New York Tech Media
  • News
  • FinTech
  • AI & Robotics
  • Cybersecurity
  • Startups & Leaders
  • Venture Capital
No Result
View All Result
  • News
  • FinTech
  • AI & Robotics
  • Cybersecurity
  • Startups & Leaders
  • Venture Capital
No Result
View All Result
New York Tech Media
No Result
View All Result
Home Benzinga

Data Trust: The Cornerstone of AI Success, According to Ataccama CEO Mike McKee

New York Tech Editorial Team by New York Tech Editorial Team
December 10, 2024
in Benzinga
0
Share on FacebookShare on Twitter

The rapid advancement of AI has spurred a transformative wave across industries, compelling businesses to rethink their data strategies. As the initial frenzy subsides, a new phase emerges, one where establishing “data trust” takes center stage. Mike McKee, CEO of Ataccama, a leading data management and AI solutions provider, emphasizes that data trust is not merely a compliance checkbox but the bedrock upon which successful AI initiatives are built.

“Data trust is the foundation for successful AI implementations—and for building thriving, future-ready businesses,” says McKee. Ataccama’s recent Data Trust Report underscores the symbiotic relationship between data trust and AI adoption, revealing that organizations prioritizing data quality are not only enhancing their decision-making capabilities but also gaining a competitive edge through trustworthy AI. “We explore the challenges organizations face in achieving data trust, the differing perspectives of key stakeholders like CDOs, CTOs, and primary decision makers and the immense opportunities available to those who get it right.”

McKee highlights the urgency of addressing data trust challenges, stating, “Organizations that invest in robust data governance frameworks, upskill their workforce, and build collaborative, cross-functional approaches to data management will find themselves well-positioned to harness AI’s full potential.” The report also sheds light on the prevailing concerns surrounding data privacy and security, particularly as regulations like the EU AI Act come into play.

Despite these challenges, McKee remains optimistic about the transformative potential of AI, provided it’s grounded in data trust. “Improving data quality and accuracy emerges as a central theme and is the top data management priority for 2025 – and for good reason,” he notes. With 81% of respondents recognizing enterprise data as a top business opportunity, the time to act is now. By addressing data trust challenges head-on, organizations can reduce risk, drive innovation, and unlock sustainable growth.

Organizations that proactively address data quality concerns can leverage AI to streamline operations, innovate customer experiences, and mitigate risks.

McKee’s insights emphasize that the journey to AI success is intrinsically linked to the establishment of data trust. By prioritizing data quality, investing in robust data governance, and fostering a culture of collaboration, organizations can unlock the full potential of AI while ensuring ethical, compliant, and sustainable growth. As McKee aptly puts it, “At Ataccama, we’re passionate about empowering you to trust your data and use it as a catalyst for business transformation.”

The report highlights a strong emphasis on the anticipated benefits of AI adoption, particularly in areas like increased efficiency and productivity. Notably, the insurance sector stands out with a significant 74% of respondents expecting productivity gains. Additionally, improved customer service and experience (49%) and enhanced scalability of operations (45%) are recognized as key advantages. The pursuit of competitive advantage through AI is also evident, with 44% of respondents highlighting this benefit.

Key Insights from the Report

  • Operational Efficiency and AI: Operational efficiency emerges as the top strategic spending priority for 2025, with a majority of organizations focusing on streamlining operations through AI. The report underscores the pivotal role of accurate, trustworthy data in achieving operational efficiency goals. By leveraging AI-driven insights, organizations can optimize processes, reduce human error, and drive better business performance.
  • The Transformative Power of AI in Customer Experience: Organizations anticipate that AI will have the greatest transformative impact on customer experience. This is particularly true for organizations with more mature AI adoption, suggesting that as companies gain experience with AI, they increasingly prioritize customer-centric outcomes like personalization and enhanced experiences.
  • The Disconnect Between AI Ambitions and Readiness: There is a strategic gap between leadership ambitions for AI adoption and broader organizational readiness. While many organizations are exploring AI, there are concerns about funding, skills gaps, and legacy systems integration. Addressing these challenges is essential for organizations to successfully implement AI initiatives.
  • The CDO and CTO as AI Champions: Chief Data Officers (CDOs) and Chief Technology Officers (CTOs) share equal responsibility for their organization’s data and are at the forefront of driving AI initiatives. Strong leadership support and collaboration between these roles is crucial for successful AI adoption.
  • Budgetary Concerns and the Need for ROI: Many organizations, especially those in the early stages of AI adoption, feel that their data teams are underfunded. Organizations need to clearly demonstrate the return on investment (ROI) of AI initiatives to secure necessary funding and resources.
  • The Varying Landscape of AI Adoption: The state of AI adoption varies widely across organizations. While some organizations have successfully integrated AI into multiple areas, others are still in the early stages of exploration. The report highlights the need for organizations to assess their AI readiness and develop tailored strategies for adoption.
  • The Need for a Balanced Approach to AI Regulation: While organizations recognize the need for some level of AI regulation, they also express concerns about overly restrictive frameworks that could stifle innovation. The report underscores the need for balanced, industry-specific AI governance frameworks.

