DESAI
pact rage tion
WRITTEN BY : AMBER JACKSON
Here , he speaks on the importance of business professionals being able to harness the full potential of AI . He also discusses responsible AI and how other CIOs can ensure that they are enacting digital transformation efforts in a powerful and ethical way .
Q . IS AI THE NEW FRONTIER FOR CIOS ?
» The rise of AI tools like OpenAI , BARD along with the push for Artificial General Intelligence ( AGI ) has sparked enthusiasm in the industry , with experts projecting significant growth . UBS Global Wealth Management forecasts a 20 % annual growth rate , reaching a US $ 90bn market value by 2025 . However , I believe advancements in machine learning and generative AI may exceed expectations , leading to faster expansion .
CIOs not only remain the gatekeepers of an organisation ’ s technology infrastructure , but are also responsible for strategic planning , budgeting , implementing IT transformation initiatives , safeguarding data storage , and implementing robust cyber defences . And now , in 2023 , we ’ re blazing trails of innovation – turbocharging operational efficiency , and supercharging data-based decision-making processes .