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New Generative AI Features from Square Give Powerful Technology to All Businesses

New Generative AI Features from Square Give Powerful Technology to All Businesses

ecommerce and mobile ecommerce 19 Oct 2023

Nearly a dozen new Square tools seamlessly integrate generative AI to offer an intuitive helping hand to businesses of all sizes

Today, Square announced 10 new generative AI features that sellers can use now to automate operations, speed up workflows, and regain time. These tools are directly integrated into Square’s powerful business software and provide the company’s millions of sellers with an extra set of hands to help them juggle the multifaceted demands that come with running a business.

Earlier in 2023, Square made generative AI a key business priority, with the aim of providing sellers with generative AI-powered tools that enable them to benefit from the time and cost savings promised by this new wave of technology. Today’s launch marks a major step toward delivering against that goal, and not only putting real, tangible products into the hands of sellers, but also delivering that value across the Square ecosystem, no matter which product – or combination of products – a seller uses.

Key new generative AI-powered features include:

  • Menu Generator: Restaurants can now create a full menu on Square in just a few minutes with just a few clicks, giving them – or any business looking to expand into food and drink offerings – valuable momentum and time-savings when launching operations on Square.
  • Photo Environments: E-commerce sellers can now add hyperreal AI-generated backgrounds and choose from more than 50 style prompts with the latest version of the Photo Studio app, helping them elevate their websites and attract more customers. Since July 1, while in beta, sellers have created and saved over 14,000 AI Environment images.

"As a one-woman small business, any tools that can save me time or money are tremendously helpful," said Carissa Smith, owner of small batch candle store Fuddy Duddy Co. in Merriam, Kansas. "Square's Photo Studio app has helped me on both fronts as I've transitioned to selling online. Instead of spending hundreds of dollars on props and backdrops, and hours of time staging my inventory, I was able to use the app's new AI environments to quickly bring my catalog to life with backgrounds that fit the themes of my various products."

More new Square tools help sellers with content creation, providing them AI-generated content for their public sites, item descriptions, and marketing content:

  • Personalized email copy: To make email marketing easier, Square Marketing now offers integrated AI to generate personalized email copy, taking the guesswork – and time commitment – out of subject lines and content optimization.
  • Team announcements: To inform staff more efficiently, employers using Square Team Communication can now quickly generate and send out team announcements to let employees know about new products, upcoming promotions, and more using AI-generated copy, with a choice of topic, length, and tone.
  • Website copy generator: To lend a hand with short- or long-form website copy, Square Online’s AI-assisted copy generator helps sellers save time, level up their websites, and boost SEO – from set-up to refresh, and headlines to blog posts.
  • Suggested replies: To enhance direct messaging with buyers, sellers using Square Messages now have even more sophisticated AI responses, with the ability to personalize messages to buyers with suggested replies that prepopulate names to enrich correspondences.

Whether setting up a business from scratch or switching over to Square, AI-enabled tools focused on onboarding & set-up help sellers get their accounts and catalogs activated in a way that gives them time back and lowers the barrier to entry:

  • Auto-generated library: Square Point of Sale’s new AI-powered starter library suggests items for sellers to adopt based on insights about their business. In just a few clicks, sellers can get up, running, and selling. By easily setting up their catalogs and configuring items for sale, Square saves sellers valuable start-up time and removes the need to start from scratch.
  • Auto-imported services: Square Appointments has made it easier than ever to switch booking platforms. No matter how many services a salon or spa offers, they can now use AI to automatically import service names, descriptions, durations, and prices during onboarding to get up and running faster.

With a focus on operational efficiency, these new features give sellers powerful tools to increase productivity and optimize their workflows, so they can focus on making more sales:

  • Kitchen categories: In restaurants, even kitchen operations can be optimized with AI – now, Square KDS can auto-assign menu items to kitchen categories and station screens to create smooth workflows for back-of-house staff. Restaurant managers can keep menus and operations up to date by editing and saving catalogs with just a few clicks, expediting the process of getting orders fired.
  • Item descriptions: Sellers running any Square Point of Sale software can now set up and manage their catalog with ease. With compelling, auto-written product descriptions, sellers gain more efficiency in their operations by adding new inventory quicker and getting them ready to sell – allowing them to focus on attracting more buyers, faster – across all their integrated selling channels.

