AI this, Machine Learning that, Data, Data, Data. This article and the associated survey makes for interesting reading. Senior execs are saying they are seeing a good ROI on their AI & data led projects. I find this hard to believe, as every organisation I meet and speak with, they know they are only really scratching the surface.
There is a lot of headline grabbing going on, to be "seen" to be doing something, to "prove" to their clients that,
"hey, look at us we are down with it, we know what we are doing"
Then, as this article cites, this industry is creating a new type of role, but are the lines blurred between the CDO, CIO, CTO and so on. Do you actually need a Data role to head each department, HR, IT, Finance, Marketing & Sales?
I take umbrage with this. Why do we need to create another layer of management or "new" role. In this age of "data is the new oil" or whatever the saying is, my view is that, if your HR Director, Finance Director, Marketing Director, Sales Director, IT Director are not wanting to learn, adapt and progress their roles around how data, AI & ML, or, let's keep this simple - the progression of technology - is changing the way their world works - fire them. Seriously. They are damaging your business by not being forward thinking enough around all of this - are they coming to you new ideas, propositions etc. We need to view this differently. Starting their sentences with I know, because the insight the data is giving me is this - therefore we now need to to consider these options.
"But we have always done it this way"
Sorry, that doesn't cut it anymore. I am amazed by some of the conversations I have within the sales & marketing community of how little knowledge there is, or understanding of what his happening in their world. Yes this can be in part due to leadership, but that does not mean that you cannot self educate. Just google "disruption in sales & marketing" or "sales & marketing ai technology" and there is so much data, insight, knowledge sharing happening, yet it is not being acted upon. Head in the sand, or, this is too difficult, or, not my job - give it to the Data Officer - who probably has very limited understanding of your world - they may "know" a lot about Data, but they do not have the experience you or your department heads have (or should have).
How you use data and technology (AI and/or ML) plus your people to progress better business performance and client engagement should be business as usual - not a role, or box to pass the buck on to someone else.
Who knows, maybe the CEO is the Chief Data Officer.
This continuing rise in the importance and challenges of big data is one of the most important features of contemporary economy and society. The survey results over time provide interesting and useful documentation of this revolution. The rise of AI is only exacerbating this trend. The keys to success are to determine how your firm should respond, assign clear responsibilities for data strategy and results, and then move ahead to execute the needed changes in a systematic and effective fashion.