There is an immense opportunity now to leverage AI technology to drive revenue growth in businesses. Most businesses are still in the process of figuring out how to leverage AI effectively to achieve their desired outcomes. While this is going on, there is a growing trend towards using AI to automate analytics and insights, particularly in the realm of revenue lifecycle management.

Structured Data and Generative AI

Critical to generative AI is structured data that allows for effective AI utilization. This is a challenge for most organizations - which creates a significant gap between the potential of AI technology and the readiness of organizations to leverage it effectively.

Businesses need to have a solid data foundation in place before incorporating AI into their operations. It becomes critical to clean and structure data so it is ready for use in AI algorithms. Without clean and organized data, AI applications will not be as effective or efficient in delivering insights and driving business outcomes.

Data Interoperability and AI

Data interoperability, meaning that data to be easily exchanged between different teams and technologies within an organization, is is crucial for ensuring that AI can be seamlessly integrated into business processes and systems. By having data in the right structure and format, organizations can better leverage AI to enhance decision-making, automate processes, and drive innovation.

Artificial Intelligence vs. Master Data Management 

While AI can offer powerful capabilities for processing and analyzing data, MDM remains essential for human interaction with data and making critical decisions. AI can complement MDM by automating certain tasks and processes, but it cannot replace the human element of data management.

Overall, data is key for AI to be successful. Organizations must prioritize data quality, structure, and interoperability to maximize the benefits of AI technology. By investing in data management practices and aligning data strategy with AI initiatives, businesses can unlock the full potential of AI for driving revenue growth and competitive advantage in today's digital economy.

About the Author

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Vinny Maurici

VP of Data Engineering

As Vice President of Data Engineering, Vinny is accountable for the growth, success and thought leadership of the Data Management business at Object Edge. He brings 15+ years of master data, merchandising, and governance experience; and has launched several successful enterprise and Fortune 500 global product data programs in B2B Manufacturing and Distribution, Retail, and Food Services.

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