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Instead, CIOs must partner with CMOs and other business leaders to help quantify where gen AI can drive other strategic impacts especially those directly connected to the bottom line. Improving data quality and integrating new data sources to enrich customer and prospect data are vital for applying AI in marketing and sales.
Similarly, Deloittes 2024 CxO Survey highlights that while CDOs prioritize AI and business efficiency, sustainability remains a secondary focus. However, embedding ESG into an enterprise datastrategy doesnt have to start as a C-suite directive.
Data gathering and use pervades almost every business function these days — and it’s widely acknowledged that businesses with a clear strategy around data are best placed to succeed in competitive, challenging markets such as defence. What is a datastrategy? Why is a datastrategy important?
Similarly, data should be treated as a corporate asset with a dedicated long-term strategy that lets the organization store, manage, and utilize its data effectively. In an industry that is subject to stringent regulatory requirements, it is critical to use data to accurately scale up riskmanagement.
Here are five best practices to get the most business benefit from gen AI. Set your holistic gen AI strategy Defining a gen AI strategy should connect into a broader approach to AI, automation, and datamanagement. Define which strategic themes relate to your business model, processes, products, and services.
So, what are the common user cases we are seeing for enterprise data clouds? Protect: security needs including riskmanagement, fraud detection and cybersecurity initiatives through risk modelling and analysis, regulatory compliance, and financial crime prevention. . About the author: .
Otherwise, they are like a black box, where very little is known as to how they arrive at answers and responses and organizations can lose control of private data, GenAI pipelines can get compromised, or applications can be attacked in subtle ways by hackers.
Translating AI’s Potential into Measurable Business Impact It can’t be denied that a mature enterprise datastrategy generates better business outcomes in the form of revenue growth and cost savings. OCBC Bank ’s adoption of AI has effectively impacted revenue generation and better riskmanagement.
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