Key Takeaways:
• Top D&A leaders convened at the Gartner Data and Analytics Summit 2024 in Orlando, FL.
• The summit highlighted challenges like lack of talent, misuse of data, and high cost of D&A projects.
• By 2027, failure in AI value realization could rise up to 60% due to weak ethical governance.
• GenAI adoption may slow down due to risks linked to IP loss and copyright infringement.
• Gartner forecasts that 75% of new analytics content will be tailored for GenAI by 2027.
The Gartner Data and Analytics Summit 2024 recently concluded its latest summit in Orlando, FL, drawing a global audience of top chief data analytics officers (CDAOs) and data and analytics (D&A) leaders. This event focuses on leveraging the power of data and technology to drive value and business innovation.
Harnessing Complexity: AI, Data, and Analytics
Gartner Distinguished VP Analysts Debra Logan and Ehtisham Zaidi opened the summit with a keynote that underscored the necessity for AI-human intelligence synergies. They underlined it as a viable option for organizations seeking to accomplish their goals despite growing complexities in the digital world.
Challenges Facing D&A Leaders
However, D&A leaders face significant challenges, notably talent sourcing, lack of data-driven innovation, incorrect data use for decision-making, and the high total cost of ownership for D&A projects.
Predicting Future Concerns, Challenges
Distinguished VP Analyst at Gartner, Rita Sallam, revealed her prediction that, by 2027, 60% of organizations might fail to realize the expected value of their AI applications due to poor ethical governance frameworks.
Furthermore, CDAOs and D&A leaders need to evolve into drivers of business innovation. Without reinventing their roles to fit into this new paradigm, they risk becoming irrelevant.
Understanding Governance and Value
Sallam argued that CDAOs successfully translating the impact of D&A governance into stakeholder value increases their strategic involvement across an organization.
She also drew attention to the potential slowdown of GenAI adoption due to two critical factors: the threat of intellectual property loss and copyright infringement, and abandonment issues with large language models (LLMs).
Predicting GenAI’s Future
Joining Sallam in discussing GenAI’s potential future challenges, Gartner’s VP Analyst Gareth Herschel shed light on trends addressing common issues and strategic responses. He emphasized the need for organizations to foster a different mindset to grasp complexity, safeguard innovation time, and deepen AI-enabled system understanding.
Executive leaders can surmount these common challenges by initiating a dedicated change team, crafting data-driven change narratives, and introducing adoption barrier solutions, as recommended by Gartner’s Senior Director Analyst Sarah James.
Scaling GenAI Across an Organization
Arun Chandrasekaran, Distinguished VP Analyst at Gartner, suggested that organizations should ensure robust data engineering and use pilot cases for scalability to integrate AI models with data effectively. He also appealed to businesses to clarify AI agents’ outputs and promote responsible use, facilitating a seamless merging of human effort and machine capability.
The Gartner Data and Analytics Summit 2024 successfully explored some of the most urgent issues in the D&A and AI markets and offered problem-solving strategies through data management, data architecture, and governance best practices.
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