#208 Monetizing Data & AI with Vin Vashishta, Founder & AI Advisor at V Squared, & Tiffany Perkins-Munn, MD & Head of Data & Analytics at JPMC

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May 20, 2024

Vin Vashishta, founder of V Squared and author of 'From Data to Profit', teams up with Dr. Tiffany Perkins-Munn, JPMC's Head of Data & Analytics, to explore how businesses can effectively monetize data and AI. They discuss assessing data maturity and aligning strategies with business goals for better ROI. The duo emphasizes the need for a unified technical strategy while navigating the complexities of operational enhancements and long-term commitments. Their insights reveal how to bolster collaboration, innovative methods for monetization, and the ethical implications of AI in business.

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ADVICE

Business-First Approach

Focus on business objectives, not just technology when using data and AI.
Start with the business's core goals and use data/AI to address those.

INSIGHT

Data Maturity Assessment

Data maturity requires evaluation across data governance, strategy, and IT.
Assess data definition, documentation, quality, vision, and IT stack.

ADVICE

Data Transformation

Define business objectives for data transformation and build a data-driven culture.
Provide training to enhance data literacy among employees.

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Everything in the world has a price, including improving and scaling your data and AI functions. That means that at some point someone will question the ROI of your projects, and often, these projects will be looked at under the lens of monetization. But how do you ensure that what you’re working on is not only providing value to the business but also creating financial gain? What conditions need to be met to prove your project's success and turn value into cash?

Vin Vashishta is the author of ‘From Data to Profit’ (Wiley), the playbook for monetizing data and AI. He built V-Squared from client 1 to one of the oldest data and AI consulting firms. For the last eight years, he has been recognized as a data and AI thought leader. Vin is a LinkedIn Top Voice and Gartner Ambassador. His background spans over 25 years in strategy, leadership, software engineering, and applied machine learning.

Dr. Tiffany Perkins-Munn is on a mission to bring research, analytics, and data science to life. She earned her Ph.D. in Social-Personality Psychology with an interdisciplinary focus on Advanced Quantitative Methods. Her insights are the subject of countless lectures on psychology, statistics, and their real-world applications.

As the Head of Data and Analytics for the innovative CDAO organization at J.P. Morgan Chase, her knack involves unraveling complex business problems through operational enhancements, augmented financials, and intuitive recruiting. After over two decades in the industry, she consistently forges robust relationships across the corporate spectrum, becoming one of the Top 10 Finalists in the Merrill Lynch Global Markets Innovation Program.

In the episode, Richie, Vin, and Tiffany explore the challenges of monetizing data and AI projects, including how technical, organizational, and strategic factors affect your input, the importance of aligning technical and business objectives to keep outputs focused on core business goals, how to assess your organization's data and AI maturity, examples of high data maturity businesses, data security and compliance, quick wins in data transformation and infrastructure, why long-term vision and strategy matter, and much more.

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