Recently the research company Gartner has revealed the top trends which are dominating the data & analytics industry this 2024. Through its research, it also sheds the light on challenges the companies are facing in adopting these trends.
These observations were recently shared at Gartner Data & Analytics Summit, which was held in Mumbai on Thursday. The main discussion which had largely dominated the summit was the AI.
As per the VP Analyst of Gartner Mr. Ramke Ramakrishnan, Artificial Intelligence is changing the way the people work, how teams collaborate and the operation of the process. Amidst this technological revolution, companies that fail to make the transition or leverage data and analytics effectively, especially AI, will fall behind in the race and may not succeed.
“The power of AI, and the increasing importance of GenAI are changing the way people work, teams collaborate, and processes operate…Amidst this technological revolution, organizations that fail to make the transition and effectively leverage D&A, in general, and AI, in particular, will not be successful.” said Ramke Ramakrishnan, VP Analyst of Gartner.
The biggest trends highlighted during the summit emphasized the need to adopt a bet-the-business mindset towards AI, which was emphasized as imperative for Data & Analytics to possess.
This involves demonstrating value by aligning capabilities with the outcomes of the business, followed by the implementation of Finops to optimize resources and reduce costs.
To Understand the need for the organizations to manage the complexity of D &A systems in an effective manner. Also leverage the AI tools for automation and increase productivity.
Another trend emerged was the establishment of trust in data and AI, amidst the growing concerns about its reliability and AI ethics.
Lastly, empower the workforce through AI literacy. And making use of the adaptive governance practices to maximize the adoption of AI. Also encourage the companies to make investments in AI literacy programs & build trust-based approach for the management of assets.