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Six Data Quality Dimensions to Get Your Data AI-Ready
If you look at Google Trends, you’ll see that the explosion of searches for generative AI (GenAI) and large language models correlates with the introduction of ChatGPT back in November 2022. GenAI has brought hope and promise for those who have the creativity and innovation to dream big, and many have formulated impressive and pioneering […]


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Author: Allison Connelly

Crossing the Data Divide: AI Data Assistants — A Data Leader’s Force Multiplier
The focus of my last column, titled Crossing the Data Divide: Data Catalogs and the Generative AI Wave, was on the impact of large language models (LLM) and generative artificial intelligence (AI) and how we disseminate knowledge throughout the enterprise and the future role of the data catalogs. Spoiler alert if you have not read […]


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Author: John Wills

How Artificial Intelligence Will First Find Its Way Into Mental Health


Artificial intelligence (AI) startup Woebot Health made the news recently for some of its disastrously flawed artificial bot responses to text messages that were sent to it mimicking a mental health crisis. Woebot, which raised $90 million in a Series B round, responded that it is not intended for use during crises. Company leadership woefully […]

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Author: Bruce Bassi

Getting Ahead of Shadow Generative AI


Like any new technology, a lot of people are keen to use generative AI to help them in their jobs. Accenture research found that 89% of businesses think that using generative AI to make services feel more human will open up more opportunities for them. This will force change – Accenture also found that 86% […]

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Author: Dom Couldwell

How to Effectively Prepare Your Data for Gen AI

Many organizations are prioritizing the deployment of generative AI for a number of mission-critical use cases. This isn’t surprising. Everyone seems to be talking about Gen AI, with some companies now moving forward with various applications.

While company leaders may be ready to unleash the power of Gen AI, their data may not be as ready. That’s because a lack of proper data preparation is setting up many organizations for costly and time-consuming setbacks.

However, when approached correctly, proper data prep can help accelerate and enhance Gen AI deployments. That’s why preparing data for Gen AI is essential, just like for other analytics, to avoid the “garbage in, garbage out” principle and to prevent skewed results.

As Actian shared in our presentation at the recent Gartner Data & Analytics Summit, there are both promises and pitfalls when it comes to Gen AI. That’s why you need to be skeptical about the hype and make sure your data is ready to deliver the Gen AI results you’re expecting.

Data Prep is Step One

We noted in our recent news release that comprehensive data preparation is the key to ensuring generative AI applications can do their job effectively and deliver trustworthy results. This is supported by the Gartner “Hype Cycle for Artificial Intelligence, 2023” that says, “Quality data is crucial for generative AI to perform well on specific tasks.”

In addition, Gartner explains that “Many enterprises attempt to tackle AI without considering AI-specific data management issues. The importance of data management in AI is often underestimated, so data management solutions are now being adjusted for AI needs.”

A lack of adequately prepared data is certainly not a new issue. For example, 70% of digital transformation projects fail because of hidden challenges that organizations haven’t thought through, according to McKinsey. This is proving true for Gen AI too—there are a range of challenges many organizations are not thinking about in their rush to deploy a Gen AI solution. One challenge is data quality, which must be addressed before making data available for Gen AI use cases.

What a New Survey Reveals About Gen AI Readiness

To gain insights into companies’ readiness for Gen AI, Actian commissioned research that surveyed 550 organizations in seven countries—70% of respondents were director level or higher. The survey found that Gen AI is being increasingly used for mission-critical use cases:

  • 44% of survey respondents are implementing Gen AI applications today.
  • 24% are just starting and will be implementing it soon.
  • 30% are in the planning or consideration stage.

The majority of respondents trust Gen AI outcomes:

  • 75% say they have a good deal or high degree of trust in the outcomes.
  • 5% say they do not have very much or not much trust in them.

It’s important to note that 75% of those who trust Gen AI outcomes developed that trust based on their use of other Gen AI solutions such as ChatGPT rather than their own deployments. This level of undeserved trust has the potential to lead to problems because users do not fully understand the risk that poor data quality poses to Gen AI outcomes in business.