“Square is uniquely positioned to be the technology partner that enables the most seamless, intuitive applications of AI. Our goal is to help businesses of all sizes scale their operations and take advantage of these new innovations,” said Saumil Mehta, Head of Point of Sale and Omnichannel at Square. “We’ve long been differentiated by the depth and breadth of our integrated ecosystem, and bringing generative AI into our products continues to put Square and its sellers at the forefront of technology.”

Anova.ai Introduces the First Marketing Analytics Platform Powered by Generative AI and Purpose-Built for SMBs

Anova.ai Introduces the First Marketing Analytics Platform Powered by Generative AI and Purpose-Built for SMBs

analytics 19 Oct 2023

Marketers can now converse with their data in natural language to get timely insights without needing any technical skills or resources

Anova.ai debuts today with the first marketing analytics platform powered by generative AI and purpose-built for small to medium-sized businesses (SMBs). Marketing teams can now talk to their data in natural language and get results instantly, all without needing any technical skills or resources. This competitively priced tool is specifically designed to serve the needs of marketers and can be fully operational in minutes, increasing speed-to-insight and accelerating decision-making.

Marketers are often forced to navigate complicated UIs or rely on technical teams to provide the data they need, which causes delays that can span days, weeks, and sometimes even months. Imagine the wasted time and opportunities.

Now imagine if you could talk to your data and get answers immediately. Anova is making that a reality, allowing marketing teams to converse with data in real-time, save queries for ongoing analysis, and create custom visualizations — just a few examples of how you can be truly self-sufficient and empowered by data with their platform.

"We're really excited to unveil Anova and bring the power of generative AI to marketing analytics." says Kunick Kapadia, co-founder and CEO at Anova.ai. "My brother and I have been running a marketing agency specialized in analytics for nearly a decade, so when generative AI exploded onto the scene, we realized we could harness the power of this technology to solve a critical challenge marketing teams face every day, accessing their data on their terms."

Anova is setting a new standard for marketing analytics with these distinguishing benefits:

  • Industry-Specific Focus
  • Easy to Use 
  • Seamless Collaboration
  • Competitively Priced for SMBs

This is just the beginning for Anova, as their plans expand beyond just natural language querying.

"We're excited about the impact AI will have on the landscape, which is why we've built Anova to be flexible and scalable." says Neelam Kapadia, co-founder and CTO at Anova.ai. "We see our platform revolutionizing the entire analytics lifecycle, from data ingestion to generating insights to predicting performance. We're already working on some exciting features and can't wait to put them in the hands of our users."

Narrative Unveils an Advanced AI Team to Amplify the Power of Rosetta: Revolutionizing Data Collaboration

Narrative Unveils an Advanced AI Team to Amplify the Power of Rosetta: Revolutionizing Data Collaboration

artificial intelligence 19 Oct 2023

Building on the groundbreaking success of Rosetta, Narrative's AI-powered Data Collaboration Assistant, the company today introduced an expansive ecosystem of AI assistants to shape the future of data collaboration. With Rosetta at the helm as the Chief Data Collaboration Officer, this dynamic team will drive unparalleled capabilities, ensuring swifter response times and a revolutionary collaborative experience.

"Rosetta was the initial step in evolving how businesses access and interpret data," says Tim Mahlman, Narrative's CEO. "The addition of her specialized team members pushes us leaps and bounds further. This initiative isn't merely about faster data solutions; it's about simulating a bustling corporate ecosystem where AI-powered tools collaborate seamlessly to solve complex challenges."

Data Collaboration in Enterprises: It Takes More Than One

In the intricate world of enterprise data collaboration, the old adage rings true – it often "takes a village." Collaboration complexities necessitate diverse expertise, mirroring the multifaceted teams that exist within large organizations. The Rosetta team replicates this dynamic, ensuring that different facets of data collaboration are managed by dedicated specialists. These AI entities mimic the multiple roles and responsibilities seen in corporate data teams, but with the added advantages of being available round-the-clock and being immune to human limitations.

