Position on the rise in Brazil and Latin America, Chief Data Officers (CDOs) indicate that their data management strategy is explicitly aligned with the digital transformation of companies
New IBM global research reveals that just over half (51%) of Chief Data Officer (CDOs) in Brazil are making better and faster decisions by applying artificial intelligence (AI) and data, but only 22% of them report that they are using AI to automate decision-making. Furthermore, 48% of these executives here in Brazil indicate that their data management strategy is explicitly aligned with companies' digital transformation. O CDO Study 2023 of the IBM Institute for Business Value, interviewed 3,000 CDOs worldwide, including Brazil and other countries in Latin America such as Mexico, Chile and Colombia.
The CDO position was created to be an agent of change for companies, with the main objective of training and disclosing the great value of data for organizations. The professional's priority goes beyond understanding the strategic needs of the business, but also implementing data planning that helps leaders achieve goals faster and adopt data as a competitive advantage.
The survey also details that Brazilian data executives point Internet of Things (60%), Hybrid Cloud (48%) and AI and Machine Learning (33%) among the top five technologies capable of revealing data value.
“We are living in a latent scenario that brings an overview of how AI and data are fundamental pieces in the digital transformation of companies. And it is precisely in this context that the CDO, although it is a relatively new function here in Brazil and in Latin America, is increasingly at the forefront of business. This happens, firstly, because we have more data to analyze, evaluate and extract knowledge. And second, its importance is precisely due to the need to govern and regulate this data”, explains Joaquim Campos, Vice President of Automation, Data and AI at IBM Latin America.
The survey also details that Brazilian data executives point Internet of Things (60%), Hybrid Cloud (48%) and AI and Machine Learning (33%) among the top five technologies capable of revealing data value. The study commissioned by IBM brings some more important insights from Brazil:
- 82% from Brazilian CDOs indicate that ensuring data security is the most important responsibility of their role.
- 48% of executives surveyed agree that their organizations are fully compliant with legislation and data standards.
- Only 23% of those surveyed in Brazil point to complete and explainable results as an important feature of their data architecture.
And some more relevant percentages from Latin America:
- 76% of these leaders in Latin America have ecosystem partners who are extremely committed to their data strategy.
- 59% of CDOs have clearly defined boundaries for automated decision-making.
- Only 41 % point to complete and explainable results as an important feature of their data architecture in Latin America as a whole.
“With companies' keen eye on data, CDOs are just the people who can play a critical role in enabling AI across the organization, which can drive more efficient decisions and reduce risk. Provide information and transparency about the algorithms used to process the data, define an ethical framework for the application of AI and algorithms; ensuring control and creating diverse teams with people from different backgrounds to avoid unconscious biases in their solutions are some of the strategic pillars to strengthen principles and an AI centered on the human being”, adds Campos.