It’s one issue if ChatGPT makes a typo. It’s quite another issue if business users are turning to Gen AI to write code, audit financial reports, create designs for physical products, or deliver after-visit summaries for patients—these high value use cases do not have a margin for error. It’s not surprising, therefore, that our survey found that 87% of respondents agree that data prep is very or extremely important to Gen AI outcomes.

Use Our Checklist to Ensure Data Readiness

While organizations may have a high degree of confidence in Gen AI, the reality is that their data may not be as ready as they think. As Deloitte notes in “The State of Generative AI in the Enterprise,” organizations may become less confident over time as they gain experience with the larger challenges of deploying generative AI at scale. “In other words, the more they know, the more they might realize how much they don’t know,” according to Deloitte.

This could be why only four percent of people in charge of data readiness say they were ready for Gen AI, according to Gartner’s “We Shape AI, AI Shapes Us: 2023 IT Symposium/Xpo Keynote Insights.” At Actian, we realize there’s a lot of competitive pressure to implement Gen AI now, which can prompt organizations to launch it without thinking through data and approaches carefully.

In our experience at Actian, there are many hidden risks related to navigating and achieving desired outcomes for Gen AI. Addressing these risks requires you to:

  • Ensure data quality and cleanliness
  • Monitor the accuracy of training data and machine learning optimization
  • Identify shifting data sets along with changing use case and business requirements over time
  • Map and integrate data from outside sources, and bring in unstructured data
  • Maintain compliance with privacy laws and security issues
  • Address the human learning curve

Actian can help your organization get your data ready to optimize Gen AI outcomes. We have a “Gen AI Data Readiness Checklist” that includes the results of our survey and also a strategic checklist to get your data prepped. You can also contact us and then our experts will help you find the fastest path to the Gen AI deployment that’s right for your business.

The post How to Effectively Prepare Your Data for Gen AI appeared first on Actian.


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Author: Actian Corporation

Creative Ways to Surf Your Data Using Virtual and Augmented Reality
Organizations often struggle with finding nuggets of information buried within their data to achieve their business goals. Technology sometimes comes along to offer some interesting solutions that can bridge that gap for teams that practice good data management hygiene. We’re going to take a look deep into the recesses of creativity and peek at two […]


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Author: Mark Horseman

Legal Issues for Data Professionals: AI Creates Hidden Data and IP Legal Problems
As data has catapulted to a new and valuable business asset class, and as AI is increasingly used in business operations, the use of AI has created hidden data and IP risks. These risks must be identified and then measures must be taken to protect against both a loss of rights and an infringement of […]


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Author: William A. Tanenbaum

The AI Trust Gap: A Psychological Perspective

Only 52% of employees are confident their organization will ensure AI is implemented in a responsible and trustworthy way, according to Workday’s Closing the AI Trust Gap report. Trust will be key to getting employees engaged in the change needed to realize AI’s full potential. In my last post I looked at what can be done from a cultural perspective. In this […]

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Author: Dan Everett

7 Ways AI Will Transform Data Storage


The rapid adoption of artificial intelligence and machine learning (AI/ML) over the past year has transformed just about everything – ushering in a new era of innovation and growth the world has never seen. The same goes for data storage, where the technologies’ impact will be transformative, enabling greater business agility that companies need to […]

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Author: Scott Hamilton

AI Could Save Your Data Governance Program, but It’s Unlikely
In the 1980s, there was a flurry of movies about robots coming to imprison or terrorize humanity. Forty years later, almost every business and technology publication seems to have reimagined the army of robots and artificial intelligence as trading their quest for world domination for the exciting world of business processing. It’s unlikely that most […]


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Author: Carmen Robinson

Explainable AI: 5 Open-Source Tools You Should Know
Explainable AI refers to ways of ensuring that the results and outputs of artificial intelligence (AI) can be understood by humans. It contrasts with the concept of the “black box” AI, which produces answers with no explanation or understanding of how it arrived at them. Explainable AI tools are software and systems that provide transparency […]


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Author: Gilad David Maayan

How AI Tools Like Conversational Intelligence Improve Healthcare Customer Journeys


