2024 Harvard Business Review Analytic Services Report on the Age of AI

Businesses are gearing up for a new wave of innovation and productivity with AI and generative AI. However, as they explore AI, many realise they lack the solid data foundation needed to use this technology safely and effectively.

Supported by Microsoft and Profisee, Harvard Business Review Analytic Services surveyed 362 professionals involved in AI decisions globally. The survey aimed to understand their approaches to AI adoption, the challenges they face, and the strategies they are testing.

The results show that while nearly two-thirds of respondents see AI adoption as a mid-level or top strategic priority, only 10% believe their organisations are “completely ready” for it.

Key insights from the report 

HBR Report Graph 4 Circle Graphs

The importance of a robust data foundation

AI’s potential can only be realised if it is built on a strong data foundation. The report highlights how essential high-quality, well-integrated data is for effective AI implementation. Companies that invest in Master Data Management technology have more robust data management practices, and therefore are better positioned to leverage AI technologies, drive innovation, and maintain a competitive edge.

Overcoming data quality and integration challenges

One of the significant barriers to successful AI adoption is poor data quality and fragmented data systems. The report outlines strategies for overcoming these challenges, such as implementing advanced data governance frameworks and investing in data integration tools. By addressing these issues, businesses can ensure their AI initiatives are built on reliable and accurate data.

50% Say that when it comes to data challenges their organisation is experiencing in adopting AI, they’re having difficulty integrating diverse data sources into a unified format.

Strategies for leveraging AI to gain a competitive edge

The report offers practical strategies for businesses to harness the power of AI effectively. From enhancing customer experiences to optimising operations and driving strategic decision-making, AI has the potential to revolutionise various aspects of business. The key is to align AI initiatives with corporate strategy and ensure they are supported by a solid data infrastructure.

Age of AI Report by Harvard Business Review 2024

Don’t miss out on this essential guide for businesses looking to harness AI effectively. Fill in the form to download the full report by Harvard Business Review Analytic Services – get practical ideas for how to start your journey towards data readiness for AI.

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