REDWOOD CITY, Calif., January 31, 2024 — Informaticathe leader in enterprise cloud data management, announced the results of its annual survey of global data leaders. CDO Insights 2024: Charting a path to AI readiness.
This report surveyed 600 corporate chief data officers and other data decision makers in the US, Europe, and Asia Pacific to find out about their readiness for generative AI, key technical and organizational barriers to implementation, and data and provides insights into data management priorities and strategies. 2024.
“Unsurprisingly, the implementation of generative AI and the data strategy required to make it successful continues to dominate the bandwidth of most data leaders, regardless of region or industry.” Informatica’s Best Products says Jitesh Ghai, director. “While there are still countless technical and organizational hurdles for these leaders to overcome, investing in comprehensive, highly integrated data management capabilities can unlock the tremendous potential of GenAI and help companies scale. It is clear that this is the key to gaining complete control over your data assets. ”
Chris Eldridge, Vice President of Paycor’s Data Office, said: “AI is only as good as the data on which it is trained. In other words, to be successful as an AI and generative AI organization, you must first be successful as a data and data management organization. Eldridge added that while many of Paycor’s priorities for 2023 and beyond remain relatively unchanged, the meteoric rise of generative AI cannot be ignored. . “We see process-specific solutions being adopted across a variety of use cases and business areas. This ultimately drives the need for consistent, coordinated, and accurate data across the enterprise. It will increase further.”
Main findings
- Generative AI adoption is already underway
- Almost half (45%) of data leaders report that they have already adopted generative AI, and a further 53% expect to do so, with 36% of those expecting to do so within the next two years
- Data quality continues to be a major barrier to generative AI adoption
- Almost all (99%) generative AI adopters face obstacles
- 42% of data leaders cite data quality as their main barrier, followed by data privacy and governance (40%) and AI ethics (38%).
- Implementing generative AI has its challenges, but it’s worth the squeeze
- 73% of data leaders use or plan to use technology that reduces time to value through faster data insights, and 66% want to increase productivity through automation and scale.
- When it comes to the ROI of your AI and data strategy, data preparation is a top priority
- 43% of data leaders reported that improving the readiness of data for AI and analytics is the most common metric for measuring the effectiveness of their data strategy. This is a change from his 2023 findings (45%), which showed improving how data is used in business decision-making was the top metric. )
- Data fragmentation and complexity persist and are expected to worsen in 2024
- 41% of data leaders struggle to balance more than 1,000 data sources, down from last year (55%), but 79% expect this number to increase over the next year
- 58% of data leaders say they will need five or more data management tools to support their priorities and manage their data assets, up from 2023 (50%).
- 39% of data leaders report that the growth in the number of data users is the biggest technical barrier to realizing their data strategy, and 38% say the growth in the amount and variety of data is did. The main obstacle last year was the lack of complete visibility and understanding of data assets (in 2024 he will be the 4th highest obstacle)
- Resistance within your organization can also derail your data strategy and priorities.
- 98% of data leaders believe that organizational barriers to data management include lack of leadership support (45%), inability to justify ROI against budget (45%), and lack of collaboration/coordination between business units (44%). I admit that it’s hindering my strategy.
- Investment in generative AI drives mutual investment in data management
- Data leaders rank the ability to provide reliable, consistent data suitable for generative AI (39%) and improving a data-driven culture and data literacy (39%) as top priorities for their 2024 data strategy. ) are listed. Improving the governance of data and data processes is his top priority for data strategy (his third highest priority in 2024), and the ability to provide data suitable for analytics and AI is his seventh priority. It was expensive.
- Data privacy and protection (45%), data quality and observability (41%), and data integration and engineering (37%) remain the top data management investments you should make to support these priorities. It’s a function.
These findings demonstrate that there is an essential link between the adoption of generative AI and a sound data management strategy, and that data leaders around the world are increasing the priority of both strategies in the year ahead. I’m emphasizing. The new era of AI promises many possibilities, but it also presents complexities for enterprises and data leaders, from managing a disparate and evolving data ecosystem to the myriad data and organizational hurdles to implementation. is guaranteed to increase. The report states: “AI and data management enable data leaders to recognize that the two work together, rather than one driving the other. ‘s strategy, and represents a major change in the future of their organization. ”
For more insight on how to plan for future success with AI, download the report here: https://www.informatica.com/lp/cdo-insights-2024-charting-a-course- to-ai-readiness_4656.html
About Informatica
Informatica (NYSE: INFA), the leader in enterprise cloud data management, brings data and AI to life by enabling enterprises to realize the transformative power of their most important assets. We created a new category of software called Informatica Intelligent Data Management Cloud (IDMC). IDMC is an end-to-end data management platform powered by CLAIRE AI that connects, manages, and unifies data across virtually any multicloud or hybrid system, democratizing data and helping enterprises modernize their business strategies and move forward. I will make it possible. Customers in more than 100 countries, including 85 of the Fortune 100, rely on Informatica to drive data-driven digital transformation. Informatica. Where data and AI come to life.
Source: Informatica
