Three roles CEOs need to play to drive Generative AI success

CEOs juggle multiple roles daily: negotiator, investor, caregiver, and above all, champion of important projects. As the AI revolution unfolds, CEO responsibilities are evolving. Today, they must embrace technology like never before to stay competitive and grow their businesses. The rapid growth of AI adds further pressure for every business leader to stay ahead in the tech landscape.

Deloitte’s Global CEO Programme and AI Institute have recently released a report highlighting the three key roles CEOs must play to successfully implement and grow their organisations with Generative AI. In short, it’s essential to secure computer power, select the right AI ecosystem and establish AI centres of excellence.

Read more about how CEOs can set the right visions for Generative AI.

Power up

As Generative AI continues to grow, quick model training and execution are becoming crucial. Traditional CPUs process data one step at a time, but specialised AI chips can handle vast amounts of data all at once.

While some needs might be met by niche cloud providers, visionary CEOs aiming for a competitive edge should look for more powerful computing options. That’s why it’s important to engage in negotiations with hardware companies to secure the right resources.

CEOs need to ensure that hardware purchases align with their business goals. This means working closely with their CIO and CTO. Emerging technologies like advancing your organisation’s CPUs also present new opportunities. By staying updated with tech trends, you’re able to make informed decisions about future-proofing your organisation’s overall infrastructure and stay ahead of competitors.

Pick the right tools

Every organisation’s data is a goldmine. This untapped resource can be vital for developing AI products. By securing or anonymising data, CEOs can safely use it to build new models without facing regulatory challenges.

The power of Generative AI lies in the data it uses. This can be tricky for booth CEO and CTOs because most Large Language Models (LLMs) aren’t customised for specific fields or industries. Private LLMs, however, offer better options, costs, and control while keeping your intellectual property safe. To reap these benefits, companies need to select the right LLMs and AI ecosystems that fit their needs.

CEOs can stay ahead of their company’s AI ambitions, whether that’s pioneering custom LLMs or purchasing them later. If they also act as venture capitalists, they’ll understand the market, build strong relationships, and make smart investment choices.

Build AI excellence

It’s common for employees to fear AI transformation. They may be curious about future jobs and if their skills will fit their needs. In order to address this, CEOs should promote a culture of AI fluency and innovation, emphasising that AI is meant to enhance human abilities, not replace them.

One method for this is to create AI Centres of Excellence (COEs). These hubs drive innovation and help organisations deploy AI solutions at scale. They bring AI experts and stakeholders together for a unified approach to using Generative AI, focusing on governance and ethics.

CEOs champion COEs by ensuring hardware, data, and governance are well funded. Doing this, they must also rally support from all stakeholders. Working with legal and risk officers, CEOs prepare everyone for changes. COEs as collaboration hubs can help CEOs lead the Generative AI revolution.

Dive into the full report about the three roles CEOs must play to scale Gen AI here.