The more you rely on the system to make and execute key decisions, the more your C-suite must be involved in system design (so that top management fully appreciates and reduces the risks of transferring tasks from people to machines).
The successful case studies we presented in the report had CEO participation, which confirms the theory:
- Expedia Group (page 19): Former CEO Peter Kern was asked on an earnings conference call what aspect of Expedia’s product roadmap he was most excited by. His answer: using AI to personalize advice at scale to hundreds of millions of customers. “It’s really machine learning and AI plumbed into essentially the entire product experience,” he told investors on the firm’s Q4 2023 investor call. “What that gets you is effectively a personalized experience for every customer. … Now that we can use that data to give them the best experience, we’re seeing some of our best wins now.”
- One United Bank (page 19): Chairman and CEO Kevin Cohee told The Ascent (a personal finance website operated by The Motley Fool) that consumers should always consult a financial professional to ensure that an AI-informed recommendation (such as timing for paying off a mortgage) is right for them.
- Medtronic (page 23): GI Genius Intelligent Endoscopy Module – the first FDA-approved AI-powered polyp detection device – has a “99.7% sensitivity rate with less than 1% false positives,” said Medtronic’s CEO & Chairman Geoff Martha in a recent LinkedIn article he published.
It’s clear that involving your CEO in the AI implementation process is not just beneficial, but essential for maximizing success. The insights from our survey, along with real-world case studies from leading companies like Expedia Group, One United Bank and Medtronic, underscore the critical role of CEO participation. By guiding strategic vision, aligning AI initiatives with organizational goals and ensuring strong stakeholder engagement, CEOs can drive more effective and impactful AI implementations. As AI continues to transform industries, having top-level leadership actively involved will be key to reaping the full benefits of this powerful technology.
Download the full study on AI-infused products here.
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