It has become abundantly clear by now. Successful business adoption of Big Data and analytics initiatives is largely a function of overcoming cultural impediments. These "cultural" factors have been the principal barrier to deriving value from data and analytics investments for most large firms. Among the principal impediments these firms have faced are challenges of organizational alignment, communication between business and technical constituencies, transformation of key business processes, governance and leadership of data initiatives, business sponsorship and assurance that technical investments can be linked to measureable business outcomes. For the most part, the barriers to success for Big Data initiatives are not about technology – they are due to business issues.
Conducted by Corinium and sponsored by FICO, the report – Building AI-Driven Enterprises in a Disrupted Environment – surveyed more than 100 c-level analytic and data executives and conducted in-depth interviews to understand how organizations are developing and deploying AI capabilities. The study found that the uncertainties caused by the pandemic have forced many organizations to adopt a more committed, disciplined approach to becoming an AI-driven enterprise, with more than half (57 percent) of the chief data and analytics officers saying that COVID-19 has increased demand for AI, digital products and tools. Enterprises are seeking new AI-driven ways to mitigate risks and navigate through uncharted territories in the current economic environment. The report reveals the central role AI has in shaping the future as global markets work through and begin to recover from COVID-19; as well as how to mitigate future risk and disruption going forward. Most data-driven enterprises are now aggressively investing in their AI capabilities, in fact 63 percent of respondents have started scaling AI capacity within their organization. However, enterprise chief data and chief analytics officers are facing a wide range of challenges as they increasingly look to grow AI. 93 percent say ethical considerations represent a barrier to AI adoption.
"CDO Europe was a symposium of kindred spirits, with a good spread of industries represented and abundance of experienced practitioners. The agenda has been impeccably researched organised and managed by the Corinium team, and I have particularly enjoyed the discussion group format, which, in my opinion, produced some fascinating insights in how many ways the data challenge is tackled". Coming to Mainland Europe for the first time, this year's Chief Data and Analytics Officer Week will explore how you as a data and analytics leader can deliver on insight-led decision-making and drive innovation within your business. Leveraging Corinium's global network and research, we are looking forward to delivering the latest from our speakers and partners in Amsterdam. With our uniquely interactive conference format, you are guaranteed to network, brainstorm and bounce ideas with speakers and delegates alike, taking back insights that will feed into real strategies for 2018.
The XTRD team will take part in AI & Emerging Tech for Finance conference that will be held by Corinium on November 12–13 2019, in Convene at 101 Greenwich, New York City. The theme of the conference is "Embracing the Machines: The Future of Emerging Technologies for Finance". Participating in this event will allow the XTRD team to meet senior leaders and decision-makers from industry leading organizations, and broaden our professional networking in general. Corinium is the world's largest community designed to inspire and support the emerging C-Suite executives focused on Data, Analytics, Customer and Digital Innovation. They produce industry leading conferences like Chief Data & Analytics Officer Fall, Chief Data & Analytics Officer Spring, Chief Data & Analytics Officer Finance and others.
As many as 57% of chief data and analytics officers have said that Covid-19 has increased demand for AI, digital products and tools in enterprise. The findings were published in the report Building AI-driven enterprises in a disrupted environment, by global analytics software firm FICO and market intelligence firm Corinium. Together they surveyed more than 100 C-level analytic and data executives. The study found that uncertainties caused by the pandemic have forced many organisations to adopt a more committed, disciplined approach to becoming an AI-driven enterprise. In addition to rates of take-up, the survey also questioned respondents on ethical and responsible AI, and competitive advantages AI could generate post-Covid.