The need for Data Governance in AI dominated times
Artificial Intelligence has become indispensable in all sectors. And it makes sense, as it creates a lot of efficiency and new opportunities for organizations. With this growing influence of advanced analytics, it is becoming increasingly important to have data in order and with quality. In this article, we will discuss how data governance, both traditional and GenAI analytics, and AI governance are connected.
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Alba de Juanas Sanz - Partner & Director Data & AI (TMC Spain)
Imagine, baking a cake in a kitchen that is not yours, with products labeled in an unfamiliar language. As you have been baking cakes all your life, and you know useful tips and tricks, you trust the process. You stir all ingredients together, put the mixture in the oven, and when you take it out… it’s not tasty at all. It turns out you’ve replaced the sugar with salt, the cinnamon with nutmeg, and the vanilla essence with meat sauce. This is how organizations without a good Data Governance policy operate on a daily basis.
Data Governance is key
Data governance is about clarity. It is the process of establishing internal rules for your data, your ‘ingredients’. This applies to how data is collected, cleansed, stored, processed and disposed of. Having these clear guidelines is important for all organizations, as it ensures data quality, availability and accessibility. It ensures that everyone cooking in your kitchen knows sugar from salt and has both ingredients available and accessible. With data governance, clear data guidelines are created that allow anyone in the organization to make the right decisions based on the data, or bake the tastiest cakes.
Generative Artificial Intelligence
Data Governance is becoming more and more important, because Generative Artificial Intelligence (GenAI) evolves faster than ever. GenAI is a set of techniques and methods, which generates new and original content from existing data, for example in text, images, videos and sounds.
GenAI can create a lot of time and resource efficiency for organizations, but is of no use without a clear and defined data strategy. Why? Because GenAI feeds itself with data that it has access to. And we all know that – to stick with the food analogy – we are what we eat: who wants strong output, needs high-quality input. This emphasizes the importance of clear data guidelines, so of Data Governance.
GenAI done right? AI Governance!
AI governance is where these two concepts meet. AI governance is about setting rules and guidelines so that artificial intelligence (AI) is used safely, fairly and ethically. This involves making sure that AI does no harm, respects privacy, is transparent about how it makes decisions and is under human control.
It can be defined as the application of rules, processes and responsibilities to get the most value from automated data products. In short, it is important because it prevents AI from leading to misidentification or unfairness when used in decision-making.
Data at TMC
At TMC we know how important these concepts are. For now, and certainly for the future. Our passionate Data Governance and GAI experts help our clients increase their profits, create new opportunities and lines of business, reduce their costs and become more efficient in their decision making - but most importantly, leverage the maximum value from their data.
In short, we ensure that our clients can leverage the full value of their data through analytics by reducing risk, driving growth and innovation in a sustainable and responsible way.
This approach has already proved very useful, for example for one of our retail clients, where we transformed a search engine into an intelligent assistant. This allows them to offer their users a ‘personal shopper’, in real time, anywhere in the world, tailored to their personal tastes and needs. This generates engagement and interaction with the user as well as environmental sustainability by mitigating the risk of returns.
For another client, a supermarket, we created a view of stock and product placement. For this, we use a digital catalogue and a knowledge base that can feed the system. This tool can even guide customers through a shop efficiently with their shopping list, increasing user engagement and satisfaction.
In another of our successes, we generated an internal human resources assistant, based on GenAI. With this assistant, the company's employees have immediate communication and access to personalized information. The assistant also tracks the most recurring concerns, which generates valuable information for the HR department to improve their processes and create a better working environment
Employeneurs with a passion for data
At TMC we know that GenAI saves time and resources and can be of real value to organizations in all types of sectors. But that's only if GenAI is used correctly. Clear data guidelines create high quality data, and high quality data enables sound decision making. That's why our employees focus a lot on Data Governance and AI Governance with our customers. Together, we create insights based on high-quality, traceable data analytics. And we are passionate about that.
Are you curious to know more about Data Governance, Generative Artificial Intelligence, and AI Governance? Let’s catch up and explore how our employeneurs can optimize your organization!
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