Alteryx is a customer of Business Reporter.
As companies plan for the coming years, they will face the ongoing struggle of adapting to a rapidly changing environment, which will present a constant challenge for business leaders around the world. However, regardless of what the future holds, making decisions based on data will remain crucial for the success of tomorrow’s businesses. This approach will greatly influence choices by providing valuable insights that drive the creation of innovative solutions, leading to exceptional customer experiences and growth.
AI is no longer just a buzzword, as it is proving to be a valuable tool for businesses. Companies of all sizes are adopting AI, particularly generative AI, to keep up with the constantly evolving landscape. This movement towards AI is also driving significant technological advancements that will shape the operations and success of future enterprises.
This is why business executives are relying on CIOs and IT leaders to provide guidance and develop strategies for their companies to effectively utilize current and upcoming AI capabilities.
The significance of data in the world of business is growing rapidly.
By 2025, the production of worldwide data is expected to reach over 180 zettabytes, making it crucial for businesses to embrace data-driven strategies. However, achieving this requires a modern tech stack designed for the age of intelligence.
Today’s businesses have a high demand for AI and automation, but the truth is that these technologies rely heavily on large amounts of data and complex data pipelines. CIOs and IT leaders are currently evaluating the necessary technologies to revolutionize their approach to using data for decision-making. As generative AI is expected to become an integral part of every aspect of business in the future, this has become a critical consideration.
Technology has a significant impact on the development of future businesses. The continuous increase in data and constantly evolving business world suggest that AI-based automation will continue to be a crucial aspect of future enterprises. According to Alteryx research, 60% of business leaders believe that investing in technology will greatly enhance future productivity, and 61% expect to increase investments in advanced technology in response to the changing market. The challenge lies in utilizing the growing amounts and types of data to create new business prospects and preparing for a more intricate, data-focused future.
Progressive IT executives are already recognizing a clear link between revamping the data management process throughout the entire technology stack and enabling efficient extraction of data value in real-time. According to Alteryx’s findings, digital transformation in regards to artificial intelligence (AI) and machine learning will be the top identifying factor of future businesses, causing a change in tech stack priorities. Generative AI, quantum computing, and machine learning operations (MLOps) are predicted to experience the greatest acceleration in adoption in the coming years.
Providing advanced, AI-compatible corporate evolution.
Although it may feel like only a short while has passed since the pandemic caused many companies to quickly undergo transformation, the emergence of AI-based technologies will revitalize these changes. This is because AI has made it easier to achieve productivity improvements by providing data-driven insights with simple prompts or commands. With numerous AI tools and intelligent systems already in existence, the overarching objective of this transformation is to modernize the process of managing data at all levels.
In order to accomplish this, leaders in the tech industry must be able to drive change and balance the technical requirements of IT with the needs of the business. This involves ensuring that none of the systems and technologies in use cause disruptions or conflicts within the value chain.
There is no one technology that can meet the needs of all businesses when it comes to understanding customer needs, increasing efficiency, and gaining a competitive advantage. In order for technology to facilitate the smooth transfer of data throughout the future tech infrastructure, it is necessary to:
1. Avoid overly complex architectures and tools requiring specific skillsets. Only by empowering the entire workforce to take full advantage of technologies to harness and compute the data, and establish the automation resources available, will you unlock the full potential of the future tech stack and ensure it delivers ROI by driving business value across the entire organisation.
2. Develop the ability to recognize attractive, eye-catching trends that may seem appealing but ultimately won’t be effective. Avoid investing in a collection of tools that are not tailored for business use. If it disrupts the flow of value and causes problems due to a break in the technology or missing functionality, it can hinder progress and result in financial losses, wasted time, and missed opportunities for innovation.
Invest in platforms that allow for multiple identities, unlimited applications, and the ability to add new features. These are crucial in minimizing expenses, increasing return on investment, and ensuring long-term viability of investments.
Search for technologically advanced and secure platforms that can accommodate AI, with a focus on data quality and governance that meets the requirements of IT. Offer an easy-to-use interface for artificial intelligence and natural language processing, allowing all users to run data quality checks, detect potential abnormalities, and efficiently standardize data according to established rules. This will provide the necessary insights for businesses to make speedy and confident decisions, even in urgent situations.
At Alteryx, we are constantly incorporating AI advancements into our Alteryx Analytics Cloud Platform via AiDIN. This allows for support of various roles, limitless applications, and potential for future enhancements. Our unique and robust multi-modal approach to AI-powered analytics allows every user to utilize their preferred tools to create collaborative and real-time insights, from simple chat prompts to no-code workflows and code-friendly Python and SQL notebooks. These can all be automatically translated by generative AI into one comprehensive analytical solution, benefiting the entire organization at a large scale.
Discover more about how the Alteryx Analytics Cloud Platform serves as the data organization layer for almost half of the top 2000 enterprises worldwide. This ensures that businesses have the appropriate analytics, IT controls, and security measures in place to meet the increasing needs of data, automation, and generative AI.
Trevor Schulze, Chief Information Officer, Alteryx
Schulze, the Chief Information Officer at Alteryx, is responsible for leading the worldwide IT team in providing a wide range of technology services and solutions that are driven by business needs. He encourages teams around the world to think creatively and implement solutions to challenging business issues, while also taking advantage of emerging market opportunities. His main goal is to drive business transformation through innovative operational and technological initiatives, while also bringing highly acclaimed products to the market.
Prior to becoming a member of Alteryx, Schulze held the position of Chief Information Officer at RingCentral. In this role, he oversaw a diverse team that was in charge of establishing the company’s IT strategy and revamping its operational procedures to align with the objectives of expansion and success.
Source: independent.co.uk
