At the September 2024 edition of CTO Insights in Bogota, Victor Hoyos, AI Business & Data Science Director at iDATA, shared his vision on how companies can create and manage an Artificial Intelligence (AI) Center of Excellence at the corporate level.
His talk addressed current challenges, future opportunities and how organizations can position themselves as leaders in a world driven by artificial intelligence and data. Through his talk, Hoyos presented a comprehensive view on the importance of data, governance, emerging technology trends and how companies must adapt to ride the wave of AI-driven innovation.
The impact of data on corporate strategy
In his talk, Hoyos stressed that data has become the most valuable strategic asset of any modern enterprise. An organization's ability to extract value from data, manage it effectively and turn it into actionable decisions is critical to ensure competitiveness in the marketplace.
Since 2022, the launch of GPT-3 by OpenAI marked a revolution that democratized the use of AI, accelerating its adoption. Hoyos emphasized that, by 2026, more than 80% of organizations will be using AI, according to Gartner. In this context, companies must focus on leveraging their data not only to optimize processes, but also to innovate and maintain their competitive position.
Data governance: the cornerstone of an AI center of excellence
One of the key points that Hoyos addressed was the data governance. As the use of AI increases, organizations face an urgent need to establish consistent structures for managing data. Without strong governance, many companies will not be able to extract the full value from their AI investments.
In fact, it is estimated that by 2027, 60% of organizations will fail to realize the expected benefits of their AI initiatives due to poor data governance structures. Therefore, an AI Center of Excellence must rely on rigorous data management, including clearly defined roles, access and usage rules to ensure that data is used ethically and effectively.
Hoyos also highlighted the concept of data sovereigntyThe new technology, a key trend that will enable organizations to manage their data more securely and efficiently. By 2025, the summary data will become a crucial tool to prevent privacy breaches, protecting companies from up to 70% of data protection-related penalties.
Emerging trends: Generative AI and synthetic data
Among the trends that Hoyos mentioned, the Generative AI and the summary data are transforming the way enterprises address their technology challenges. By 2028, more than 50% of organizations attempting to develop their own AI models from scratch will abandon these efforts due to high costs and technical complexity. This fact underscores the importance of having advanced technologies and specialized talent to manage and scale AI solutions efficiently.
Generative AI enables machines to create content and solutions from existing data patterns, opening up a world of possibilities to personalize products and optimize business decision making. On the other hand summary data offer a secure way to generate data to train AI models, without compromising user privacy, which is essential in a regulated environment.
Storytelling and the power of data
One of the most interesting aspects of the talk was the importance of the storytelling in the use of data. Hoyos, quoting Daniel Kahneman, stressed that "no one makes decisions based on numbers alone; stories are essential." This perspective highlights the need to transform data analytics into narratives that facilitate understanding and enable business leaders to make better decisions.
By 2025, it is expected that the DATA STORIES become the main way of consuming analytics, with 75% of them generated automatically using advanced techniques. This implies that, in addition to having tools to analyze data, companies must develop the ability to communicate those analytics in an engaging and understandable way.
Prompt engineering and the future of AI interaction.
Hoyos also explored the emerging concept of prompt engineeringwhich facilitates interaction with AI models through the use of natural language. By 2026, it is estimated that 80% of the directions given to machines will be semi-automated or fully automated. This will not only facilitate access to AI, but will allow people without advanced technical knowledge to interact with these technologies effectively.
This breakthrough in human-machine interaction is transforming the way organizations integrate AI into their daily processes, removing technical barriers and accelerating the adoption of AI in various industries.
Conclusion: strategy and governance as keys to success in IA
Victor Hoyos' talk at CTO Insights Bogota highlighted that the creation of an AI Center of Excellence depends not only on the implementation of advanced technologies, but also on a solid strategy and effective data governance. Organizations that manage to master these aspects will be better positioned to capitalize on the power of AI and transform their operations.
The future belongs to companies that understand that data is not just a resource, but the heart of innovation and competitive advantage in the digital age.