CDO Insights 2024:Charting a Courseto AI Readiness

CDO Insights 2024: Charting a Course to AI Readiness

As generative artificial intelligence (AI) becomes more powerful-and businesses struggle to keep pace-the race to implement the technology is heating up: more than two in five data leaders (45%) work at companies that have already integrated generative AI into their business processes, and 54% expect to implement this tech. But this valuable tool is only as good as the quality of the data available. Among data leaders implementing or planning to implement generative AI, the quality of data (42%) is the top data-related obstacle to the adoption of generative AI and large language models (LLMs) reveals a survey of 600 data leaders from companies with $500M+ in revenue from the U.S., EU, and APAC regions conducted by Wakefield Research on behalf of Informatica.
 
To address this, data leaders are making data investments to overcome AI roadblocks. Not only do 78% of data  leaders predict their organization-s level of investments will increase in 2024-including 33% who predict  significant increases-but 100% of data leaders specifically plan to invest in data management capabilities  to support their data strategy priorities. This can be a double-edged sword: among those predicting data  management investment, 58% expect to use five or more tools for this crucial part of their work-tools that 49%  have half or fewer available as cloud-hosted services. And data sources are expanding as well: 41% admit they-re  juggling 1,000 or more data sources-a number 79% expect to increase in 2024.

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