Data quality emerges as a top priority and a significant challenge for organizations. Addressing data privacy and security concerns is paramount, especially in sectors dealing with sensitive information like healthcare. There is a delicate balance organizations must strike between leveraging AI’s potential and addressing critical privacy, security, cost, and ethical considerations. While AI’s transformative potential is widely acknowledged, this underscores the importance of aligning expectations with realized benefits. 

Previous Post

How Spiritually Blessed Items Can Transform Your Life?

Next Post

Sukender Reddy Mallreddy’s Journey: Enhancing CRM with AI, Cloud Innovations, and PCI Compliance

New York Tech Editorial Team

New York Tech Editorial Team

New York Tech Media is a leading news publication that aims to provide the latest tech news, fintech, AI & robotics, cybersecurity, startups & leaders, venture capital, and much more!

Next Post
Sukender Reddy Mallreddy’s Journey: Enhancing CRM with AI, Cloud Innovations, and PCI Compliance

Sukender Reddy Mallreddy's Journey: Enhancing CRM with AI, Cloud Innovations, and PCI Compliance

  • Trending
  • Comments
  • Latest
Meet the Top 10 K-Pop Artists Taking Over 2024

Meet the Top 10 K-Pop Artists Taking Over 2024

March 17, 2024
Panther for AWS allows security teams to monitor their AWS infrastructure in real-time

Many businesses lack a formal ransomware plan

March 29, 2022
Zach Mulcahey, 25 | Cover Story | Style Weekly

Zach Mulcahey, 25 | Cover Story | Style Weekly

March 29, 2022
How To Pitch The Investor: Ronen Menipaz, Founder of M51

How To Pitch The Investor: Ronen Menipaz, Founder of M51

March 29, 2022
Japanese Space Industry Startup “Synspective” Raises US $100 Million in Funding

Japanese Space Industry Startup “Synspective” Raises US $100 Million in Funding

March 29, 2022
UK VC fund performance up on last year

VC-backed Aerium develops antibody treatment for Covid-19

March 29, 2022
Startups On Demand: renovai is the Netflix of Online Shopping

Startups On Demand: renovai is the Netflix of Online Shopping

2
Robot Company Offers $200K for Right to Use One Applicant’s Face and Voice ‘Forever’

Robot Company Offers $200K for Right to Use One Applicant’s Face and Voice ‘Forever’

1
Menashe Shani Accessibility High Tech on the low

Revolutionizing Accessibility: The Story of Purple Lens

1

Netgear announces a $1,500 Wi-Fi 6E mesh router

0
These apps let you customize Windows 11 to bring the taskbar back to life

These apps let you customize Windows 11 to bring the taskbar back to life

0
This bipedal robot uses propeller arms to slackline and skateboard

This bipedal robot uses propeller arms to slackline and skateboard

0
The Future of “I Do”: How Technology is Revolutionizing Weddings in 2025

The Future of “I Do”: How Technology is Revolutionizing Weddings in 2025

March 19, 2025
Eldad Tamir

AI vs. Traditional Investing: How FINQ’s SEC RIA License Signals a New Era in Wealth Management

March 17, 2025
Overcoming Payment Challenges: How Waves Audio Streamlined Transactions with BridgerPay

Overcoming Payment Challenges: How Waves Audio Streamlined Transactions with BridgerPay

March 16, 2025
Arvatz and Iyer

PointFive and Emertel Forge Strategic Partnership to Elevate Enterprise FinOps in ANZ

March 13, 2025
Global Funeral Traditions Meet Technology

Global Funeral Traditions Meet Technology

March 9, 2025
Canditech website

Canditech is Revolutionizing Hiring With Their New Product

March 9, 2025

Recommended

The Future of “I Do”: How Technology is Revolutionizing Weddings in 2025

The Future of “I Do”: How Technology is Revolutionizing Weddings in 2025

March 19, 2025
Eldad Tamir

AI vs. Traditional Investing: How FINQ’s SEC RIA License Signals a New Era in Wealth Management

March 17, 2025
Overcoming Payment Challenges: How Waves Audio Streamlined Transactions with BridgerPay

Overcoming Payment Challenges: How Waves Audio Streamlined Transactions with BridgerPay

March 16, 2025
Arvatz and Iyer

PointFive and Emertel Forge Strategic Partnership to Elevate Enterprise FinOps in ANZ

March 13, 2025

Categories

  • AI & Robotics
  • Benzinga
  • Cybersecurity
  • FinTech
  • New York Tech
  • News
  • Startups & Leaders
  • Venture Capital

Tags

3D bio-printing acoustic AI Allseated B2B marketing Business carbon footprint climate change coding Collaborations Companies To Watch consumer tech cryptocurrency deforestation drones earphones Entrepreneur Fetcherr Finance Fintech food security Investing Investors investorsummit israelitech Leaders LinkedIn Leaders Metaverse news OurCrowd PR Real Estate reforestation software start- up startupnation Startups Startups On Demand startuptech Tech Tech leaders technology UAVs Unlimited Robotics VC
  • Contact Us
  • Privacy Policy
  • Terms and conditions

© 2024 All Rights Reserved - New York Tech Media

No Result
View All Result
  • News
  • FinTech
  • AI & Robotics
  • Cybersecurity
  • Startups & Leaders
  • Venture Capital

© 2024 All Rights Reserved - New York Tech Media