AI Governance

In the era of technology that we currently reside in, disruptive innovations are largely fueled by data, analytics, and AI. These elements are forging new paths across multiple sectors, birthing fresh avenues for revenue, and redefining corporate management paradigms. Consider the projection by McKinsey & Co., which forecasts an addition of over $15 trillion in business value by 2030, solely attributed to analytics and AI. In recognizing this goldmine, global organizations are fervently channeling resources to establish a strong foothold in this data-driven domain. A 2022 survey by NewVantage Partners supports this notion and indicates that a staggering 97% of surveyed entities are amplifying their investments in data-centric and AI initiatives.

However, a significant paradox emerges here. Despite the enormous capital influx, the majority of organizations grapple with extracting tangible benefits from their data endeavors. So, what seems to be the impediment? The...