{"id":8070,"date":"2024-02-28T14:52:21","date_gmt":"2024-02-28T13:52:21","guid":{"rendered":"https:\/\/www.gpsj.co.uk\/?p=8070"},"modified":"2024-02-28T14:52:39","modified_gmt":"2024-02-28T13:52:39","slug":"enterprises-lack-of-strong-data-foundation-hinders-wide-scale-genai-adoption","status":"publish","type":"post","link":"https:\/\/www.gpsj.co.uk\/?p=8070","title":{"rendered":"Enterprises\u2019 Lack of Strong Data Foundation Hinders Wide-Scale GenAI Adoption"},"content":{"rendered":"\n

Syniti and HFS Research report shares insights on how to increase data quality and reliability to help unleash full potential of GenAI<\/em><\/p>\n\n\n\n

Syniti,<\/a> a global leader in enterprise data management, today announced the results of a study developed with HFS Research<\/a> to help organisations understand the value they can derive from their generative AI (GenAI) investments. The paper, titled \u201cDon\u2019t let your GenAI project fail before it begins,\u201d<\/a> provides four guidelines for how organisations can take a Data First approach to achieve better business outcomes, with input from real-world use cases.<\/p>\n\n\n\n

While AI has been around for decades, generative AI solutions like ChatGPT have made this technology more accessible than ever before. ChatGPT has seen lightning-fast adoption, racking up 100 million monthly active users in its first two months, making it the fastest-growing consumer app ever. Since then, businesses have raced to adopt GenAI to glean its many advantages. However, organisations are quickly finding their data isn\u2019t ready to reap the value due to lack of data quality and management. In fact, recent HFS research<\/a> shows that one-third of executives believe less than half of their organisation\u2019s data is actually<\/em> consumable\u2015highlighting just how many organisations aren\u2019t ready for GenAI.<\/p>\n\n\n\n

An improper data foundation can lead to real-world business consequences outside of just poor data quality outputs. If bias exists within the data fed into models, such as gender or racial bias, that bias can be quickly replicated at scale within an organisation. This could cause reputational damage, have regulatory implications, and concern investors. Syniti supports enterprises with a Data First<\/a> approach, helping to ensure the right infrastructure is in place to break down silos and deliver trusted, usable data to fuel GenAI models.<\/p>\n\n\n\n

Naveen Gupta, global data leader, IKEA, said:<\/strong> \u201cThe biggest challenge we\u2019re facing in IKEA is having data management practices in place. We don\u2019t have practices for data cleansing, strategy and governance. We need all of that to make sure GenAI is a success.\u201d<\/p>\n\n\n\n

Phil Fersht, CEO & chief analyst, HFS Research, said, \u201c<\/strong>Data quality is the cornerstone of any successful AI initiative, particularly in the realm of generative AI. Our joint report with Syniti sheds light on a critical issue facing organisations today: the inadequacy of their data foundation. Without robust data management practices in place, the full potential of GenAI remains out of reach. It’s imperative for businesses to prioritise data quality and reliability to unlock the transformative power of AI.”<\/p>\n\n\n\n

Kevin Campbell, CEO, Syniti, said:<\/strong> \u201cGenAI\u2019s potential can\u2019t be overstated, but companies need to approach this technology with the wisdom and respect it deserves. Data quality is critical to all business transformation, including successful use of Generative AI, and it\u2019s shocking how many organisations still don\u2019t properly prepare their data ahead of these initiatives. Companies have a long way to go in terms of data quality and management, but a Data First approach will set organisations up for success.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"\n

Syniti and HFS Research report shares insights on how to increase data quality and reliability to help unleash full potential of GenAI<\/p>\n

Syniti, a global leader in enterprise data management, today announced the results of a study developed with HFS Research to help organisations understand the value they can derive from their generative AI <\/p>\n

Continue reading Enterprises\u2019 Lack of Strong Data Foundation Hinders Wide-Scale GenAI Adoption<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[1,2701],"tags":[1069,3975,25,417,26,264,3976,3978,143,310,416,422,3977],"class_list":["post-8070","post","type-post","status-publish","format-standard","hentry","category-it-it-security","category-technology","tag-data","tag-genai","tag-government-public-sector-journal","tag-government-journal","tag-gpsj","tag-gpsj-magazine","tag-hfs-research","tag-ikea","tag-it","tag-public-sector","tag-public-sector-journal","tag-public-sector-magazine","tag-syniti","odd"],"yoast_head":"\nEnterprises\u2019 Lack of Strong Data Foundation Hinders Wide-Scale GenAI Adoption - 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