CDO Matters Ep. 42 | Top Data Predictions for 2024
Jan 25, 2024
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The podcast discusses top data predictions for 2024, including investments in AI data, software, and consulting, the potential decline of Chief Data Officers in the private sector, and the increasing demand for CDOs in the public sector. It also explores the concept of data product ownership and its value in data management, highlights the importance of fundamentals and driving value with AI, and explores the potential implications of AI's advancement in mathematics and encryption.
Increased business spending and investments in AI and data are expected in 2024 due to an economic recovery.
While the private sector may see a decline in the number of CDOs, significant growth is expected in the public sector.
Organizations will shift focus from the concept of data mesh to data product ownership and data marketplaces in 2024.
Deep dives
Positive Economic Recovery in 2024
In 2024, there will likely be an economic recovery, leading to increased business spending and investments in AI and data.
Net Decline in Private Sector CDOs
There may be a net decline in the number of Chief Data Officers (CDOs) in the private sector, while significant growth is expected in the public sector.
Data Mesh Evaporation
The concept of data mesh may lose popularity in 2024, with organizations focusing more on data product ownership and data marketplaces.
Integration of AI and Data Fabric
The integration of AI and the data fabric will become a key focus, with graphs, metadata, and AI making recommendations to improve data management capabilities.
Mindset Shift in Data Analytics Space
There is a need for a mindset shift in the data analytics space, moving away from old deterministic thinking and embracing more probabilistic approaches for AI readiness and innovation.
Are you a data professional interested in better understanding what the top trends that could affect your work will be in 2024? What is the future of data products? How will AI influence data governance and data management?
Malcolm covers these topics and many, many more as he shares his perspectives on the direction of the industry of data and analytics in the coming year.