This streamlined approach considerably boosts the speed and quality of data processing, offering users a nuanced and tailored experience. And for those multifaceted tasks, Rosetta's team will collaborate, pooling their unique capabilities to produce comprehensive data outcomes.

24/7 Data Collaboration with Unwavering Precision

One of the crowning advantages of Rosetta and her team is their relentless dedication to service, being tirelessly available 24/7, 365 days a year. This continuous, unwavering efficiency ensures that businesses have constant access to crucial data insights. Beyond mere availability, the precision and reliability of their data processing are always maintained at the highest standards.

Importantly, this non-stop AI-driven support means that human teams can elevate their focus. Freed from the weeds of routine data tasks, they can channel their expertise into higher-value roles and strategic initiatives, thereby driving significant organizational growth and innovation. It's not just about working harder, but smarter, allowing human creativity and strategic thinking to flourish while the AI handles the heavy lifting.

Narrative's latest venture underscores its dedication to refining data collaboration. While Rosetta paved the way, her dedicated team promises to revolutionize the depth, scope, and speed of data interaction. With the complexities of today's data world, having a robust, untiring team ready to handle diverse challenges is not just a luxury—it's a necessity.

IBM Expands Relationship with AWS to Bring Generative AI Solutions and Dedicated Expertise to Clients

IBM Expands Relationship with AWS to Bring Generative AI Solutions and Dedicated Expertise to Clients

artificial intelligence 19 Oct 2023

-  Delivering joint solutions upgraded with generative AI capabilities for critical uses cases

-  Providing clients with dedicated AWS expertise and plans to train and skill 10,000 consultants

-  Plans for further integration of IBM watsonx with AWS

IBM (NYSE: IBM) today announced an expansion of its relationship with Amazon Web Services (AWS) to help more mutual clients operationalize and derive value from generative artificial intelligence (AI). As part of this, IBM Consulting aims to deepen and expand its generative AI expertise on AWS by training 10,000 consultants by the end of 2024; the two organizations also plan to deliver joint solutions and services upgraded with generative AI capabilities designed to help clients across critical use cases.

IBM Consulting and AWS already serve clients across a variety of industries with a range of AI solutions and services. Now, the companies are enhancing those solutions and services with the power of generative AI designed to help clients integrate AI quickly into business and IT operations building on AWS. IBM Consulting and AWS plan to start with these specific solutions:

  • Contact Center Modernization with Amazon Connect – IBM Consulting worked with AWS to create summarization and categorization functions for voice and digital interactions using generative AI, which are designed to allow for transfers between the chatbot and live agent and provide the agent with summarized details that expedite resolution times and improve quality management.
  • Platform Services on AWS – Initially introduced in November 2022, this offering is newly upgraded with generative AI to better manage the entire cloud value chain including IT Ops, automation, and platform engineering. The new generative AI capabilities give clients tools to enhance business serviceability and availability for their applications hosted on AWS through intelligent issue resolution and observability techniques. Clients can expect an improvement of uptime and mean time repair which means they can act quickly and effectively to potential issues that arise.
  • Supply Chain Ensemble on AWS – This planned offering will introduce a virtual assistant that can help accelerate and augment the work of supply chain professionals as they aim to deliver on customer expectations, optimize inventories, reduce costs, streamline logistics, and assess supply chain risks.

Additionally, for clients looking to modernize on AWS, IBM Consulting plans to integrate AWS generative AI services into its proprietary IBM Consulting Cloud Accelerator to help accelerate the cloud transformation process. This will help with reverse engineering, code generation and code conversion.

Commitment to deepening expertise and expanding AWS on watsonx integration
IBM has already built extensive expertise with AWS's generative AI services including Amazon SageMaker and Amazon CodeWhisperer, and is one of first AWS Partners to use Amazon Bedrock, a fully managed service that makes industry-leading foundation models (FMs) available through an API, so clients can choose the model that's best suited for their use case.

