AI In Finance Summit

Big data and artificial intelligence are game changers when it comes to gathering insights and automating tasks. Integrating these technological advantages into organisations and the whole value chain poses big challenges to companies wanting to future-proof their business models. Concrete steps towards this goal come with a multitude of questions regarding necessary data foundations, successful scaling of intelligent applications, and legal and social circumstances.

Given the seismic changes in customer behavior driven by the pandemic, historical data in effect became redundant overnight as businesses instead had to make sense of what was happening in real time. Those businesses with the most established customer data frameworks were therefore much better equipped to respond to these changes and deliver the experiences their customers needed in difficult circumstances.

Data Privacy has become an increasingly pressing concern for individuals in the USA and globally these past few years, as digital technologies have proliferated throughout our lives while numerous, sometimes wide-scale, cases of data breaches and misuses have continued to make the headlines. The huge socio-economic benefits of these technologies are however manyfold, and it is therefore essential that regulation does not impede the endless opportunities they can deliver. Trust, transparency, and accountability are central to the discussions being held around data privacy in the US and will be the core themes of Forum Global’s 4th Annual Data Privacy Conference USA.

There is no doubt that Chief Data Officers (CDOs) have an extraordinary opportunity to utilize their organizations’ enterprise data assets, enable data-driven decision-making and implement digital transformation at scale — all of which are highly needed, especially in the post-pandemic period. In demand, CDOs are in a highly strategic, visionary role to unlock the power of their organizations’ data for AI-infused applications and long-term autonomous enterprise efforts. While the first generation of CDOs was mostly about defense-driven, risk-mitigating endeavors, with an emphasis on data governance, the next generation is about building an enterprise-wide data platform to bring business value out of data.