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DATA FIRST, AI LATER: WHY A SOLID STRATEGY IS CRUCIAL FOR GROWTH
Edgar Randall of Dun & Bradstreet argues that UK businesses cannot unlock the promised growth of AI without first establishing a robust and well-defined data strategy.
In a relatively short space of time we’ ve gone from AI being something of a pipe-dream for many, to something integrated into the very fabric of our society. The benefits of AI for businesses have been discussed at length, from analysing vast datasets to generating insights and automating processes. At this point, most businesses have at least some experience using AI, with many creating their own AI strategies, products and solutions.
For CIOs specifically, AI represents an unmissable opportunity to drive innovation, efficiency and competitive advantage. Yet, beneath its many benefits lies a critical challenge that’ s not spoken about enough: AI is often opaque. Its outputs, while sometimes correct, are not infallible. And when you can’ t discern when AI is wrong, trusting it to be right becomes a gamble – and not one you should risk your business on.
AI is often opaque. Its outputs, while sometimes correct, are not infallible. And when you can’ t discern when AI is wrong, trusting it to be right becomes a gamble – and not one you should risk your business on.
This opacity poses a significant risk for the many organisations and CIOs, betting on AI to deliver business value. If AI’ s outputs are unreliable or misleading, the consequences can be catastrophic, ranging from operational inefficiencies at one end of the scale to significant reputational damage and loss of revenue at the other.
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