AI expertise and a deep understanding of AWS capabilities are critical for clients looking to implement generative AI, and IBM is already providing mutual clients with access to professionals from IBM Consulting's Center of Excellence for Generative AI with specialized generative AI expertise.

With today's news, IBM Consulting plans to train and skill 10,000 consultants on AWS generative AI services by end of 2024. They will have access to an exclusive, partner-only program that provides training on the top use cases and best practices for client engagement with AWS generative AI services. This will help advance their knowledge, allow them to engage with technical professionals and better serve clients innovating on AWS.

"Enterprise clients are looking for expert help to build a strategy and develop generative AI use cases that can drive business value and transformation – while mitigating risks," said Manish Goyal, Senior Partner, Global AI & Analytics Leader at IBM Consulting. "Paired with IBM's AI heritage and deep expertise in business transformation on AWS, this suite of reengineered solutions with embedded generative AI capabilities can help our mutual clients to scale generative AI applications rapidly and responsibly on their platform of choice."

IBM is also responding to client demand for generative AI capabilities on AWS by making watsonx.data, a fit-for-purpose data store built on an open lakehouse architecture, available on AWS as a fully managed software-as-a-service (SaaS) solution– which clients can also access in AWS Marketplace. The company also plans to make watsonx.ai and watsonx.governance available on AWS by 2024. This builds on previous commitments made by the two companies to make it easier for clients to consume IBM data, AI and security software on AWS.

"Our customers are increasingly looking for the technical support and AI expertise they need to build and implement a generative AI strategy that drives business value from their entire cloud value chain," said Chris Niederman, Managing Director, Global Systems Integrators at AWS. "We are excited to be working with IBM to include embedded generative AI capabilities that assist our mutual customers scale their applications – and help IBM consultants deepen their expertise on best practices for customer engagement with AWS generative AI services."

Generative AI at scale for telecommunications
Clients are already benefitting from the longstanding relationship between IBM and AWS. Bouygues Telecom, a leading French communications service provider with a history of industry-leading innovation, engaged IBM Consulting to support the company's evolving cloud strategy to explore, design and implement AI use cases at scale while giving teams flexibility to select cloud and AI providers based on departmental and application needs.

Leveraging the IBM Garage approach, the team co-designed a custom data and AI reference architecture covering multiple cloud scenarios that can extend to all AI and data projects across Bouygues Telecom's cloud and on-premises platforms.

"As we sought to leverage generative AI to extract insights from our engagements with clients, we were confronted with some unfamiliar issues around storage, memory size and power requirements," said Matthieu Dupuis, Head of AI for Bouygues Telecom. "IBM Consulting and AWS have been invaluable partners in identifying the right model for our needs and overcoming these technological barriers."

With the new AI platform on AWS, IBM Consulting enabled Bouygues Telecom to develop proof-of-concept models and scale them into production quickly while helping to minimize costs and risks. The platform also enables their data scientists to work with greater efficiency, purpose, and satisfaction by allowing them to spend more time on complex, high-value AI projects rather than launching standalone solutions.

An evolving relationship
With over 40 years of combined experience on AI solutions, IBM and AWS have been working together to respond to clients who are looking to leverage AI for cost, efficiency, and growth, whether they are looking for a demonstration of the technology, defining potential use cases or full co-creation of bespoke solutions.

Additionally, IBM is an AWS Premier Tier Services Partner with over 22,000 AWS certifications globally and has achieved 17 AWS Service Delivery and 16 AWS Competency designations. Today's news builds on this longstanding relationship and a shared value of the importance of enterprise AI. Getting to enterprise AI at scale requires a human-centric, principled approach, and IBM Consulting helps clients establish guardrails that align with the organization's values and standards, mitigate bias and manage data security, lineage, and provenance.

