Vin Vashishta, an expert in data science and AI, shares insights on collaboration, strategy, and maximizing data potential. They discuss the importance of technical strategists, deep understanding of data by product managers, and the opportunities in the generative AI era. They also explore mindset shifts to become multipliers, monetization of data and AI products, and the significance of leadership and strategy.
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Quick takeaways
Having a clear data strategy is crucial for successful execution of machine learning and data products, and new roles like data product managers and AI strategists help align data teams with strategic goals.
Transitioning from being a technical expert to becoming a multiplier is essential in the evolving data field, with a focus on improving the team's capability, bridging the gap between technical expertise and business acumen, and developing leadership and business-oriented competencies.
Deep dives
Importance of Data Strategy
The podcast episode emphasizes the significance of having a clear data strategy for valuable machine learning and data products. It highlights the need to go back to square one and determine the strategy before creating a product. Strategy is portrayed as more than just idle talk or PowerPoint presentations, but rather as a key aspect of successful execution. The importance of understanding the business value of projects and the role of strategy in guiding decisions is discussed. It is suggested that data professionals should develop business acumen and that new roles like data product managers and AI strategists are essential in aligning data teams with strategic goals.
Shift in Roles and Skill Sets
The podcast explores how roles in the data field are evolving and the changing skill sets required. The transition from being a technical expert to becoming a multiplier is highlighted, where individuals focus on not just delivering value individually, but improving the entire team's capability. The role of data product managers and AI strategists is emphasized in bridging the gap between technical expertise and business acumen. The importance of teaching and mentorship, as well as creating opportunities for growth within the team, is discussed. The idea that data professionals should not solely rely on their technical skills, but also develop leadership and business-oriented competencies is emphasized.
Monetizing Data and AI
The podcast delves into the challenge of justifying the return on investment (ROI) of large language models and offers insights on how to approach it. The concept of having a competitive advantage or moat, and the need to leverage unique data, domain expertise, and strategic acumen, is discussed. It is suggested that instead of solely focusing on immediate revenue generation, businesses should consider the long-term potential and the ability to create barriers for competitors. The importance of selecting high-potential opportunities that align with the business's strengths and understanding the different monetization paradigms of data and AI products is emphasized.
Implementing New Roles and Organizational Change
The podcast touches on the implementation of new roles like data product managers and AI strategists within organizations. The importance of integrating these roles with existing product management, strategy, or data teams is highlighted, emphasizing the need for open collaboration. The role of a C-level data leader in driving strategy planning and facilitating communication between data professionals and the C-suite is discussed. The podcast also encourages data professionals to advocate for the creation of these new roles and collaborate with other teams to build business literacy within the data organization, while simultaneously promoting data and AI literacy across the business.
MLOps Coffee Sessions #176 with Vin Vashishta, Collaboration and Strategy.
// Abstract
From the significance of technical strategists to the crucial role of product managers with a deep understanding of data and AI products, Vin shares invaluable insights on fostering collaboration, driving strategy, and maximizing the potential of data within organizations. Join us as we explore the importance of becoming multipliers in our fields, the power of effective strategy in leveraging data, and the opportunities that lie in the generative AI era.
// Bio
Vin's background is in applied data science. He is the founder of V Squared, one of the oldest and smallest data science consulting companies in the world. They help businesses monetize data and AI. Vin is the author of From Data To Profit. He teaches technical strategy and data and AI product management.
// MLOps Jobs board
https://mlops.pallet.xyz/jobs
// MLOps Swag/Merch
https://mlops-community.myshopify.com/
// Related Links
Website: https://www.datascience.vin/
From Data To Profit: How Businesses Leverage Data to Grow Their Top and Bottom Lines book:
https://www.amazon.com/Data-Profit-Businesses-Leverage-Bottom/dp/1394196210/
--------------- ✌️Connect With Us ✌️ -------------
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Connect with Demetrios on LinkedIn: https://www.linkedin.com/in/dpbrinkm/
Connect with Vin on LinkedIn: https://www.linkedin.com/in/vineetvashishta/
Timestamps:
[00:00] Vin's preferred coffee
[00:14] Takeaways
[02:02] Please like, share, and subscribe to our MLOps channels!
[02:28] Recent ideas of Vin
[05:09] Understanding the business value of any project
[08:30] Generative AI making things faster
[14:29] Strategy in practice
[20:19] Practicality and Credibility of Strategists
[22:42] Coming soon!!! LLMs in Production Conference Panel Part III
[27:48] Becoming a Multiplier
[29:03] The AI Product Manager
[35:12] Successful monetization and integration of technologies
[37:48] Justifying the ROI of LLMs
[44:59] Adding that extra value
[49:52] Read Vin's book linked above!
[50:35] Wrap up
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