Monthly Archives: November 2021

Heard on the Street – 11/30/2021

Welcome to insideBIGDATA’s “Heard on the Street” round-up column! In this regular feature, we highlight thought-leadership commentaries from members of the big data ecosystem. Each edition covers the trends of the day with compelling perspectives that can provide important insights to give you a competitive advantage in the marketplace.

Trust is our license to operate

Innovation is critical for competitiveness and long-term growth. Companies require agility and flexibility to continue their path to growth. Leaders need to balance the delivery of new products and services while complying with global regulations, and internal policies and procedures. Managing this is challenging enough, but today’s leaders must also anticipate future regulation and governance on new technologies.

At IBM’s recent Chief Data and Technology Officer Summit, “Balancing Innovation and Growth with Risk and Regulation,” we had a great discussion with C-suite leaders on how companies can get ahead of the curve with innovation as regulations continually progress.

Over the last decade, there has been tremendous growth in the regulatory environment globally – from privacy regulations to data localization laws to the Cloud Act, and now cybersecurity and AI regulations. All of these regulations were designed to drive better behaviors and better outcomes. Much of this regulation has been in reaction to the explosion of customer data collection and the growing concerns by consumers that companies and governments aren’t transparent about who has access to their data and how it is being used and protected. In addition, the velocity at which we’ve seen these new technologies be developed and adopted has made it difficult for regulations to keep up. This combination of factors has led to eroding public trust in tech. Without the trust of society, the potential of new technologies to resolve society’s biggest challenges can founder.

Trust is our license to operate  

Trust has become a game-changer. When you become a source of trusted technology, you can innovate and grow, and at the same time, be responsive to risk and regulation. Industry must prove that we can be responsible with new technologies, and that we recognize the importance of protecting personal information and are committed to processing it responsibly and in compliance with applicable data protection laws in all countries in which it operates. IBM’s Principles of Trust & Transparency demonstrate our longstanding commitment to protect client data and take a human-centric approach when bringing technology into the world.

IBM has made trust the cornerstone of our leadership in AI innovation. We feel strongly that we are taking the right steps to build this trust and maintain the highest ethical standards – to put people and their interests at the heart of everything we do – as we work to build a better and more prosperous future.

We will continue to engage stakeholders worldwide as they explore the critical questions posed by the advancement of AI, to ensure its full potential for positive impact can be achieved. We will continue to advocate for Precision Regulation that can strengthen trust without stifling innovation or limiting AI’s potential to help us make the world smarter, healthier, and more sustainable. We’ve called on policy-makers to regulate the end-use of AI, not the technology itself. This will help to ensure regulations are future-proof as technological innovation continues to progress.

Regulation leading to Innovation

Innovation and compliance with regulation can work together. For example, the introduction of the EU General Data Protection Regulation (GDPR) forced many organizations, including IBM, to scale their privacy programs. Although IBM had longstanding processes in place to manage compliance with privacy laws at a local level, the GDPR required a global approach.

To meet this challenge, the IBM Chief Privacy Office and Global Chief Data Office implemented a three-year corporate GDPR Readiness Program that mobilized thousands of resources from across the company. What initially involved a lot of manual work led to automation enabled by AI and intelligent governance workflows. The lessons learned and the technology solutions developed are now helping strengthen our offerings.  IBM Cloud Pak for Data has benefitted from the tech we’ve developed in partnership between our Chief Privacy Office and Chief Data Office, and with that offering we are helping our customers fully understand and manage how sensitive data is used throughout their own organizations.

So for us, this was far more than just a compliance exercise; it was an opportunity to innovate, develop new services and governance frameworks that would facilitate future industry and regulatory compliance efforts at scale. You can read the Case Study here.

At IBM, our value proposition is about bringing trusted innovation to our clients and the world.  Trust is our license to operate.

To hear more from our peers and learn tangible actions that you can customize and implement into your organization, watch the replay of the CDO/CTO Summit “Balancing Innovation and Growth with Risk and Regulation.” Our next event will be on December 8th: 2021 Year-End Recap, CDO Awards and Finale. You can register here.

The post Trust is our license to operate appeared first on Journey to AI Blog.

2022 and Vertical Industry Data — A Sleeping Giant Awakens

simulationIn this contributed article, Steven Schwartz, Chief Operating Officer (COO) of Narrative, believes this coming year will be the one that marketing a company’s data as a viable revenue-generating “product” will gain traction across a myriad of vertical industries. Businesses are looking for ways to expand their revenue lines, and data’s unique attributes make it attractive to sell, from a pure P&L perspective.

World Data League Launches Public Report with the Competition’s Best Solutions and Strategies

The work of more than 100 data scientists, over 14 challenges in line with the 11th United Nations Goal – Sustainable Cities and Communities – is now available for consultation and use through an open report released by the World Data League.

Data Maturity Remains Atop the Leadership Agenda

The Boston Consulting Group released the third iteration of its Data Capability Maturity survey. According to the findings, some organizations are gaining clear advantages from data, while many others continue to fall woefully short of their goals. Participants of this latest survey include more than 1,100 companies worldwide from nine industry verticals – each asked to evaluate their current data maturity performance level and aspirations for the next three years across seven core data capabilities.

2022 Trends in Data Governance: Operational Capabilities

In this contributed article, editorial consultant Jelani Harper discusses how for organizations everywhere—regardless of industry, size, or area of focus—data governance has reached a critical inflection point. It has long been established as a vital area of risk management predicated on achieving regulatory compliance, maintaining data privacy, and ensuring ongoing sustainability of data as an enterprise asset.

87% of US Agriculture Businesses Are Currently Using AI

New research found that agriculture is second only to insurance and exhibitions sectors in scaling its use of AI. The study was carried out by RELX, the parent company of global agricultural data business Proagrica.

The Future of AI is the Edge; Can GPUs Take the Heat?

In this special guest feature, Ludovic Larzul, Founder and CEO, Mipsology, describes how in the future, AI will be everywhere. And though some computation will continue to take place in data centers, more will happen at the edge. There is just no other way for smart consumer devices, smart city applications and autonomous cars to work. As such, application developers must ensure that their designs work as well in the real world as they do in the climate-controlled lab.

insideBIGDATA Latest News – 11/24/2021

In this regular column, we’ll bring you all the latest industry news centered around our main topics of focus: big data, data science, machine learning, AI, and deep learning. Our industry is constantly accelerating with new products and services being announced everyday. Fortunately, we’re in close touch with vendors from this vast ecosystem, so we’re in a unique position to inform you about all that’s new and exciting. Our massive industry database is growing all the time so stay tuned for the latest news items describing technology that may make you and your organization more competitive.

How Edge Analytics could Drive the Next Wave of Digital Transformation

In this contributed article, Gary Ogasawara, Cloudian’s Chief Technology Officer, discusses how edge computing is still a work in progress. The first wave of digital transformation helped IT-focused companies gain a competitive edge. The next wave will extend existing cloud development practices, applications, and data models to the edge to help accelerate the digital transformation for other industries.