According to a recent report, a continuous loop of disruptions impacts 20% of customer interactions in healthcare, with nearly half of these disruptions delaying or preventing patient care. However, organizations using conversational intelligence to listen to and analyze the voice of the customer (VOC) are realizing benefits, citing a 25% increase in first-call resolution rates and […]

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Author: Amy Brown

Data Speaks for Itself: Is AI the Cure for Data Curation?
By now, it is clear to everyone that AI, especially generative AI, is the only topic you’re allowed to write about. It seems to have impacted every area of information technology, so, I will try my best to do my part. However, when it comes to data curation and data quality management, there seems to […]


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Author: Dr. John Talburt

2024 Predictions in AI and Natural Language Processing (NLP)


While we were right at the dawn of generative AI this time last year, we didn’t predict quite the profound impact and seismic shift it would create around the world with the introduction of ChatGPT. In our set of 2023 predictions, we did note the potential effect of LLMs, with research showing their ability to self-improve, […]

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Author: Jeff Catlin and Paul Barba

The Evolution of Data Validation in the Big Data Era
The advent of big data has transformed the data management landscape, presenting unprecedented opportunities and formidable challenges: colossal volumes of data, diverse formats, and high velocities of data influx. To ensure the integrity and reliability of information, organizations rely on data validation. Origins of Data Validation Traditionally, data validation primarily focused on structured data sets. […]


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Author: Irfan Gowani

The Promise and Potential of Human-Like Generative AI Chatbots


They’ve passed SATs, graduate records exams, and medical licensing exams, and programmers have used them to solve obscure coding challenges in seconds. Undoubtedly, generative AI chatbots’ capabilities are astounding, but this doesn’t mean they get it right every time.  Despite their success in providing contextually relevant and, for the most part, accurate answers, can generative […]

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Author: Nate MacLeitch

Responsible-First AI Governance: Addressing Ethical Concerns for Scalable Adoption


The world of artificial intelligence (AI) is evolving rapidly, bringing both immense potential and ethical challenges to the forefront. In this context, it is essential to remember that intelligence, when misused, can be graver than not having it at all. As AI technologies scale and become increasingly influential in various sectors, responsible governance becomes paramount […]

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Author: Rajsekhar Datta Roy

5 Tactics for Adaptive, Impactful, and Ethical AI


In an era defined by a surge in technological advancements, artificial intelligence (AI) stands out as a transformative force with the potential to reshape industries, enhance human capabilities, and solve complex problems. However, as AI becomes increasingly integrated into our lives, it’s essential to develop strategies that ensure its long-term viability and ethical use. Concerns […]

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Author: Don Delvy

Transforming Data Management with AI-Driven Data Catalogs


In today’s data-driven world, where every byte of information holds untapped potential, effective Data Management has become a central component of successful businesses. The ability to collect and analyze data to gain valuable insights is the basis of informed decision-making, innovation, and competitive advantage. According to recent research by Accenture, only 25% of organizations are […]

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Author: Gaurav Sharma

AI at the Edge: Creating a Successful Strategy


The recent hype surrounding AI makes every organization feel like they must rethink their strategy to ensure they are aligned with the market expectations and not let the competition gain an advantage. AI has been in the news for a while, but when ChatGPT was introduced, people outside of business started to explore the technology […]

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Author: Sathish Kumar Sampath

Semantic Web and AI: Empowering Knowledge Graphs for Smarter Applications


Data is the cornerstone of innovation in today’s highly digital world. However, in its raw state, data isn’t very useful as it lacks meaning and context. This is where the Semantic Web comes in – it provides a framework that imbues data with meaning, allowing machines to understand and process it just as humans do.  […]

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Author: Nahla Davies

Why Master Data Management (MDM) and AI Go Hand in Hand


Organizations have long struggled with the “eternal data problem” – that is, how to collect, store, and manage the massive amount of data their businesses generate. This problem will become more complex as organizations adopt new resource-intensive technologies like AI and generate even more data. By 2025, the IDC expects worldwide data to reach 175 zettabytes, more […]

