What is your top data trend prediction for 2024?
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Chief Data Officer in Media8 months ago
1. Advancement in specialized hardware that can run AI algorithms efficiently at the edge.2. Tighter data privacy and security regulations at federal and industry level.
3. Increased data breaches and cybersecurity threats
4. Still having a growth in the availability of SaaS tools/ cloud services/ 3rd party data processors
5. New buzz words :)
From a data perspective, the sobering reality of a post-hype is what will headline 2024 on the data trends. This will entail going back to basics of data management and governance. Organisations that remained rooted in these solid foundations and sound business architecture are best poised to make the best of the promises of AI inflated in the past year. Developments that we also saw in later parts of the year in the regulatory landscape will also magnify the focus placed on data privacy, security, and protection.
Lastly, model training optimisation techniques will also be relevant as organisations seek to implement LLMs in a fit-for-purpose and efficient manner. Knowledge graphs are likely to take centre stage in enabling this.