2024 Data, Analytics and AI Predictions and Prescriptions for CFOs - Arun Marar

With Arun Marar.

The 2024 Predictions for CFOs on Data Science and Data Engineering by Arun Marar.

The comprehensive research report, The 2024 Data, Analytics and AI Predictions and Prescriptions for CFOs, offers invaluable insights to CFOs navigating these quickly evolving technologies and disciplines.

Our recent LinkedIn Live event captured the essence of the report. The team of experts who prepared the report, Prashanth H Southekal, PhD, MBA, ICD.D, Tobias Zwingmann, Arun Marar, Ph.D. and Sanjeev Chib, CPA, CA, took turns highlighting their predictions and prescriptions in their area of expertise.

In the clip below Arun summarizes his Predictions and Prescriptions on Data Science and Data Engineering.

Here’s a glimpse into predictions and prescriptions from Arun on areas many CFOs have not been exposed to but must become familiar with to realize their aspirations on these topics.

Prediction 1: Synthetic Data for AI Model Development

  • Synthetic data will play a pivotal role in enhancing AI model development. Synthetic data closely mirror the statistical properties, structure, and format of real-world data, while safeguarding sensitive information and mitigating risk.

Prescription: Use synthetic data when data is scarce, data is sensitive or when data is difficult to obtain. As an example, Arun highlights critical use cases such as training self-driving car AI models and protecting personally identifiable information, emphasizing the role of synthetic data in driving innovation and addressing bias in AI models.

Prediction 2: AI Model Drift

  • AI model drift is AI model degradation over time. This phenomena is not completely understood but will continue to plague the expected returns on AI investments when not managed effectively. Gartner reports that 85% of AI models eventually fail in implementation.

Prescription: To mitigate AI model drift CFOs must: ensure data quality, enabling adaptive learning, incorporate human oversight and continuously monitor the activity throughout the AI model’s lifecycle.

Arun’s forward-looking insights provide valuable guidance for CFOs preparing to navigate the evolving AI landscape in 2024 and beyond. Watch or listen to his full presentation for more valuable lessons on AI.

Stay tuned for more updates on AI’s impact on finance and business!

Take in the full event here, The 2024 Data, Analytics and AI Predictions and Prescriptions for CFOs

And the predictions and prescriptions from the other experts here,

Prashanth Southekal on Data Management and Data Governance

Tobias Zwingmann on Artificial Intelligence

Sanjeev Chib on Data Protection and Risks

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