When it comes Generative AI, Data really is your MOAT! This week, we cover the latest in Generative AI research from the Boston Consulting Group (you might have read Matt Marshall's latest perspective on it here). I also bring an "expert guest" to help use determine why Chief Data Officers are set up to fail. Let's dive right in!
- How To Create and Destroy Value with Generative AI. According to Boston Consulting’s latest research, 90% of participants improved their performance when using generative AI for creative product innovation and in fact converged on a level of performance that was 40% higher than that of those working on the same task without Gen AI. HOWEVER, when participants used the technology for business problem solving, they performed 23% worse than those doing the task without GPT-4. Even participants who were warned about the possibility of wrong answers from the tool did not challenge its output. Bottom Line: Gen AI is a powerful LEVELER of performance BUT seems that people might mistrust the technology in areas where it can contribute massive value and to trust it too much in areas where the technology isn’t competent.
- How To Prioritize Generative AI use-cases: drawing from examples of great organizations (Wendy’s, Mayo Family Foundation, Walmart, Wayfair, Bloomberg…etc) and research from BCG, McKinsey and more, I unveil my “MT-CAC” acronym to select the right use-cases for Enterprise Gen AI applications. MT-CAC stands for Multi-Modal, Trusted, Current, Applied, Contextual. In this LinkedIN Live, we also discuss why Data Quality is in fact your MOAT and how Generative AI execution is stuff between FOMO and FOMU right now.
- Are Data Leaders Set Up To Fail?! A meager 20.6% of executives reported that a data culture had been established within their companies, down from the 28.3% of companies reporting having established a data culture back in 2019. It doesn't seem we're making progress. What's really happening? My "special guest" explains!
The CarCast also includes EXTRAS like: “The latest Cybersecurity MAP”, “The future of Generative AI. In 15 charts” and a Marc Randolphism (Netflix co-founder) on what defines a company.
What's your opinion on this week's topics? Leave your comment below and let's continue the conversation
Have a great week!