What challenges do you see for data in the year ahead that will have an impact on your clients and on the industry as a whole?
One of the biggest challenges this year will be tempering the excitement and potential of generative AI (genAI). Unfortunately, by February 2024, we had seen many unintended or malicious uses of genAI, which have led further calls for legislation and regulation. However, traditional AI is still something many companies have not been able to master yet to reap rewards in productivity and business outcomes. In all my conversations with fellow data leaders, many organisations are still trying to get the data foundations right – taxonomy, reporting, and basic analytics. While we have seen the addition of the Chief Data Officer role as a critical one over the past decade, the role and remit still varies by industry and organisation. Clean and trusted data is something everyone in an organisation is responsible for, but we are still working on building that muscle memory across all employees. As a result, while the CDO may bring a strategy and executional plan for ensuring clean and trusted data, as well as data driven results, they are dependent on a variety of stakeholders to be successful. So, this year, CDO’s will be balancing building solid data taxonomy and data foundations, while at the same time creating the genAI principles, frameworks, and pilots for their organisations.