Whether their data are stored in a cloud or lake, most companies have a respectable volume of digital information at their disposal. But are business and industry making sufficient use of the potential already offered by AI and data analytics today?
“The future viability of a company or organization will depend on how efficiently it is able to use this set of tools,” says Kevin Lin, who is responsible for the Artificial Intelligence and Data Analytics field at the Porsche Consulting management consultancy, together with Associate Partner Fabian Schmidt. He and his ten-member expert team know from their own experience that all too often the stockpiles of most companies turn out to be minimally structured and largely unprocessed masses of raw material.
In order to fully exploit the potential of AI and data analytics, it is essential for companies to create the necessary infrastructure for AI applications. In addition, data quality is crucial: many companies don’t define the responsibilities of their data owners, meaning the people in charge of data management and quality, in clear and uniform terms. According to Kevin Lin, effective management would be helpful here, with overarching data governance. The third factor acting as a brake on progress has to do with a highly sensitive and complicated matter, namely the way in which data protection is understood. Legal considerations often prevent available information from being used.