As the name implies, artificial intelligence (AI) plays a central role in an AI-led data strategy initiative. It can be an outcome of the project through a proof of concept (POC) and is also intricately woven into the execution of the project itself. AI-led data strategy projects capitalize on the capabilities of AI and LLMs to efficiently analyze both internal and market data and generate deep insight that can be used to propel an organization forward.
Compared to a traditional data strategy or an accelerated data strategy, the AI-led approach reduces reliance on extensive interviews and manual information gathering, combining stakeholder input, company data, and industry and market insights to identify the analytics and AI initiatives that can have the most possible positive impact on the company. This is ideal for companies aiming to demonstrate quick value and make substantial, rapid progress through their data strategy investments.
The AI-led approach focuses on shaping a foundation for essential deliverables and developing a value-led future state and roadmap. In terms of deliverable outcomes, an AI-led data strategy project is similar to an accelerated data strategy, resulting in a comprehensive assessment of the current state of the data ecosystem, prioritized use cases, a future state architecture and implementation roadmap, and a POC for one high-priority analytics or AI use case that can be used to demonstrate rapid value.
However, an AI-led data strategy is different in its approach, using AI to compare generated use cases to available technical knowledge bases from major analytics stacks. This helps to ensure timely, accurate target state recommendations, streamlining the assessment process and providing data-driven analysis of what potential analytics and AI use cases and capabilities should be prioritized.
This approach is the optimal choice for organizations facing substantial pressure to modernize swiftly or experiencing market demands to rapidly introduce new data, analytics, and AI capabilities. Delivering both a comprehensive future state architecture and tangible POC for a new analytics or AI capability empowers companies to understand their data needs and demonstrate the real-life value of modernized data and analytics infrastructure.
An AI-led data strategy is particularly suitable for entities looking to achieve maximum impact within limited resources, as the use of AI minimizes the amount of manual interviews and information gathering required to kick off a strategy project. In addition, this type of project caters to organizations seeking to ascend the analytics maturity curve rapidly and demonstrate value quickly, taking a focused and impactful route to innovation.
By harnessing the power of AI, companies are able to uncover insights and opportunities at an unprecedented pace, driving efficiency and innovation. This streamlines processes and empowers decision-makers with the insights needed to thrive in today’s data-centric world. Thus, embarking on an AI-led data strategy initiative can be a massive leap forward for businesses aiming to distinguish themselves in a competitive marketplace.
To learn more about the ins and outs of planning a data strategy project, download Mastering Your Data: The Ultimate Guide to Data Strategy today or get in contact with Wavicle’s data strategy consultants to find out how we can help set you up for success.