Navigating GenAI’s potential

Data and analytics teams find themselves under what can feel like, constant scrutiny as they try to be successful. Organisations are now reliant on strong and importantly, clean insights from data analysis to make informed decisions. It’s now imperative, that all data teams, no matter their size, must rise to the occasion. In a time where many C-suite executives are discussing GenAI, in almost every sentence, it’s essential that data teams aren’t seen as an ‘either-or’ but rather a key element to embracing future technologies.

“Traditional data, analytics, and AI were centred around specific business functions like marketing, customer service, and finance. While gen AI will accelerate these functions, it will also open up new possibilities for business functions that previously had limited use of data, analytics or AI, such as HR, legal, and office administration. Brainstorming, processing documents, scheduling work, and organizing and planning — these are just some of the work activities expected to be most impacted by AI in the next three years.” says, Yasmeen Ahmad, the Managing Director of Strategy & Outbound PM, Data & Analytics, in a recent Google cloud blog.

Data initiatives have the power to transform businesses in so many ways than ever seen or realised before! Organisations are now tasked with the challenge, of looking further than the usual descriptive metrics; a huge hurdle for many due to their data quality issues etc. Data, when used correctly, can be used to streamline operations, improve user journeys, or find new sources of income. Now many of the industry trailblazers are going beyond this, and into a whole new world of data-embraced working; such as working with GenAI.

However, before an organisation invests in GenAI it needs to avoid making the repeated mistake of spending a great deal of money on something it may not essentially need or not have the right foundations in place for. Like any database, highly organised and strong data systems are required as a starting point. Without a strong foundation, the business may potentially be wasting its money, something in 2024 that simply cannot happen, with greater emphasis on data value.

In our recent report released in partnership with Cambridge Spark, Dr. Raoul-Gabriel Urma, Executive Chairman at Cambridge Spark and Industrial Fellow at the University of Cambridge explained that “GenAI has caused an explosive interest in AI across our organisation and this has led to the data and AI functions being inundated with asks and ideas rather than substantial business problems to solve”

Naturally, as one may suspect, there are both opportunities and challenges that come with this. Organisations must find the perfect, yet challenging balance between proving the value of their D&A efforts and laying the foundations for successful GenAI implementation. Something many of our Driven by Data community members are grappling with right now.

Here at Orbition, we’re keen to see how our industry leaders will be navigating this challenge going forward, as we don’t see a clear path of success mapped out yet!

Sophie is our Head of Marketing. She has a wealth of experience in marketing and communications, having driven strategic initiatives and managed direct communications.

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