Thought Leadership

Building Data Capabilities for AI: 3 Important First Steps  

Now and as we look toward the future, artificial intelligence (AI) revolutionizes the way businesses operate.  

AI is already allowing companies to extract deeper value from their data than ever before by enabling more predictive and prescriptive analytics, such as predicting customer churn or future sales trends. 

AI investments are projected to skyrocket to $200 billion by 2025, and that’s just the beginning of its adoption. The latter half of the decade is expected to witness widespread implementation of AI technologies, making it imperative for organizations to have a sophisticated data strategy in place to support these investments. 

So, what does it take to implement a data strategy successful enough to leverage AI technology? Here are three essential steps to consider: 

1. Get Top-Down Support

Building out a sophisticated data strategy starts with support from the organization’s leaders.  

Overcoming resistance to innovation involves demonstrating clear value propositions, whether in terms of top-line growth or bottom-line savings, to secure the necessary investments and support.  

Focus on the value levers that matter to your audience. Tailor your message to the specific leader you’re talking to. This is rooted in good strategy. 

For example, if you’re pitching an AI use case to the C-level, focus on how data can drive top-line growth, like increasing revenue or expanding into new markets. You can also emphasize cost savings and improving operational efficiency.  

Be strategic, be specific, be results-oriented. Securing buy-in is always the first step forward.  

2. Have Good Data Product Managers and Partners  

After getting buy-in, you need to build, implement, and optimize an infrastructure that suits your use cases. The problem is that most businesses lack the technology, manpower, or time to handle everything on their own. 

That’s why 80% of data and technology leaders shared that their organizations either use or are considering the use of data products and data product management. These are the companies that provide services related to data management, analytics, and technology. 

How Data Partners Add Value

Success is built on partnership and access to the right resources. Data partners exist to offer that partnership and expertise. The right partner can provide you with access to the best technology, offer their skilled workforce, and dedicate the time needed to build what you require.  

Here are just a few ways a data partner like Evergreen adds value:  

  • They offer complete solutions, from developing strategies to implementing them, ensuring smooth integration of data and AI technologies into current systems and processes. 
  • They assess and recommend the most suitable data and AI tools and platforms based on your needs and budget.  
  • They can help establish data and AI governance frameworks so that data quality, security, and compliance are never compromised. 
  • They collaborate with their own technology partners to build unique accelerators that enhance their solutions.

3. Collaborate with Other Tech-Oriented Leaders 

79% of C-level executives agree that their organization has been hindered in the past by a lack of collaboration. Another survey found that the greatest roadblock in becoming a data-driven organization is people and organizational alignment.  

The best way to avoid stagnation and support innovation is to prioritize making high-quality connections with your fellow technology leaders. Form those alliances now if you haven’t already or start thinking of ways to improve the connections you do have. 

At Evergreen, we collaborate and share expertise with our own technology partners in a number of ways. This includes participating in events like Databricks’ Data and AI Summit, participating in webinars, and contributing to panel discussions alongside our Cloud partners. These opportunities provide valuable networking avenues to fuel our organization’s growth and innovation initiatives.

Support, Partnership, and Data Are the Keys to Innovation

AI is the future, and data is the foundation. By securing leadership buy-in, partnering with data experts, and fostering collaboration and alignment across the organization, you can ensure your company is well-positioned to leverage the transformative power of AI. 

Learn more about Mansoor here, and connect with him on LinkedIn.