How Good is Our Data?

Generative AI promises to significantly reshape how you manage your customer relationships, but it requires data that is accurate, updated, accessible, and complete. Why is this important? You may do something differently this quarter than you did last quarter, based on the latest data. But if your data is outdated or incorrect, that’s what the AI will use.

Thank you for reading this post, don't forget to subscribe!

Generative AI focuses on creating new and original content, chat responses, designs, synthetic content or even deepfakes. It’s particularly valuable in creative fields and for novel problem-solving, as it can autonomously generate many types of new outputs.

Generative Artificial Intelligence models often present inaccurate information as though it were correct. This is often caused by limited information in the system, biases in training data, and issues with the algorithm. These are commonly called ‘hallucinations‘ and they present a huge problem.

When training your models for generative AI, you should first ensure high information excellence from top to bottom. To get your information house in order, remove duplicates, outliers, errors, and other things that can negatively affect how you make decisions. Then connect your data sources — marketing, sales, service, commerce – into a single record, updated in real time, so the AI can make the best recommendations.

McKinsey recently wrote, “Companies that have not yet found ways to harmonize and provide ready access to their information will be unable to unlock much of generative AI’s potentially transformative power.”

Why is data important in generative AI?

Aside from the cost factor, poor information quality can introduce unnecessary and harmful noise into the generative AI systems and models, leading to misleading answers, nonsensical output, or overall lower efficacy.

What is high-quality data for AI?

High-quality information is essential for AI systems to deliver meaningful results. Data quality possesses several key attributes: Accuracy: High-quality information is free from errors and inaccuracies. Inaccurate information can mislead AI models and produce unreliable outputs.

Is AI 100 percent accurate?

Because AI will still rely on your data for decision making and accuracy depends on the quality of your information. AI machines must be well-programmed to make sure the machine is making decisions based on the correct, available information. Also, privacy and security of the data are paramount. AI machines need to access information that is encrypted and secure.

Understand that Generative AI is most effective at creating new data based on existing patterns and examples, with a focus on text and image data. Generative AI is most suitable for generating new data based on existing patterns and examples. It doesn’t actually think for itself. Yet.

Known Limitations Of Generative AI

Large language models (LLMs) are prone to “hallucinations” – generating fictitious information, presented as factual or accurate. This can include citations, publications, biographical information, and other information commonly used in research and academic papers.