Me, Myself, and AI

Monetizing Data With AI: MIT CISR's Barb Wixom

Feb 18, 2025

Barbara Wixom, a principal research scientist at MIT’s CISR, dives into the crucial topic of data monetization and its synergy with AI. She emphasizes that successful AI requires strategic alignment with business goals, smart data governance, and ethical practices. Wixom shares insightful case studies that illustrate best practices and common pitfalls in AI implementation. The discussion also touches on the balance between financial gains and broader societal benefits, urging companies to navigate the complexities of data analytics thoughtfully.

34:31

Episode guests

Barb Wixom

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Data monetization is essential for AI-driven value creation, emphasizing the importance of integrating data as a core organizational resource.

Successful AI implementation requires alignment with business objectives and metrics, ensuring that initiatives deliver measurable financial benefits and efficiency.

Deep dives

The Role of Data Monetization in AI Success

Data monetization is a crucial framework for understanding how AI can drive value within organizations. AI should not be pursued in isolation; instead, it must be integrated into a broader strategy that encompasses the effective use of data as a key organizational resource. This perspective shifts the focus from merely utilizing AI technology to leveraging it as a means to enhance data’s economic potential. For example, organizations that successfully convert data into actionable insights can foster decision-making processes that result in tangible financial benefits, ultimately enriching their business operations.

Intro

2min

The Evolution of Decision Support and its Impact on Leadership

3min

Data Monetization and AI Synergy

7min

Navigating AI Strategy: Beyond Monetary Value

3min

Navigating AI and Data Analytics Challenges

16min

Barbara Wixom, principal research scientist at MIT’s Center for Information Systems Research (CISR), draws on 30 years of research in this bonus episode of the Me, Myself, and AI podcast. She believes data monetization is the key to enterprise success with AI and breaks down why.

With hosts Sam Ransbotham and Shervin Khodabandeh, Barb details case examples to highlight best practices for AI implementation and how to measure value, as well as how data governance and ethics play a critical role in successful AI projects. They also talk about what companies get wrong and the challenges and rewards of AI research. Read the episode transcript here.

Guest bio:

Barbara Wixom is a principal research scientist at the MIT Center for Information Systems Research (CISR). Her academic research explores how organizations generate business value from data assets. She is the author of the award-winning book, Data Is Everybody’s Business: The Fundamentals of Data Monetization, which she wrote to inspire workers to engage in data monetization.

Me, Myself, and AI is a collaborative podcast from MIT Sloan Management Review and Boston Consulting Group and is hosted by Sam Ransbotham and Shervin Khodabandeh. Our engineer is David Lishansky, and the coordinating producers are Allison Ryder and Alanna Hooper.

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