Survey shows AI has major impact on data culture
Although 2023 is considered the year of GenAI, the technology’s widespread adoption rate has not met expectations. Most organizations continue to invest in GenAI but have yet to see clear and material returns. Still, the GenAI hype has had a significant impact on organizations' data and analytics culture.
Wavestone reveals the impact of GenAI on companies’ data-driven important discoveries in its newly released Data and Artificial Intelligence Leadership Executive Survey. The survey covered executives from multiple Fortune 1000 companies, including those who hold the title of chief data and analytics officer (CDAO) or chief data officer (CDO).
Wavestone’s research points out that many companies are actively exploring and developing GenAI technology, which has an important impact on leadership’s views on data, analytics and artificial intelligence.
In a foreword to this year’s study, Randy Bean, an innovation fellow at Wavestone, founder of NewVantage Partners, and Thomas H. Davenport, author of Competing on Analytics, noted: “Since the survey began, generative Artificial intelligence appears to be sparking unprecedented positive change in organizations’ data and analytics cultures.”
Wavestone is a business and digital consulting firm that provides critical digital transformation support to enterprises. The company is known for its leadership in data and artificial intelligence, and its executive survey is widely considered one of the longest-running ongoing surveys of the Fortune 1000 and the world's leading data, analytics and artificial intelligence companies.
In previous Wavestone surveys, organizations reported a decline in data and analytics culture. However, by 2024, the proportion of data leaders saying their organizations have “established a data and analytics culture” has increased from 21% to 43%. This significant change marks the largest advancement in the company's investigative history.
The only major change between the 2023 and 2024 surveys is the emergence of GenAI, which may be responsible for the jump in positive responses to data culture.
The decline in data and analytics culture over the past few years has been largely due to a failure to build a data culture and a focus more on technology investment than culture. But today, this is changing as data leaders recognize the value of culture and are starting to see returns on their investments in data culture.
According to this survey, one of the most anticipated benefits of using GenAI is increased personal productivity. This use of data and artificial intelligence at work could become a major driver of cultural change. The popularity of GenAI has also made people believe that digital transformation is more feasible, and data leaders’ enthusiasm and optimism about GenAI spread throughout the organization.
The survey results also show that data leaders are also aware of the challenges and risks posed by GenAI. They understand that safeguards and guardrails are needed to govern the use of GenAI. More than three-fifths (63%) of respondents said their organizations have mechanisms in place to manage the use of GenAI.
There is also the threat that if GenAI is going through a "hype cycle" as Gartner predicts, then we may experience a "trough of disillusionment." This means that the positive impact on data culture may start to fade.
To ensure this momentum doesn’t fade away, organizations must continue to experiment with GenAI on an individual level. These companies also need to ensure they are conducting organizational-level experiments on how best to leverage GenAI.
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To achieve more lasting cultural change, organizations must move GenAI systems into production deployments quickly. Wavestone’s survey shows that only 5% of GenAI projects have entered the production stage. Another important step is GenAI education and training for employees at all levels to help develop a deep understanding of how to get the most value from the technology.
There is still much work to be done, however, if organizations can achieve some of these goals, then we can expect AI to bring about more dramatic and permanent shifts in data culture.
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