As digital data generation and usage continue to rise, research from the consulting outfit Capgemini highlights that significant data challenges persist. While global digital data is projected to reach 175 zettabytes by 2025--an amount equivalent to half of the world’s population, or about 4bn people, engaging in HD video calls with the other half continuously for nearly 42 years, with each call using 2 MB of data per minute--this vast volume does not automatically translate into actionable insights.

For example, the European Commission estimates that real-time traffic avoidance could save up to 730m hours, translating into potential labour cost savings of up to €20bn. Additionally, the data economy within the EU is valued at approximately €829bn, illustrating the considerable economic impact of effectively harnessing data.

GenAI gaining traction

In the pursuit of actionable data and understanding ‘data-powered decision-making’, Capgemini surveyed 500 business executives and 500 data executives from organisations across 12 countries, all with annual revenues exceeding $1bn. The survey results, on Tuesday 3 September 2024, found that while some challenges identified in the inaugural 2020 poll persist, their intensity has diminished. New priorities, particularly around generative artificial intelligence, have emerged.

The report disclosed that while 60% of organisations had implemented some sort of pilots or early proofs of concept for genAI initiatives using their enterprise data, a substantial 75% of organisations indicated that scaling these genAI pilots remained a significant challenge. Only 40% of data executives believed their organisations were mature enough in non-technical areas--such as culture, ethical guardrails, governance mechanisms and legal and regulatory frameworks--to effectively harness genAI. In contrast, over half (56%) felt their organisations were mature in technical aspects including data, technology, infrastructure and technical skills.

In 2024, nearly two-thirds of executives agreed that their organisations used activated data to either introduce new products or services or to develop entirely new business models. The report, which is part of the data-powered enterprises series, indicated that while many challenges from four years ago persist, they have become secondary to emerging priorities such as genAI.

Deployment

The report also noted that only 40% of data executives reported having developed the necessary non-technical foundations for genAI. Meanwhile, 56% of executives considered their organisations mature in technical aspects. Additionally, 60% of organisations had launched genAI proofs of concepts based on their enterprise data, yet 75% of data executives identified large-scale deployment as a major challenge. For instance, only 42% of data executives had the data required to effectively train genAI models.

Data masters

Capgemini’s analysis showed that 17% of the surveyed organisations qualified as data masters, achieving higher benefits across data operations, genAI and financial metrics. Among these data masters, 83% demonstrated high effectiveness in quantifying and monetising data assets, compared to 61% of their peers.

Maximising data and AI benefits

To address these challenges and maximise the benefits of data and genAI, Capgemini recommended that organisations take several steps. First, they should define a unified data strategy that integrates business and data executives. They should also enhance data synergy and democratisation across the business to support the scaling of genAI and other data-driven innovations. Implementing a governance framework to support innovations like generative AI and ensure trust in data operations is also essential. Furthermore, organisations should empower employees through upskilling and foster a collaborative culture. Finally, they should prepare for scaling with a focus on business priorities and a unified platform strategy.