Navigating the genAI era: Opportunities and challenges

Real-time data processing driven by AI, ML, and GenAI technologies can significantly impact business outcomes, enhancing fraud detection, personalized recommendations, and targeted marketing. Consolidating data silos into a centralized data lake allows for efficient governance and access control, providing agility in data models. Data virtualization enables companies to retrieve and analyze data from diverse sources without the logistical issues of physical data relocation. Real-time predictions have been instrumental for fraud detection in financial services, while real-time response is critical in B2C use cases. GenAI presents challenges such as trust deficit, biased data, and intellectual property concerns but also offers opportunities to enhance productivity and customer experiences. Organizations need to be concerned about privacy regulations when using personally identifiable information in AI and consider data sovereignty restrictions around the data's geographic location.