Most companies are sitting on a gold mine of data — insights on operational activity, client behavior, market performance, employee productivity and much more. But having a lot of data isn't the same as having useful information and intelligence to support critical decision making. Many companies fall short of using their data to its maximum potential, a stark reality confirmed by our 2023 Innovation Index.
Driving actionable insights and empowering rapid end-to-end process automation and intelligence — in particular GenAI — across your organization is dependent on trusted and accessible information. Organizations who commit to powering decisions and automation by a single source of truth, will be well positioned to operate efficiently, innovate boldly and gain a clear competitive advantage.
The value of being data-driven:
- Make quick, confident decisions across the organization.
- Create operational efficiencies while reducing errors and costs.
- Harness the possibilities of unbiased, generative AI.
Build a data foundation to unleash the power of data
Organizations need trusted information to better navigate uncertainty, improve operational performance and enable valuable experiences for customers, employees, and partners. However, before you can power your organization’s value chain using analytics, automation and artificial intelligence a solid data foundation needs to be built by:
- Accelerating business insights for decision making by ensuring that data can be analyzed at all points of the enterprise to enable data-centric decisions
- Syndicating data throughout the enterprise by harnessing the latest modern data management technologies to drive value
- Leveraging governance to enable data confidence, making sure all corners of the organization trust the data that’s accessible and available
- Optimizing actions with a human-machine partnership that balances human and technology resources to create enterprise efficiencies and reduce errors and costs
- Achieving data excellence through culture and operations by prioritizing data assets so teams can understand and harness the value of that data to drive culture change
Understand the data-AI connection before you invest
Having trusted and accessible information across your organization provides the necessary foundation for moving up the analytics and AI maturity curve – what we call the Enterprise AI Continuum. Artificial Intelligence includes many things from automation to machine learning to large language models. Understanding the capabilities and optimal uses of each can help organizations pursue specific business goals more effectively and optimize return on technology investment.
How can leaders zero in on the right AI investments for their organizations?
Hear from Wendy Collins, chief AI officer, on how to identify AI investments that can deliver real business value to your organization.
Simplify AI Complexity to Generate Value
Organizations want to jump right into AI. But artificial intelligence initiatives can be challenging given the market hype about GenAI and the speed of technology innovation. The stakes are high, and the pressure is on to launch and/or accelerate AI initiatives that generate value. The key is simplifying AI’s complexity by focusing on three fundamental success factors:
- AI strategy. Align your AI strategy with your business strategy. If you are talking to investors or shareholders about increasing profitability or white space business model opportunities, then that's what your AI strategy needs to focus on as well.
- Business use-cases. Focus on identifying high-value business use cases and creating accelerated pathways for moving from POCs to real-world solutions that increase measurable value.
- Data is the foundation. Make data strategy the bedrock of your AI initiative. Because without a coherent data foundation in place, you won’t be able to bring even your highest-value use cases to fruition.
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