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Information has at all times been integral to enterprise enterprise, however the rise of digital transformation has created a brand new sense of urgency across the methods during which it’s managed, analyzed and ruled. This newfound emphasis round knowledge has positioned the function of chief knowledge officer (CDO) squarely within the enterprise highlight. In 2012, solely 12% of huge, data-intensive corporations employed a CDO, whereas 65% do as we speak, in accordance with a NewVantage Companions survey.

A new report printed by Skilled.ai, the premier synthetic intelligence (AI) platform for language understanding, surveyed knowledge and analytics determination makers to disclose how groups are faring as they try and information their firms in direction of AI success.

This report reveals that 9 out of ten CDOs agree that administration of unstructured language knowledge — together with textual content from enterprise paperwork and emails — have to be addressed within the subsequent 12 months. But, few are ready with the pure language processing (NLP) and pure language understanding (NLU) expertise and instruments wanted to make a transition work.

Graphic. Top pain points for data teams. 96% said delivering business impact now through AI. 92% said data security. 91% said managing unstructured language data. 90% said managing cost, complexity, and risk. 89% said regulatory compliance. 89% said data access and reporting. 83% said building a scalable strategic capability. And 81% said AI understanding, trust and explainability.

There may be rising realization throughout enterprises that unstructured language knowledge isn’t merely a byproduct of operations however a significant useful resource to be mined for actionable insights. The flexibility to extract worth from unstructured knowledge is what’s going to separate companies from their competitors through higher Internet Promoter Scores and decreased guide doc dealing with and extraction prices. NLP and NLU expertise have been confirmed the important thing to doing so.

Regardless of this, solely 8% of knowledge groups have accomplished NLP and NLU tasks inside their enterprise that will allow them to completely unlock the worth of their unstructured language knowledge. Greater than a 3rd (34%) of knowledge groups have began activating plans for NLP tasks. Practically 1 / 4 (24%) are nonetheless defining their plans however are usually not able to activate them.

The survey was carried out amongst knowledge and analytics determination makers throughout the usand Europe. The interviews had been led by Sapio Analysis in October 2021.

Learn the full report by Skilled.ai.

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