{"id":25821,"date":"2018-03-21T08:02:18","date_gmt":"2018-03-21T15:02:18","guid":{"rendered":"https:\/\/www.esri.com\/about\/newsroom\/?post_type=wherenext&#038;p=25821"},"modified":"2024-05-10T06:01:42","modified_gmt":"2024-05-10T13:01:42","slug":"business-executives-and-ai","status":"publish","type":"wherenext","link":"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/business-executives-and-ai","title":{"rendered":"AI Leads Corporate Data Priorities, but Worries Outweigh Progress"},"author":501,"featured_media":25811,"parent":0,"menu_order":0,"template":"","format":"standard","meta":{"_acf_changed":false,"sync_status":"","episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","castos_file_data":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","_links_to":"","_links_to_target":""},"categories":[1001],"tags":[1741,1391,871],"department":[476822,488812],"wherenext-category":[],"industry":[],"class_list":["post-25821","wherenext","type-wherenext","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial","tag-ai","tag-artificial-intelligence","tag-big-data","department-data-and-ai","department-emerging-technologies"],"acf":{"short_description":"As business executives struggle to leverage artificial intelligence, big data, and analytics, many worry about more-agile competitors.","pdf":{"host_remotely":false,"file":"","file_url":""},"flexible_content":[{"acf_fc_layout":"content","content":"Big data persists as a top-of-mind concern for business leaders, and the use of artificial intelligence (AI) is on the rise. Most companies now lump traditional data analytics, big data, and AI together in their strategies, since all help businesses make sense of the data explosion they\u2019re experiencing.\r\n\r\nThese findings come from New Vantage Partners\u2019 recently released <a href=\"http:\/\/newvantage.com\/app\/uploads\/2018\/01\/Big-Data-Executive-Survey-2018-Findings-1.pdf\">annual survey<\/a> of how large corporations view data. The <em>Harvard Business Review <\/em>(limited access) <a href=\"https:\/\/hbr.org\/2018\/02\/big-companies-are-embracing-analytics-but-most-still-dont-have-a-data-driven-culture\">summarized the report<\/a> with some encouraging and worrying findings.\r\n\r\nOn the positive side, 73 percent of respondents reported having achieved measurable value from initiatives involving data analytics, big data, and AI. On the negative side, nearly 80 percent of the executives who responded said they fear disruption or displacement."},{"acf_fc_layout":"content","content":"In short, they fear their companies won\u2019t move fast enough to compete with upstarts steeped in a data-driven culture. A full 99 percent of the executives surveyed say they are shifting to become data-driven, but only one-third have achieved the objective.\r\n\r\n<strong>Executive Roles for AI, Big Data <\/strong>\r\n\r\nNew data-oriented management roles are helping to accelerate the shift, including chief information officer, chief data officer, chief digital officer, chief analytics officer, and more. \u00a0Unfortunately, the survey found that the roles still lack clarity, particularly as they relate to one another.\r\n\r\nSurvey responses came predominantly from chief data officers (CDOs), who accounted for 56 percent of the surveys completed. This illustrates the CDO\u2019s growing role\u201432 percent of last year\u2019s respondents held the title, while only 12 percent did in 2012). Amen Ra Mashariki, former chief analytics officer (CAO) of the City of New York and urban analytics lead at Esri, helped define the distinction between the CDO and CAO in a recent <a href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/smart-city-and-the-chief-analytics-officer\/\"><em>WhereNext<\/em> article<\/a>. He says CDOs collect and organize data to ensure accuracy, currency, and accessibility, while the CAO analyzes the data to pinpoint solutions and make better, faster business decisions.\r\n\r\nThe New Vantage Partners study singles out AI as the most disruptive force (72 percent chose it as the most disruptive, while 13 percent picked cloud computing and 7 percent chose blockchain). Most executives are looking to AI to extend analytical capabilities and make better decisions around customer service and expense reduction. Just 27 percent are pursuing innovation and disruptions of their own at this stage, and those that are are focused on speed to market or data monetization.\r\n\r\nExperts advise executives to proactively develop a strategy for applying AI within their company, rather than waiting to see which AI applications bubble up from the lines of business. <a href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/artificial-intelligence-improves-business-decisions\/\">This recent <em>WhereNext <\/em>article<\/a> examines a strategy an executive might use to improve customer service through AI. The strategy combines big data analysis, location intelligence, and AI to provide faster service and customer care by empowering field employees to make more-informed decisions.\r\n\r\nFor business executives, big data and AI loom large in importance, as the survey results clearly illustrate. As organizations explore different techniques to make sense of disparate data, many are finding <a href=\"https:\/\/www.esri.com\/en-us\/location-intelligence\">location intelligence<\/a> a valuable part of the equation. Every business activity happens somewhere, and the combination of location analytics, big data, and AI is helping unlock patterns and eliminate fear as businesses seek to strengthen their decision-making.\r\n\r\n&nbsp;\r\n\r\nDive deeper into digital transformation and business decisions at the edge in this\u00a0<a href=\"https:\/\/www.esri.com\/about\/newsroom\/podcast\/the-three-stages-of-digital-transformation\/\">podcast interview<\/a>.\r\n\r\n<em>Photo courtesy of Dane Deaner.<\/em>"}],"references":null},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.9 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Corporate Executives Wrestle with AI, Big Data \u2502 Artificial Intelligence<\/title>\n<meta name=\"description\" content=\"Artificial intelligence (AI), big data, and analytics are top priorities for business executives, but confusion over executive roles persists.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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