IBM Consulting accelerates business transformation for our clients through hybrid cloud and AI technologies, leveraging our open ecosystem of partners. With deep industry expertise spanning strategy, experience design, technology, and operations, we have become the trusted partner to many of the world's most innovative and valuable companies, helping modernize and secure their most complex systems. Our 160,000 consultants embrace an open way of working and apply our proven co-creation method, IBM Garage, to scale ideas into outcomes.

Statements regarding IBM's future direction and intent are subject to change or withdrawal without notice, and represent goals and objectives only.

LifeStreet Launches New AI Creative Solution for In-App Ad Personalization

LifeStreet Launches New AI Creative Solution for In-App Ad Personalization

artificial intelligence 19 Oct 2023

LifeStreet, a leader in mobile marketing, announced today its latest solution to maximize return on ad spend (ROAS) for performance marketers. Nero Dynamic Creatives improves the effectiveness of in-app advertising by testing, analyzing, and deploying a limitless number of AI-generated creative combinations across numerous audience segments. Through real-time creative analysis, advertisers can now make immediate connections between creative elements (headlines, images, CTAs, etc.) and users’ actions, ensuring that the optimal creative is always being served.

This release builds on technological advancements made to LifeStreet’s media buying platform, Nero, launched in 2022. Powered by LifeStreet’s machine learning (ML) predictive models, performance marketers use Nero’s custom bidding strategies to dynamically adjust bids based on how likely an impression is to meet an advertiser’s objectives. If the Nero platform wins the bid, then the creative optimization model uses data from tens of millions of impressions to predict the creative combination most likely to drive a target event. For any impression in any app, the best creative combination is chosen, and the ad is rendered in real time by LifeStreet’s ad server.

While generative AI offers tremendous efficiencies of scale for content production, creative modeling and testing has not kept pace. By combining Nero’s comprehensive toolset and generative AI technology, Nero Dynamic Creatives bridge the gap between the transformative potential of AI-generated content and the need for cost-effective, scalable in-app ad personalization.

Key features of Nero Dynamic Creatives include:

  • AI-Generated Content: Using the power of generative AI, such as Midjourney’s image generation or OpenAI’s Large Language Models, advertisers can massively scale content creation for personalized dynamic ads that are contextually tailored to the app environment.
  • Dynamic Decisioning: Nero's robust machine learning models predict the best AI-generated content combination for each impression in any app. Preliminary tests have shown an average 30% performance lift in ads generated by Nero Dynamic Creatives compared to non-personalized ads.
  • "Nativized" Ad Formats: Imitating the style of native ads, advertisers can provide a seamless visual experience across a larger inventory pool without the technical complexities of trafficking native ad formats.

“We're entering an era where content creation is becoming more cost-effective, even approaching zero marginal cost. Finding ways to leverage this new paradigm to maximize ad efficiency was the driving force behind Nero Dynamic Creatives,” said Levi Matkins, LifeStreet CEO. “When dealing with thousands of apps and an incredibly diverse audience of billions of users, there is no single best ad. Instead, advertisers need to use these new tools to push the boundaries of what is possible for the customer experience and continued growth.”

Nero Dynamic Creatives is a powerful tool for performance marketers seeking to expand their reach and drive ROAS through in-app advertising. It is currently available to all advertisers working with LifeStreet.

New NextGen Strategic Alliance to Expedite Digital Transformation for Measurable Growth

New NextGen Strategic Alliance to Expedite Digital Transformation for Measurable Growth

digital transformation 19 Oct 2023

A partnership facilitated by NexGen with Resulticks and Couch & Associates will provide innovative products and services to the growing number of enterprises investing in digital transformation.

A Next-Gen Holdings, a global technology company, announced today that it has facilitated a strategic partnership with Resulticks, the award-winning customer engagement solutions innovator, and Couch & Associates, provider of custom marketing cloud solutions tailored for brands throughout North America. The partnership marks another milestone in NextGen’s expansion of its North American partner network.

“We’re absolutely thrilled about this new strategic alliance with Resulticks and Couch & Associates,” said Prabhu Ramkumar, co-founder of NextGen. “It comes at a most opportune time to provide innovative products and services to the growing number of enterprises investing in digital transformation. It’s the kind of partnership that will create enormous value for both Resulticks and Couch & Associate clients. We expect great things from this collaboration.”

