Generative Artificial Intelligence (GenAI) is finding its way into every part of business as it becomes more available, accessible and applicable to many people. A solid data strategy and clear goals will be required to take advantage of the opportunities. GenAI (or AI) is indiscriminate with what it speeds up, good or bad, wrong decisions can be made even faster than before AI. In order to protect themselves from risk, businesses must focus on making data findable, accessible, trustworthy, interoperable and reusable, all in a highly secure and privacy-conscious way. Data platforms with a product-thinking mindset provide the most viable foundation for success.
"Data platforms enable businesses to gather data insights, build reliable AI systems, control risk and can also be a key component in creating, managing and enforcing data governance. The latter is one of the biggest challenges many organizations face," said
The five lenses in Looking Glass 2024 report are:
- AI everywhere: The ability to effectively integrate AI to make people better at their jobs will be key to the success of enterprises in the future. Organizations will need to be deliberate about which technologies they can benefit from and how they will be used.
- Realizing value from data and AI platforms: While critical to an AI strategy, a data platform with reliable access to credible, up-to-date data is vital for all enterprises, even those not planning to build GenAI applications in the short term.
- Evolving interactions: With everything from voice interfaces to extended reality, existing solutions are becoming more immersive and seamless. Organizations need to reimagine how they engage with, learn from and delight stakeholders.
- Accelerating physical-digital convergence: Software is a core component of everything from vehicles to home appliances. It's not just organizations with a connection to the physical environment that need to bridge the gap between the real and the virtual — we expect this to affect any organization that is not a pure digital play.
- Responsible tech - a critical consideration: Guardrails around privacy, security and sustainability need to be firmly embedded in an organization’s approach to technology.
Thoughtworks’ Looking Glass is updated on an annual basis to keep pace with the constant shifts in technology possibilities and business priorities. Visit thoughtworks.com/insights/business to stay up to date with the latest business and industry insights for digital leaders.
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