Faisal Husain at Synechron describes the benefits that AI can bring to leadership roles but argues that it will never replace human capabilities 

Since the release of Open AI’s ChatGPT, the interest in artificial intelligence (AI) and, specifically, generative AI (GenAI), has been overwhelming. With GenAI capabilities continuing to grow, augmenting human capabilities and providing real-world solutions for business, the potential for enhanced efficiencies in this area is huge. 

But, with the progression of this new technology, roles will change – and at all levels. So, how will AI change the role of CEO? 

High-level executive summaries 

Institutions and executives are already using GPT models to analyse official statements and speeches produced by central banks. This high-level insight is invaluable to CEOs and executives. 

In a paper entitled Can ChatGPT Decipher Fedspeak? by Anne Lundgaard Hansen and Sophia Kazinnik, researchers evaluating the ability of GPT models to classify Federal Open Market Committee announcements as either ‘dovish’ or ‘hawkish’, found these AI algorithms were superior to other methods and demonstrated reasoning abilities on a par with humans. This ensures CEOs and decision-makers are considerably better briefed to make sound business decisions. 

Reducing uncertainty and predicting growth 

We are getting to a point where AI can help CEOs make predictions that increase profit and growth. AI-powered tools can assist CEOs in strategic planning and forecasting by analysing vast amounts of data to identify patterns, anticipate market shifts and simulate various business scenarios.