Future of AI & Data: PwC and Salesforce

As organisations scale and reimagine the way they work, there are higher expectations when it comes to data utilisation. While customers demand better experiences, employees need data-driven decision-making, and shareholders expect companies to become more data-driven. This has resulted in data becoming a top priority for organisations. According to Selchuk Emin, using data to drive business performance has now become mission-critical.

Prior to 2003, there was traditional reporting of data, while between 2004 and 2022, organisations used self-serve analytics where professionals could see and understand the data and generate reports. Now in 2023 and beyond, analytics is for everyone, and it enables individuals to not only see and understand data but also act on it.

As data analytics becomes more domain-aware, it is able to recognise key goals and KPIs, allowing organisations to make more accurate and trustworthy predictions. It is time that analytics became domain aware. They should be aware of your key goals and KPIs; allow you to take action; know you and are personalised to what you care about and appear in the context of systems where you work.

GenAI democratises technology. Its large language models (LLMs) are trained on huge data sets to generate, summarise and translate human-like text and other multimedia content. LLMs gather data, model it and even predict unknown data to answer questions, analyse sentiments, extract information, caption images, recognise objects and follow instructions. It offers smart contextual insights that drive business value. According to Selchuk Emin, GenAI can provide a 10x boost in areas such as data analysis, task automation, content creation, and learning and development. Kamal adds to this by saying that GenAI will become the most powerful tool to accelerate productivity, thus boosting enterprise automation implementation.

However, the effectiveness of GenAI depends on the underlying data or system. Poor data compromises the benefits of GenAI. Data plays a crucial role as it provides the foundation for machine learning models to identify patterns and trends, which are used for predictions and decisions. The quality of data affects the accuracy of the results.

The impact of AI-powered data and analytics can be game changing for organisations. With new AI capabilities transforming how organisations operate, from data analysts leveraging Salesforce's Einstein Copilot for Tableau to CRM users accessing intelligent apps, the potential for innovation is limitless. “The advent of foundation models has revolutionised the field of AI by providing a starting point for developers and researchers. This streamlines the process of creating new AI systems by leveraging the existing knowledge encapsulated in these models for a significant number of tasks,” Kamal adds.

However, trust is an essential element that cannot be neglected. Establishing a layer of trust that secures data retrieval, detects bias, and eases auditing requirements is critical for businesses to unlock the full potential of AI. 

Without this crucial trust between company data and AI models, concerns over privacy and security could stall adoption, hindering progress and limiting growth. 

The future of data monetisation is here. Embedded analytics will play a critical role in unlocking its potential. Gartner predicts that within the next few years, more than 25% of Fortune 500 chief data and analytics officers will be responsible for at least one data and analytics-based product that becomes a top earner. By leveraging embedded analytics, businesses can monetise internal data, unlock new revenue streams, improve operational efficiency, and enhance customer relationships. The possibilities are endless and organisations must be ready to explore the possibilities of AI and data in powering innovation. 

Contact us today to start your journey. With our expertise, you can unlock the benefits of AI and take your data and innovation efforts to new heights.