In an increasingly data-driven world, organizations are constantly looking for ways to manage their information more effectively. This is where AI comes in, offering an opportunity to transform data into better decision-making tools. But, as a recent survey of IT leaders underscores, that data must be ready for AI—if it’s not accurate, accessible, and secure, organizations won’t get the desired results.
The CIO MarketPulse survey from Foundry, conducted for OpenText, reflects IT leaders’ views of AI, including its benefits and its challenges. It’s a timely topic, since a large majority of respondents—89%—said interest in AI among their organization’s leaders has increased over the past year. And it shows no sign of slowing down—respondents predicted generative AI will be the most impactful technology next year (40%), ahead of even security (31%).
AI benefits and uses
Respondents were asked what they believed to be the top benefits of AI.Their answers ranged from driving efficiency to reducing operational costs and enhancing the customer experience. They said the departments that could benefit most from AI are sales, marketing, and finance, where employees could use the technology to help with a wide range of tasks.
The need for data management
When it comes to the challenges organizations face in implementing AI, respondents listed issues related to data management as most significant. Since AI relies on data to learn and improve, organizations must ensure that their data is accurate, accessible, and secure. And they must build a solid data foundation, including a governance framework, to take full advantage of the benefits of AI.
Another obstacle to AI adoption is the lack of skills and expertise, highlighting the importance of upskilling employees and investing in partnerships with AI service providers to overcome this challenge. At the same time, respondents acknowledged the risks of not adopting AI, such as missing opportunities for new revenue streams, losing market share, and making inaccurate decisions based on outdated information.
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Smarter AI starts with smarter information management. Read the new CIO MarketPulse report to learn how IT leaders plan to overcome data-management challenges for successful AI implementations.