Published on February 7, 2024, 8:11 am
Enterprise executives are increasingly recognizing the importance of generative AI and its potential impact on their organizations. In fact, spending on generative AI technology is projected to reach a staggering $443 billion by 2027. To ensure they don’t fall behind, CIOs are seeking AI expertise to guide them through the adoption journey.
In many cases, this means enlisting the help of AI service providers who offer a range of services including strategy development, data engineering, model development and testing, operations, and governance across various AI technologies. These providers address one of the main barriers to AI implementation: data readiness.
Data readiness refers to the state in which an organization’s data is prepared for use in generative AI projects. Many challenges must be overcome before embarking on such a journey, including data silos, outdated content architecture, and a lack of data science skills. This is where AI service providers come in.
There are two key factors driving the need for CIOs to utilize data services provided by these providers. Firstly, there is clear evidence that building a data-centric organization sets the foundation for an AI-centric future business. Secondly, leveraging data services enables organizations to unlock valuable data resources while also democratizing access to data science capabilities.
For larger enterprises, comprehensive data service offerings have become a point of differentiation among different AI service providers. These offerings aim not only to tap into an organization’s existing data but also to ensure its quality and suitability for generative AI projects. By addressing issues such as imbalance or mislabeling through responsible AI frameworks and mechanisms, trust can be restored within client organizations.
To ensure project success when working with an AI service provider, CIOs should prioritize certain tasks. Firstly, they should assess their organization’s current state of readiness by identifying any existing challenges related to their data infrastructure and policies. From there, they can collaborate with their chosen provider to develop tailored solutions that address these challenges effectively.
As generative AI projects gain momentum, organizations must confront the data readiness challenges they face. By leveraging data services provided by AI service providers, organizations can position themselves for success in this rapidly evolving field. The key lies in recognizing the importance of data centricity and taking proactive steps to overcome any obstacles that stand in the way.