Harnessing the Power of Data: Unveiling Strategies for Monetization and Security
This late-February Executive Lunch from the Board of Trade brought together industry leaders to delve into the profound realm of data, seeking to unlock its vast potential while navigating the intricate web of regulations and security protocols.
Spearheaded by Sarah Senyo, Deals Transformation Principal at PwC, and John Sikaitis, Senior Vice President of Data & Technology at CBRE, the event illuminated the path towards harnessing data’s transformative power in an era defined by artificial intelligence and cybersecurity.
With technology propelling data creation to unprecedented heights, an astonishing 90% of the world’s data assets have materialized within the last 24 months. Yet, despite this exponential surge, a staggering 96% of individuals worldwide remain ensconced in a state of data illiteracy, relying primarily on archaic tools like Excel spreadsheets for interaction.
Amidst engaging discussions, participants at the executive lunch grappled with the pivotal question of where to commence their data odyssey. At the crux of the dialogue lay multifaceted concerns, ranging from data breaches to privacy encroachments and the specter of liability entwined with AI utilization. The integrity of data and the essence of capturing pertinent data points emerged as paramount considerations, underpinning the overarching goal for effective data utilization.
Sarah Senyo, providing wisdom on the subject that she’s honed through her work at PwC, advocated for embarking on a profound introspection into one’s data journey. “What is your data journey?” she posited, igniting a spark of introspection among the attendees. With the potential to leverage and monetize data looming large, Senyo emphasized the imperative of taking stock of one’s data inventory. Furthermore, she shared that there are virtues of harnessing internal skill sets of employees and forging strategic partnerships to amplify the impact of data initiatives.
Echoing Senyo’s sentiment, John Sikaitis at CBRE unveiled two groundbreaking AI solutions poised to revolutionize the data landscape. The first, Introhive’s Customer Intelligence Platform, stands as a beacon of innovation, automating the capture and enrichment of client data while unlocking profound insights into organizational networks and activities. Sikaitis also lauded Thoughtspot, a pioneering platform empowering organization to navigate the labyrinth of data with unparalleled ease.
The Takeaway: Embrace the data revolution, seize the reins of innovation, and chart a course towards a future where data is not merely a commodity but a catalyst for transformative change. In the ever-evolving landscape of technology, the power of data beckons, ready to be harnessed by those bold enough to venture into its depths.
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