AI & Generative AI — Driven by Data Maturity — My View

Almost all the companies in the world are trying to experiment with AI to innovate new products or new ways of serving customer or Do something different. But they need to keep up with the change and also invest wisely. My observation so far is,

Although they start with these investments due to peer pressure, they fail to understand one thing, Data Rich companies should aim to become Data Aware and then Drive initiatives through Internal and External data that they have acquired/acquiring over a period of time.

What I meant Data Aware here is, Data Maturity with Appropriate Data Governance. This will allow them to have meaningful data to generate value , invest mindfully, and build a data driven culture across the organization.

One of the BCG report says One of the BCG report says “bcg.com/publications/2022/keys-to-scaling-d.." Data Maturity as the Key to growth driver.

The report breaks organizations out into “data champions” and “data laggards”. It finds that data champions report twice as much revenue growth as data laggards. Data champions are also more likely to have put AI at the core of business transformation efforts.

Each organization will be at different levels of data maturity. This needs appropriate assessment and the clear roadmap. Based on their maturity levels, carefully crafted plan is required to achieve appropriate maturity. This demands Qualitative and Quantitative data with appropriate structure in-place. To train AI (micro, small and Large ) models with Synthetic and real data, decent quality data is required to train it with facts. Otherwise, the outcome will be a garbage.

The responsible AI demands usage of data in a mature manner. As I mentioned earlier, appropriate Data governance (processes and Policies in-place) which drives Data Quality (accuracy, completeness, and timeliness of your data), helps you with Data Architecture (the way data is organized and stored) and the Data management (the processes and tools used to manage data) capabilities is the Key to achieve Data Maturity.

For the effective use of Generative AI in the business what is required is, leadership buy-in, strategic investments, quality data, training, and appropriate partnerships. The higher an organization’s data maturity, the stronger its AI capabilities and offerings.

Below is my earlier article on ChatGPT

Originally published at linkedin.com.