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Author: Brett Hansen

AI Personalization: Challenges and Practical Strategies for Startups


Personalization is an effective way to drive revenue growth, increase customer engagement, and enhance customer satisfaction. According to a survey by Accenture, 91% of consumers are more likely to shop with brands that recognize, remember, and provide relevant offers and recommendations. In recent years, businesses have recognized the value of personalization in improving customer experience by leveraging […]

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Author: Rohan Singh Rajput

Unleashing the Power of AI and ML in Data


In today’s insight-informed world, businesses of all sizes need to be able to access and analyze their data in order to make informed decisions. However, data is often siloed in different systems and difficult to access, making it challenging for businesses to get the insights they need. The demand for help to streamline these operations […]

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Author: Justin Kearney

The Benefits of Generative AI for Banking & Financial Leaders

Generative AI is a subset of Artificial Intelligence (AI) that focuses on creating artificial data or content. It uses deep learning algorithms to generate images, videos, or audio based on the data given to it. Instead of learning from data, generative AI creates brand-new data.

Generative AI is transforming data analytics in the financial services industry, presenting new opportunities to enhance customer service, increase revenue, improve security, reduce risks, optimize investments and strategic planning, and more. Here are some common uses and benefits of generative AI in financial services:

Chatbots: Banks can use generative AI to create chatbots that mimic human conversation through text or voice interactions. Using chatbots can improve customer service, cut costs, and boost revenue.  For example, chatbots can save banks money by automating routine customer service functions such as answering questions about account balances and performing routine tasks such as making transfers and sending messages. More advanced uses include providing personalized recommendations and sales based on a customer’s history and activity.

Fraud Detection and Prevention: Generative AI is supplementing traditional fraud analytics with models that can identify abnormal patterns in large volumes of financial transactions so that financial institutions can halt suspicious transactions faster. Financial companies are also using generative AI to create synthetic data that simulates fraud so they can develop more robust fraud detection algorithms.

Anti-Money Laundering: Using generative AI to analyze large volumes of financial data such as transactions, accounts, customer profiles, and company information. Know Your Customer (KYC) data can identify patterns and anomalies that may indicate money laundering activities.

Credit Risk Assessment: Generative AI models can determine credit risk more accurately and much faster by analyzing vast amounts of data, including financial statements, credit scores, transaction histories, and other relevant data. This can lead to better lending decisions that reduce credit risk.

Credit Reporting: Companies in the financial services industry can use generative AI to automatically create credit reports and other financial documents. This can streamline loan application and approval processes, reducing paperwork and improving efficiency.

Algorithmic Trading: Traders can use generative AI to potentially achieve higher returns. Generative AI helps develop trading algorithms that produce trading signals for when to buy or sell a security and that predict market movements.

Portfolio Management: Generative AI can help optimize portfolio allocations by generating asset combinations and simulating their performance. Portfolio managers can use this information to build efficient portfolios based on criteria such as risk tolerance and return objectives.

Asset Management: Businesses can use generative AI to analyze market data and forecast asset prices, interest rates, and other economic trends. This information is valuable for making investment decisions and managing financial assets. Generative AI excels in analyzing unstructured data, such as social media sentiments and news articles to help investment managers gain insights into investor perceptions and market shifts.

Strategic Planning: A company in financial services can leverage generative AI to develop predictive models for financial metrics such as customer churn, account balances, and revenue. Better forecasts of these metrics can improve strategic planning and resource allocation.

Generative AI and the Actian Data Platform

Generative AI is a versatile tool that presents many opportunities for data analytics within the financial service industry. However, generative AI requires the right data platform to be successful. The Actian Data Platform is the first as-a-service solution to unify analytics, transactions, and integration. Its flexible cloud, on-premises, and hybrid cloud architecture brings you trusted, real-time insights, making it easier to get from data source to decision with confidence. The Actian platform’s low, no-code integration with data quality and transformation options make it easier and more flexible to address more generative AI needs/use cases.

The post The Benefits of Generative AI for Banking & Financial Leaders appeared first on Actian.


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Author: Teresa Wingfield