Organsitions must leverage AI effectively to be successful: Gartner Trends in Data and Analytics 2024

Mumbai (Maharashtra) [India], April 25 : Gartner a research company, has unveiled the top trends in data and analytics (D&A) for 2024, shedding light on the challenges organizations face in embracing these trends. The insights were shared at the Gartner Data & Analytics Summit, held in Mumbai on Thursday.
"The power of AI, and the increasing importance of GenAI are changing the way people work, teams collaborate, and processes operate," said Ramke Ramakrishnan, VP Analyst at Gartner. "Amidst this technological revolution, organizations that fail to make the transition and effectively leverage D&A, in general, and AI, in particular, will not be successful."
One of the key trends highlighted is the imperative for D&A leaders to adopt a "bet-the-business" mindset on AI, positioning themselves as strategic leaders in AI strategy within their enterprises. This entails demonstrating value through aligning capabilities with business outcomes and implementing FinOps practices to optimize resources and reduce costs.
"D&A leaders must demonstrate their value to the organization by linking the capabilities they are developing and the work they do to achieve the business outcomes required by the organization," said Ramakrishnan.
He further added "Amidst this technological revolution, organizations that fail to make the transition and effectively leverage D&A, in general, and AI, in particular, will not be successful"
Another trend, "Managed Complexity," underscores the need for organizations to manage the intricacies of D&A systems efficiently. Embracing complexity and leveraging AI-enabled tools for automation and productivity enhancement are crucial steps in addressing this challenge.
Building trust in data and AI emerges as a critical trend, given the growing concerns about data reliability and AI ethics. Decision intelligence practices and effective AI governance are essential for establishing trust among stakeholders and ensuring accurate decision-making processes.
Lastly, empowering the workforce through AI literacy and adaptive governance practices is emphasized to maximize the benefits of AI adoption. Organizations are encouraged to invest in AI literacy programs and adopt a trust-based approach to managing information assets.
Gartner also introduced the Gartner CDAO Effectiveness Diagnostic, a tool designed to help CDAOs assess their leadership effectiveness and identify areas for improvement.
These trends highlight the evolving landscape of D&A and the imperative for organizations to adapt and innovate in order to thrive in the digital age.