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Fear of disruption is driving growth in big-data investments

January 04, 2019 / PAUL GILLIN

Organizations are upping their investment in big-data and artificial intelligence initiatives, driven by fear of disruption more than a quest for operational efficiency. That’s according to a just-released NewVantage Partners LLC survey of Fortune 1,000 companies, most of which are in the financial services and healthcare industries. The survey, which NewVantage has conducted annually since 2011, covers only 64 firms, but they include some of the world’s largest banks, insurance and life sciences companies. More than 97 percent of respondents have C-level titles. The good news for big-data aficionados is that enterprises are all in. More than 90 percent of the companies surveyed are quickening their pace of investments in big data and AI projects, with an overwhelming 75 percent saying it’s because they fear disruption from data-driven digital competitors. That’s up dramatically from the 47 percent who cited disruption as a motivator just two years ago. Eight in...