The demand for reliable data has long been emphasized due to the ongoing need for real-time personalization and increased business efficiencies. Generative AI is amplifying these requirements, prompting analytics and IT leaders to strengthen their data foundations. AI Drives Demand for Trusted Data and we are on the frontlines. A significant majority (86%) of analytics and IT leaders acknowledge that the effectiveness of AI outputs is contingent on the quality of data inputs.
On a positive note, technical leaders express optimism about their current standing. More than one-third of analytics and IT leaders categorize their data maturity as best-in-class, considering factors such as data capabilities, processes, sponsorship, investment, and vision. However, only a small fraction (6%) describe their data maturity as below industry standard or nonexistent. This might indicate the challenge of benchmarking maturity against peers or, at worst, an overestimation of confidence in data strategy and capabilities.
Despite generally favorable self-assessments by IT and analytics leaders, a significant majority of business leaders (94%) believe there is untapped potential in deriving more value from their data, signaling the need for improvement. To address this, analytics and IT leaders are prioritizing fundamental aspects such as data quality, enhanced security, and readiness for AI adoption. However, the path to achieving these goals is perceived as challenging.
Generative AI represents a substantial leap beyond established technologies like predictive AI, and business leaders are enthusiastic about its potential. A vast majority (91%) consider generative AI to offer significant advantages, with compelling use-cases ranging from content creation to software development. Despite its relative novelty, generative AI is advancing rapidly, and more than three-quarters of business leaders express concerns about missing out on its benefits. In particular, marketing leaders are apprehensive that their companies are falling behind in fully harnessing generative AI in workflows, with 88% sharing this concern.
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