Sometimes, it’s easy to get lost in the day to day of operations and processes, reason for which taking the time to look elsewhere can be a breath of fresh air, an opportunity to revisit some of your longstanding processes and consider how they might be different, or more efficient. Join to hear about other companies’ internal structures for inspiration, and take the opportunity to rethink and revamp yours for improved productivity, happier employees and optimal management of your data.
Securing funding and resources for ML and/or AI initiatives can be challenging, especially when competing with traditional data and quantitative priorities. Effectively navigating the approval process is crucial to success, as is the ability to ‘speak business’ and actively communicate the potential of certain implementations. Focus in on crafting strong business cases, identifying key performance indicators (KPIs), and integrating ML/AI into business processes – with stakeholders on your side.
- Learn to craft compelling business case proposals with clear criteria for approval
- Identify high-impact business processes and measuring success against tangible value
- Discover key ways to train business users and ensuring ongoing support for ML/AI solutions
Everywhere there is talk of the next big thing, the new tool, the modern approach. In industries like finance, where long-established systems continue to serve critical functions, this can be a difficult route to navigate. The allure of the “next big thing” is undeniable, but this does not mean that legacy systems should simply be dropped for the sake of modernization. Nevertheless, the finance sector is under increasing pressure to innovate and stay relevant in the competitive landscape, all while having to manage limited budgets and regulatory uncertainty. Aggravated in part by new fintech companies emerging and starting operations from scratch, how can banks stay up to date in the space? And how can fintech companies make sure they do not fall victim to a potentially ephemeral “next big thing”?
- Evaluate your organization’s current structure, and identify your strengths and weaknesses to identify key areas of improvement that align with your business goals and can drive long-term success
- Identify the pros and cons of legacy systems and new tech, and where each might play a role within your business model to help you maintain stability while integrating flexibility
- Weigh in on innovation, and the importance of optimization rather than acquisition, to benefit from the right tools at the most efficient cost
As a data leader, preparing for audits and exams is an essential aspect of ensuring your organization remains compliant with ever-evolving regulations. It’s not just about checking boxes but about fostering a culture of transparency and responsibility. It is crucial, for this reason, to maintain consistent data governance, documentation, and risk management strategies to be audit-ready at any moment. Reflecting on past exams provides invaluable insights into potential gaps and areas for improvement. Preparing proactively and learning from the past can help you build trust and maintain regulatory integrity.
- Discover the importance of reviewing data processes regularly to identify discrepancies and rectify them before they become issues
- Assess how you can empower your team to maintain up to date records, including data lineage, access controls, and policies
- Home in on the value of assessing past audits for trends or areas of recurring concern, and of documenting decisions made in past audits to help build a clearer path for future compliance
Being the first is the best. Or is being the best the best? Both no doubt have pros and cons – being the first helps forge a specific reputation for your company as a leader, a trailblazer and an active innovator. However, another company advertizing the same process or technique a little later, but more organized or streamlined can quickly take your limelight away. In a world where progress is always viewed as positive, and modernization feels like the obvious way forward, it is nevertheless important to stop and consider for what reasons you are implementing a new process, adopting a new tool, or releasing a new product, and whether it is actually improving your processes. Pick a side and debate!
There is a lot on a CDO’s plate. Figuring out what you want your data team, processes and management to look like is a tricky task, especially considering the effects stakeholders, other departments and the regulatory landscape can have on them. Different methods will suit different companies, but it is crucial to identify from the get-go what your strategy is and what you seek to create within your given business. Finish the Exchange by hearing what your peers wish to focus on going forward and weigh in on your key takeaways and potential strategies as you set off to make your company data-driven and future-thinking.