André Vieira Gomes, Chief Data Officer at Banco Sofisa in Brazil, explains how the advent of generative AI is changing the role of the CDO and what he expects for the future in this exclusive interview in advance of CDAO FSI Brazil:
C: How do you see the role of the CDO evolving with the advent of generative artificial intelligence and what are the most significant changes you've observed?
AVG: Over the last several years, the role of the Chief Data Officer has evolved beyond just focusing on data and strategic statistical models. Now, the role encompasses responsibility for company-wide innovation, especially in light of new technologies like AI.
This technology in particular is a complete game-changer in how we approach innovation.
The CDO's responsibility now extends beyond just digitalization or product development. It's about leveraging AI to revolutionize our approach. We're in a completely new era of data management and application.
CDOs need to work closely with CEOs, as AI and technology are rapidly changing. CDOs must be more involved in strategic decisions and aware of AI's impact across different sectors. Their role is essential in guiding the company through these technological advancements. This ability to 'connect the dots' is becoming a crucial skill for CDOs.
C: What are some key challenges and opportunities that generative AI presents for CDOs?
AVG: With new power comes new responsibility. Communication skills are vital, as CDOs need to articulate the potential of AI to other C-level executives.
My approach to decision-making starts with identifying the business problem, which helps focus on what truly matters. Also, managing many suppliers in the AI space is a challenge due to the novelty of the technology.
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C: How should CDOs prepare for future developments in generative AI?
AVG: Staying updated through partnerships and participating in forums and meetings is key. Those who don't stay informed about new technologies will face greater challenges. CDOs need to be proactive in learning and applying these advancements.
The role of the CDO is becoming more focused on driving innovation. It involves spreading a data-driven culture throughout the organization and getting leaders on board with how AI can enhance results.
The CDO is responsible for transitioning the company to an AI-driven model and should be involved in top-level decision-making, especially regarding AI applications.
C: What ethical considerations should CDOs keep in mind when implementing generative AI solutions?
AVG: Ethical considerations are crucial, especially as AI becomes more prevalent. We need to be vigilant about issues like political impacts and misinformation.
My suggestion is to work closely with ESG teams and stay informed about ethical challenges faced by others in the industry. It's essential to view AI as a tool to assist us, rather than replace human roles.
André Vieira Gomes is speaking about the future of the CDO role at CDAO FS&I Brazil on the 27th and 28th of February -- register to attend here
