# 56: 4 Key Signals That Indicate A Data Culture Is Thriving In Your Organization📊

May 01, 2023

Hello,

Until recently, the world was on a long-drawn quest toward AGI (Artificial General Intelligence). In recent months, GAI seems to have captured everyone’s fascination - “Generative AI” 😄 In this edition, we talk about enterprise application of tools like ChatGPT and explore how large firms are applying it at scale.

This newsletter will take you about 4 minutes to read.

I. Spotlight: 4 Key Signals That Indicate A Data Culture Is Thriving In Your Organization📊

What’s often considered ideal for organizations that aspire to use data for decision-making? Data culture. But what does this term really mean? It is often tossed around to explain away failures in delivering value from Artificial Intelligence (AI), or to describe vague goals with analytics.

Is data culture just another buzzword? Why should leaders pay attention, and what is its significance in an organization’s journey to becoming data-driven? What are the practical challenges in fostering a data culture, and what are examples of businesses that have done it right?

Data-driven culture was the theme of a recent panel discussion of industry leaders at the MIT CDOIQ (Chief Data Officer and Information Quality) Symposium. I spoke to Robert Audet, Director in Advanced Solutions at Guidehouse, who moderated the panel of Chief Data Officers (CDOs). This article answers the above questions using insights from our conversation.

What is data culture?

It is often said that an organization’s culture is what employees do when no one is watching. Culture is the collection of shared values and practices that drive the actions of all team members. Similarly, data culture is the collective behavior and beliefs of people in how they use (or don’t use) data for decision-making.

“To make sense of data culture, we need to understand how it fits into the overall corporate culture,” said Katherine Tom, CDO at the Federal Reserve Board of Governors. Data is often meaningless on its own. What matters is how it enables business goals and operations.

II. Industry Roundup:

1. Article: Intelligent Automation At Johnson & Johnson

06 minutes | Forbes | Tom Davenport

J&J implemented an enterprise-wide "intelligent automation" (IA) initiative to drive its digital strategy. J&J’s goal was to reimagine end-to-end business processes with a digital-first approach and shift employees’ focus from manual tasks to more engaging, creative, and purpose-driven work. What was the key ingredient in this transformation? Change management. Read on to find out how the firm is targeting to unlock $1 Bn in value by 2025.

-> Read the Article

2. Article: Generative AI: 3 do's and don'ts for IT leaders

04 minutes | Enterprisers Project | David Egts

As Generative AI increasingly finds its way into enterprise use, IT leaders must guide employees. This article lists three tips to consider Generative AI. Firstly, you need to know how the data from generative AI is collected and used, it could contain proprietary data. Understand that the output could be biased or plain wrong, depending on the quality of the training data. Finally, it is best to experiment with it in low-risk situations to understand how it works.

-> Read the Article

3. Article: How Morgan Stanley Is Training GPT To Help Financial Advisors

07 minutes | Forbes | Tom Davenport

OpenAI worked with Morgan Stanley (MS) to explore the application of GPT-4 to its wealth management business. MS “fine-tune trained” GPT-4 on 100,000 documents as a training corpus. It piloted this project with 300 financial advisors who gave detailed feedback as required. GPT-4 helps answer advisor questions about investment recommendations, general business, and processes. This article shares how other companies could learn and emulate this success story across industries.

-> Read the Article

III. From my Desk:

1. Video: A fun-filled Q&A session with me

3 min | LinkedIn

I did a fun interview with the Gramener team during my recent trip. Unlike most discussions I’ve done before, the questions were about anything but data. From my morning routines to quirky habits that keep me motivated, we laughed and enjoyed chatting. Here’s a sneak peek into my personal side.

-> Watch the Video

Can AI now read your mind? This research is scary…🤯

Thank you for subscribing and reading the newsletter. I appreciate your attention,

Ganes.

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My Website | LinkedIn | Twitter | YouTube

I’m Ganes Kesari. I publish ‘Data-Driven Future’ to help understand how data shapes our world, explore key trends, and explain what they mean for you today. I speak and write to demystify data science for decision-makers and organizations.

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