Findings suggest a comprehensive IM strategy may also help overcome top challenges organizations faced during AI implementation, including unintended data exposure and data quality issues
JERSEY CITY, N.J., April 03, 2024 (GLOBE NEWSWIRE) — AvePoint (Nasdaq: AVPT), the most advanced platform to optimize SaaS operations and secure collaboration, today announced the results of its inaugural AI and Information Management Report in collaboration with the Association for Intelligent Information Management (AIIM) and the Centre for Information Policy Leadership (CIPL). AvePoint surveyed over 750 digital workplace leaders across the world and industries and found that nearly every organization experiences challenges when implementing artificial intelligence (AI), with the top challenge being issues with data quality. However, organizations with more mature information management (IM) strategies are 1.5x more likely to realize benefits from AI than those with less mature strategies.
According to the survey, fewer than half of organizations are confident they can use AI safely today. Further,
- Before implementing AI, 71% of organizations were concerned about data privacy and security, while 61% were concerned about quality and categorization of internal data.
- Fewer than half have an AI Acceptable Use Policy, despite widespread use of publicly available generative AI tools (65% of organizations use ChatGPT and 40% use Google Gemini today).
- When implementing AI, 45% of organizations encountered unintended data exposure, meaning one of their biggest concerns became reality.
“Unsurprisingly, data privacy and security were among the top concerns for organizations before implementing AI,” said Dana Simberkoff, Chief Risk, Privacy and Information Security Officer, AvePoint. “The reality is that not enough organizations have the proper policies in place today, which exposes them to risks that could be mitigated, if they better protect and govern their data and educate their employees on the safe usage of this technology.”
The survey exposed contradictions in organizations’ perception of readiness for AI compared to their reality. Many companies experience gaps in data readiness and information management that have already or will pose significant obstacles to safe and successful AI implementation.
- 88% of organizations report they have an IM strategy in place, but 44% lack basic measures such as archiving and retention policies and lifecycle management solutions.
- Just 29% of organizations use automation in most aspects of their IM strategy. But data volume is growing, with 64% of organizations managing at least 1 petabyte of data and 41% managing at least 500 petabytes of data.
- When implementing AI, 52% of organizations faced challenges with internal data quality.
“The amount of data companies are generating and must manage is growing rapidly, and this will only accelerate as more organizations utilize AI technology,” said Alyssa Blackburn, Director of Information Management, AvePoint. “If organizations don’t establish or adapt their information management strategies, the challenges they are already facing will be exacerbated by AI. The good news is, 77% of organizations recognize they must implement additional strategies to keep pace with AI, which is a promising step in the right direction.”
Additionally, effective IM strategies can lead to a meaningful return on AI investments, according to the survey.
- Organizations with mature IM strategies are 1.5x more likely to realize benefits from AI than those with less mature strategies.
- Despite this correlation, not enough organizations acknowledge the value of information management in AI success, with only 17% recognizing a robust IM strategy as the most effective way to ensure ROI on their AI investments.
“We are pleased to support this important study, which confirms the importance of an information management strategy to successful AI implementation and operationalization,” said Tori Miller Liu, CIP, President & CEO, Association for Intelligent Information Management (AIIM). “The data shows that organizations who invest in their information management strategy can realize the benefits of AI faster than organizations who lack a comprehensive information management strategy.”
This year, organizations are significantly increasing their investments in AI, with 83% planning to increase their AI spending and 79% investing in licensed AI such as Copilot for Microsoft 365. In addition, 60% of organizations plan to allocate at least a quarter of their technology budget to AI in the next 5 years. However, less than half of organizations (46%) offer AI-specific training, hindering their employees from safely using and optimizing this technology.
“As organizations increase their investment in AI, a comprehensive and holistic accountability program for both data privacy management and AI governance is even more critical,” said Bojana Bellamy, President, Centre for Information Policy Leadership (CIPL). “In addition, good data management and AI governance must extend beyond legal compliance; it is essential for achieving long-term, sustainable business success and competitiveness, as well as for building public trust and maximizing the beneficial impact of AI.”
To read the full AvePoint AI and Information Management Report, please visit avpt.co/AI-report-2024
AvePoint conducted its AI & Information Management study in collaboration with AIIM, an organization dedicated to advancing the information management industry, and with CIPL, a global privacy and data policy think and do tank, to better understand the intersection of AI and information management and how information management practices were impacting AI implementation. By partnering with Qualtrics, AvePoint surveyed 762 respondents from 16 countries and regions, representing 10 different industries and varying organizational sizes. The survey was designed to target managers, directors, vice-presidents, and C-level executives, with primary or shared responsibility for AI implementation.
About AvePoint
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