4 Steps To Building Enterprise 2030, The AI-Powered Company Of The Future

The following comments from Teradata CMO Jacqueline Woods have been lightly edited for clarity and length. Teradata has long understood the importance of AI. Now, as generative AI dominates the headlines and makes AI an enterprise priority, the big question is this: How and where should enterprises invest in AI for maximum impact? We wanted enterprises to speak for themselves on this pivotal topic, so we partnered with Forbes Insights to survey 1,001 executive leaders around the world to understand how they envision an AI- and data-driven future.

Their answers revealed four key steps to building Enterprise 2030, the AI-powered company of the future. Everything starts and stops with data. Our research finds most leaders characterize their organization’s data capabilities as average at best.

For example, only 24% of respondents in our survey strongly agree their organizations have the data they need to make informed decisions. And just 11% of organizations strongly agree they have fully integrated, harmonized and visualized data across the enterprise. If business leaders want to make valuable use of their data , they must begin by compiling an inventory of what they have relative to what they need, despite the complexity.

Organizations should understand all the data sources within the enterprise. Why are they there? What purpose do they serve? Answering these questions can help executives make sense of what to use to help run their organizations and accelerate transformation. To create value from data and AI , organizations must first pinpoint the highest and best use of it.

For most companies, the possibilities may appear limitless and there are many things you could do. The key question is: What should you do? It’s all about channeling strengths. The idea is to identify and hone distinctive competencies by juxtaposing them against market benchmarks.

Presently, AI is making significant inroads in areas like customer service, risk management, supply chain optimization and financial management, to name a few. Organizations should be bold in challenging the status quo. This is the time to set thoughtful but ambitious goals that push boundaries.

Because if you don’t, it is certain that your competition will. Despite the crucial role of data accessibility, only 1% of organizations currently give more than 50% of their workforce direct access to enterprise data through analytical tools or platforms, according to our survey. For organizations to accelerate transformation, it begins at the top.

Leadership should act as a beacon , providing employees across the enterprise with the direction, inspiration, tools and resources to access and use enterprise data to confidently and responsibly extract insights that can spur innovation. That culture shift starts with creating a single version of truth, which many companies still struggle with. As a baseline, organizations should create reusable data products, or “curated sets of known good data,” from which employees can begin to cull insights.

These data products are critical for helping organizations gain more control over their data estate, improve data quality and transform business intelligence into actionable insights. Generative AI is expected to add trillions of dollars of economic value to the economy. But there’s a flip side.

Businesses could waste hundreds of millions, even billions, if they don’t address common challenges. The real value is unleashed only when companies efficiently transition AI from a sandboxed proof of concept to an actual production environment. The way to accomplish this is two-fold.

By choosing the right platform, businesses can achieve unmatched workload efficiency and faster data preparation. The key is to find a platform that offers top-tier cloud-native capabilities and facilitates faster data access with minimal total cost of ownership. Your peers have spoken: AI is the inflection point that’s changing the gravity of enterprises.

It’s clear everyone is talking about it. So, now’s the time to start acting. Based on the massive value AI can unlock, enterprises that don’t adopt this technology now face a very real risk to their business.

The ones that do unleash AI innovation will pull ahead of their competition. Enterprises cannot wait. Join us in discovering how your organization can reap the rewards of the AI-driven decade.

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