Why Businesses Need Leaders Who Understand AI

As a leader, having confidence in your strategic decision-making skills can drive your organization’s success. By incorporating technology like artificial intelligence (AI) into your toolkit, you’ll be able to leverage everything from predicting trends to lightning-fast data analysis. And starting AI implementation now will get you ahead—the global AI market is expected to grow at a compound annual rate of nearly 36% from 2025 to 2030 and become a $1.01 trillion market by 2031. Business leaders who understand AI are well-equipped to implement strategies using these systems. They adapt as technology changes and are able to lead companies into the future.  Businesses that embrace AI gain a competitive advantage. Having historical knowledge of the technology, plus the ability to leverage the latest tools in an ethical and responsible way, is key for the next generation of business leaders. To help you advance in your career as an AI leader, the Wake Forest University School of Professional Studies (SPS) is offering an online Master of AI Strategy and Innovation program starting in the fall 2025 semester. Let’s take a look at how using AI in leadership can benefit your career.

Why Is AI Implementation Important for Business Success?

AI in leadership is transforming innovation and supporting data-based decision-making, allowing companies to stay at the top of the market. Further, AI can enhance leadership by offering streamlined operations of routine tasks, which allows for focus on strategy.  AI is changing the way businesses run. As such, its use is becoming a top priority for leaders, with 82% of executives having deployed or planning to deploy generative AI, according to an IBM survey of European executives. What’s more, a solid understanding of AI implementation and the impact it can have on the success of a business can increase your potential in the job market. According to a General Assembly study, 63% of hiring leaders say it’s more challenging to source candidates with AI skills than applicants for other tech roles. 

The Importance of AI Business Strategy

Integrating AI into the way businesses are run is essential for keeping your company agile.  Through the Wake Forest SPS master’s in AI strategy and innovation program, you’ll learn how to develop and apply AI business strategies, such as:

• Strategic leadership in AI: Learn to develop AI strategies and support change management.
• Emerging tools and technologies in AI: Track the continuous iterations of AI and learn to optimize model outputs.
• AI implementation across industries: Work with real-world examples to understand successful AI integration.
• Ethics and AI: Study diverse ethical issues that may arise from the use of AI and learn responsible AI practices to mitigate bias.

>>Read More: Five Things to Know About the New Online Master of AI Strategy and Innovation Program

AI Leadership Can Foster Well-Rounded Teams

But business efficiency isn’t the only reason to leverage AI technology. It can also help companies become more well-rounded. AI and leadership development can go hand-in-hand, as these systems can be used to support learning and even provide real-time feedback to help foster talent. Managers can support employees using AI through personalized education. Using a data-driven approach, training can be tailored to an employee’s learning style and adjusted for work history and individual proficiency, according to the Harvard Business Review. Companies can benefit from ensuring that while AI technology helps teams grow, the human aspect is not lost.

Why Ethical AI Practices Matter for Business Leaders

There’s more to consider than just the technical side of AI implementation. It’s also crucial that business leaders are knowledgeable when it comes to responsible AI practices. This helps ensure AI systems align with the overall business strategy — as well as company ethics and policies — given the numerous social, political, and economic impacts of AI. Creating a plan around ethical AI usage is important because it helps weed out bias and can make your company more trustworthy. And recognizing that biases exist within data is just one facet of AI in leadership. For example, Microsoft’s AI systems are built according to six principles: 

• Fairness
• Reliability and safety 
• Privacy and security
• Inclusiveness
• Transparency
• Accountability

Being equipped to create a strategic plan that accounts for diverse organizational contexts is important in helping eliminate bias. To support this, the Master of AI Strategy and Innovation courses address the critical need for responsible AI development and deployment, following the Wake Forest motto of Pro Humanitate.

Become an AI Leader

Start or advance your career in the field with the Master of AI Innovation and Strategy program from Wake Forest University’s School of Professional Studies. You’ll explore topics like the overview and historical progression of AI, best practices for building AI systems in real-world applications, and how to leverage the latest tools and methodologies in the field.

Learn more about the online Master of AI Strategy and Innovation program from Wake Forest University’s School of Professional Studies. Connect with us to get started.