Redickaa Subrammanian, co-founder and CEO of Resulticks noted, “Couch’s years of experience and proven success in marketing technology solutions blends perfectly with Resulticks’ industry leading CDP and real-time orchestration capabilities. The Couch team understands digital transformation and has deep experience in accelerating it in thousands of engagements. Our alliance creates an unbeatable combination for delivering highly personalized, data-driven customer experiences for our clients—the kind that accelerate conversion, build long-time customer relationships, and deliver quantifiable top-line growth.”

Mike Couch, Couch & Associates CEO and managing director added, “Over the past 17 years, we’ve gained a deep understanding of the nuances of implementing sophisticated technology solutions for clients of all sizes from wide-ranging industries. By blending our strategic and technical skills with Resulticks’ world-class data capabilities and AI-powered analytics, we can enable our clients to convert data into valuable insights, boost lead generation, acquire new customers, improve customer retention, and attribute ROI to specific actions. ”

The new partnership will focus primarily on serving the North American marketplace across all industries with particular emphasis on banking, retail, insurance, financial services, CPG, travel and hospitality.

Forrester Transforms Access To Research-Based Insights With New Generative AI Tool, Izola

Forrester Transforms Access To Research-Based Insights With New Generative AI Tool, Izola

insights 19 Oct 2023

Designed to answer open-ended questions, Izola synthesizes Forrester’s research to enable clients to move faster on their top initiatives

Forrester (Nasdaq: FORR) today announced Izola, a new generative AI tool that allows users to query Forrester’s wealth of research and get a clear, synthesized answer via a simple chat interface. Currently available to a select group of Forrester clients, Izola will be made available to all Forrester Decisions and Forrester Market Insights clients in upcoming weeks. According to Forrester, 72% of global AI decision-makers believe that productivity is one of the greatest potential benefits of generative AI for their organizations — and Izola is designed to help clients improve productivity while accelerating outcomes.

“This is another golden age for research,” said Carrie Johnson, chief product officer, Forrester. “The way to avoid coherent nonsense in genAI output is through rigorous data and analysis going in. That’s exactly what Forrester does: rigorous data collection and analysis. Along with speed and self-service, Izola offers dependability and trust since the answers are based on vetted research. Forrester accelerated the development of this tool to seize the AI moment and help our clients discover insights quickly. We view this as a co-creation moment with our clients and have already received much positive feedback.”

One of many generative AI initiatives underway at Forrester, Izola was developed in-house using open-source technologies. When a client submits a question, Izola quickly scans hundreds of thousands of pages of Forrester research and blogs. Then the tool generates a synthesized answer in everyday common language in the form of a paragraph, bullet points, or sequential steps. Links to the source reports and blog posts appear below the summarized answer, giving clients the option to go deeper. Izola enables clients to get a jumpstart on their top priorities and have more informed conversations with Forrester experts who apply and contextualize Forrester insights to their business-critical initiatives.

Forrester continues to produce compelling research to help clients gain value from predictive and generative AI. These insights help business and technology leaders separate hype from reality — and understand how they can leverage AI to augment business practices in ways that were previously impossible.

New Revefi Research Reveals That Bad Data Is Wreaking Havoc for Businesses

New Revefi Research Reveals That Bad Data Is Wreaking Havoc for Businesses

reports 19 Oct 2023

Survey shows why data teams need a trusted copilot to manage data quality, performance, usage, costs

New research from Revefi reveals that bad data costs companies significantly and in more ways than one. Forty percent of the more than 300 IT directors, data and analytics managers, and other IT professionals surveyed said they encounter 11 to 100 data incidents per month. Sixty-five percent of the group said bad data delays processes. More than 75% said that it is somewhat, very, or extremely difficult to manage data warehouse spend, which is especially problematic right now as companies are working to do more with less.

