GenAI is Excelling Business Processes Around the Globe

⇨ Informatic recently released the findings of its annual survey of global data leaders – CDO Insights 2024: Charting a Course to AI Readiness.

⇨ The report found that GenAI adoption is already well underway with 45 percent of data leaders reported they’ve already implemented GenAI.

⇨ An additional 53 percent who anticipate they will implement GenAI, including 36 percent who expect to within the next two years.

GenAI is taking over the world by storm and SAP users are leveraging this technology to elevate and enhance their business processes.

Enterprise cloud data management company, Informatica recently released the findings of its annual survey of global data leaders – CDO Insights 2024: Charting a Course to AI Readiness. The report, surveying 600 enterprise chief data officers and other data decision makers across the US, Europe and Asia-Pacific, provides insight into GenAI’s readiness, key technical and organization roadblocks to implementation and top data and data management priorities and strategies for 2024.

The report found that GenAI adoption is already well underway with 45 percent of data leaders reporting they’ve already implemented GenAI, with an additional 53 percent who anticipate they will, including 36 percent who expect to within the next two years.

Data quality continues to be a major hurdle to generative AI adoption with nearly all (99 percent) GenAI adopters have encountered roadblocks and 42 percent of data leaders cited data quality as the main obstacle, followed by data privacy and governance (40 percent) and AI ethics (38 percent).

Jitesh Ghai, chief product officer at Informatica, said: “Unsurprisingly, GenAI implementation and the data strategies needed to do so successfully continue to dominate bandwidth for most data leaders, regardless of region or vertical.”

“While there remains a myriad of technical and organizational hurdles that these leaders must navigate, it’s clear investments in holistic, highly integrated data management capabilities are the key to unlock the vast potential of GenAI and empower enterprises to take full control of their ever-expanding data estates.”

Chris Eldredge, VP, data office at Paycor said, “AI is only as good as the data that trains it, which means for us to be a successful AI and GenAI organization we must first be a successful data and data management organization – and that will remain a top focus for us in the months ahead.” Eldredge added that while many of Paycor’s priorities from 2023 have remained relatively unchanged, they cannot ignore the meteoric rise of GenAI. “We are seeing adoption of process-specific solutions across a variety of use cases and business areas. This will, ultimately, lead to an even greater need for consistent, aligned and accurate data across the entire enterprise.”

These findings emphasize the connection between GenAI adoption and data management strategies and the increased priority data leaders around the world have placed on both in the year ahead.