This year will offer a wake-up call for many, as the overall cost of getting data wrong will be realized. Chief Data and Analytics Officers (CDAOs) and CIOs focusing on AI will rest assured knowing their teams have what they need when it comes to data. One of the major obstacles is sourcing data from a complex portfolio of applications and convincing gatekeepers to say yes. Effectively using intelligent automation will require compelling efforts in data cleansing, integration, and management that IT will need to support. Correcting previous data issues in legacy systems can be a considerable hurdle to leap, especially for larger enterprises. Top organizations will increase, and possibly double, their data strategy budget.
Kathleen Moore, Chief Information Officer, Automation,Utilities & Innovation, HSBC