“Data quality and management issues are on the rise, and that’s a costly problem for businesses,” said Sanjay Agrawal, CEO and co-founder of Revefi. “It leaves them spending too much time manually identifying root causes of data issues, and it creates delays, wastes money, leads to poor decision-making, and reduces customer trust and the accuracy of AI models.”

“Every business wants to be data-driven, yet there’s a lack of trust in data,” added Shashank Gupta, CTO and co-founder of Revefi. “Data teams typically lack the tools that they need to understand if they have a data problem and identify root causes quickly to fix issues and move their businesses forward. I witnessed this struggle firsthand during my time on Meta’s data infrastructure team. That led Sanjay and me to start Revefi and launch Revefi Data Operations Cloud, a zero-touch platform to monitor and manage data quality, performance and costs.”

Organizations across sectors spend far too much time finding and resolving data incidents

More than a quarter of those surveyed said detecting most data incidents takes up to eight hours. A tenth of the group said identification can take days or even more than a week. In addition to the time it requires, manually identifying problems is also enormously resource-intensive, as finding root cause often requires the involvement of multiple people across teams.

That’s just uncovering the source of the problem. Then, you need to fix it. Yet 43% of survey respondents said it takes more than 48 hours to resolve a data incident after discovering it.

Half of the survey respondents from the manufacturing sector and 60% of IT professionals in education admitted that it takes them more than 48 hours to resolve data incidents. A full 100% of respondents in energy, oil & gas said they typically must dedicate more than 48 hours to resolve a situation stemming from bad data.

Bad data and other data challenges like cost management can have adverse consequences

Fifty-eight percent of the IT professionals surveyed said that data quality and cleanliness are the most significant challenges that they face when working with data. Nearly as many (57%) respondents in the survey group revealed that they have encountered inaccurate data.

The same share (57%) said bad data has led to poor decision-making. Nearly as many (56%) said they believe that bad data reduces the accuracy of AI model performance. That is concerning considering the very high usage of AI models that has occurred in recent months.

Half of the survey respondents said that managing their data warehouse spend is difficult. Bad data also can erode the data users’ trust and work against company efforts to build a data culture. Indeed, 40% of respondents said that they believe bad data reduces customer trust.

Data quality is critical to AI model training and to ensure ethical AI development

As the adoption of AI grows and more organizations rely on AI models to automate more decisions and processes, the need for high-quality data takes on even greater importance.

That said, it’s troubling that 43% of respondents said they have experienced negative consequences due to poor data quality in AI projects. It’s also concerning that more than half (52%) of IT pros only somewhat trust the data sources that are being used to train AI models.

But there’s also some good news here. A whopping 70% of IT professionals believe that addressing data quality issues is important from an ethical standpoint in AI development.

With a copilot, data teams can manage data quality, performance, usage and costs

The better news is that technology is now available to help data teams manage data quality, performance, usage and costs. Revefi Data Operations Cloud is a copilot that empowers data teams to get the right data in their cloud data warehouses reliably, promptly and affordably.

For example, Revefi Data Operations Cloud gives FCP Euro a granular, accurate understanding of its data platforms so it can see how teams consume data and where they might be missing certain fields or values that could add insight. That allows the e-commerce company to know what its teams need from data so it can focus its energy and investment on delivering that. Revefi Data Operations Cloud also provides FCP Euro better insight for cost management, easy-to-understand data quality alerts and a sound foundation for data governance.

Revefi Data Operations Cloud is also helping ThoughtSpot move its business forward. ThoughtSpot now enjoys data freshness; automatic, instant access to data lineage; greater user trust in data; and cost and spend management. Within weeks of adopting Revefi, ThoughtSpot reduced its cloud data platform costs by 30% while increasing its platform usage by 35%.

Another customer, Uplimit, has achieved data reliability at scale with Revefi. The AI education platform company turned to Revefi to ensure a high standard of quality for the data it uses. With Revefi, Uplimit enjoys the benefits of data quality monitoring without a dedicated resource, silent failure detection, stringent control over data access to ensure SOC 2 compliance and the ability to find unused data resources so that it can identify cost savings opportunities.

 

   

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