Navigating the EU AI Act: A comprehensive guide for businesses
Introduction The European Union (EU) AI Act is a landmark legislation aimed at regulating the
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To harness the power of generative AI, first, your business needs an AI strategy, roadmap and policy. Hire a Fractional Chief AI Officer to work with your team to craft a plan around your needs. Your AI strategy, roadmap and policy will consider:
We will support your team members to implement your AI roadmap. We will start with use case analysis and prioritisation. Then we will support your team to build and launch your first proof-of-concept (PoC), before finally scaling AI adoption across your business. We provide expert guidance, while your team provides day-to-day resources.
It is core to our beliefs that you need internal AI capability, and as your fractional AI Officer, we will take part responsibility for building it. Hiring a full-time Chief AI Officer can prove very expensive and often candidates are extremely technical but lack the experience of deploying solutions on the ground. Assigning your CTO with AI accountability can also lead to poor outcomes, as skills gaps sometimes exist and it’s important not to distract them from their other priorities.
At Fifty One Degrees we will build capability across your organisation, from the board through to every team member who uses your AI solutions.
Reporting to your board, executive committee and senior leadership team, we will support your business with strategic decisions. The recent advancements in AI technology might be the catalyst for significant changes to your business strategy, in turn unlocking significant efficiencies and customer experience advantages. We provide expert and up-to-date AI knowledge so you can apply these technologies to create competitive advantages.
We will create a Chief AI Officer-as-a-service solution that meets your needs. We recommend that you engage Fifty One Degrees for between two days and five per month for the Fractional CAIO role and if you periodically need more of our support, we can consider a separate engagement for specific initiatives.
We will engage our resources to give your business what it needs, when it needs it. For example, a Fifty One Degrees Partner will attend your senior leadership meetings, whereas one of our engineers will be on hand with detailed technical knowledge.
Our team will be permanently available to support you as we move through your AI adoption process. The amount of Fractional CAIO advice you’ll need is not always predictable or linear, so we’ll be available through the peaks and troughs.
A Fractional AI Officer comes at a fraction of the cost, dramatically reducing the investment required and fixing the cost, while still giving your business the expertise it needs.
Fifty One Degrees was founded by Nick Harding and Mark Somers. Prior to Fifty One Degrees, Nick built a technology-enabled FinTech called Fluro which he launched in 2012 and grew to process over 4 million customers each year by pioneering data-led customer experience innovations.
Whereas Mark co-founded 4most, the UK’s largest independent credit risk and analytics consultancy in 2011. During his tenure, Mark expanded 4most to more than 200 consultants spanning three global territories. Mark completed a PhD in Astro Physics before his career in financial analytics.
We’ve been in your shoes. We understand the complexities behind building a meaningful business. At Fifty One Degrees, we apply those experiences to make your business more productive, more efficient and serve its customers better.
A fractional chief AI officer (CAIO) provides the same level of expertise and strategic guidance as a full-time CAIO but operates on a part-time basis. This role is designed to be flexible, offering services a few days each month to align with the specific needs of an organisation, enabling them to leverage AI capabilities effectively without the overhead of a full-time executive.
A fractional CAIO is responsible for leading the development and execution of an AI strategy, enhancing internal AI capabilities, assisting in analysing potential use cases, and steering the deployment of AI projects within an organisation. This role serves as a key strategic advisor, helping to integrate AI into business processes and decision-making frameworks effectively.
Hiring a fractional AI officer is beneficial for companies looking to integrate AI into their operations without the commitment of a full-time position. This option provides significant cost savings while granting access to specialised expertise and strategic oversight on AI matters, making it an ideal solution for businesses at various stages of AI adoption.
The primary benefits of employing a part-time AI officer include financial savings compared to hiring a full-time executive, flexible engagement models tailored to business needs, and the ability to draw on extensive AI knowledge and strategic insights without a long-term commitment. This flexibility allows businesses to adapt quickly to changes in technology and market conditions.
To recruit a fractional AI officer, it is recommended to partner with a consultancy that specialises in AI services, such as Fifty One Degrees. These firms can help define the scope of the role based on your specific business requirements and you get the right type of support for each step in your journey to adopt AI, starting with strategy, and progressing through to implementation.
The responsibility for AI adoption should be assigned to an individual with the capacity to oversee both the strategic and ethical aspects of AI integration within your company. A fractional AI officer, with their specialised knowledge and strategic focus, is well-suited to guide your business through the complexities of AI implementation.
While a CTO may have the technical expertise necessary for overseeing AI, assigning them full responsibility for AI initiatives can lead to a dilution of focus from their primary responsibilities and potential gaps in specialised AI knowledge. A dedicated AI leader, such as a fractional CAIO, is often better positioned to handle such specialised and strategic roles effectively.
Introduction The European Union (EU) AI Act is a landmark legislation aimed at regulating the
The rise of generative AI (GenAI) technologies has the potential to significantly disrupt and transform