As organisations strengthen their data foundations, the pivotal role of chief data officers (CDOs) in driving technology innovation is underscored in a new Deloitte report. This reveals that a staggering 70% of CDOs are actively rolling out artificial intelligence (AI) systems or engaging in proofs of concept to gauge their efficacy.
The report highlights that while AI's immediate impact is perceived to be limited, many CDOs believe its capabilities will soon catalyse significant organisational transformations. Central to leveraging AI effectively is a coherent data strategy, emphasised as essential by the majority of CDOs surveyed.
Deloitte underscores the necessity of a unified data direction. Without this, organisations risk falling into the trap of siloed activities and redundant efforts. By adopting a documented shared vision, CDOs can effectively communicate data's role in enhancing performance and underpinning long-term business goals.
Findings reveal a nuanced picture depending on organisational maturity. For those at high maturity, AI leads their priorities, with 67% focusing on AI development, while creating data products is also prominent at 56%. Conversely, for organisations at lower maturity, the priority centres around building data capabilities, emphasising data governance (63%), strategy (41%), and quality (33%).
Alarmingly, despite advancements, data strategy remains a steadfast priority, with roughly a third of CDOs considering it crucial for 2025. This perpetuates the necessity of treating data as a core strategic asset in digital transformation.
Richard Bovey, the Chief for Data at AND Digital, reflects on this pivotal shift in organisational focus towards data and AI. Bovey asserts that the discourse around AI has evolved significantly, highlighting the non-negotiable requirement of quality-managed data in AI's success. He stresses that without trusted data, even expertly crafted AI models falter.
According to Bovey, fragmented data remains a substantial barrier, with 64% of business leaders identifying it as their primary challenge in AI adoption. He concludes that a successful future lies with organisations viewing data as a product, advocating for increased data literacy and investing in AI systems that are governed and aligned with tangible business outcomes.
