Tag: data volume

The global economy is facing challenges on many fronts, with inflation and recession becoming the words of the day. As a result, budgets that are always tight (like IT) are under even more scrutiny than before. Any unnecessary spending needs to be curtailed, for obvious reasons, but does data management fall into this category?

The modern world is flush with technology jargon, and new ones keep entering our lexicon: digital transformation, the 4th Industrial Revolution (4IR), and Generative Artificial Intelligence are just a few examples. And as often happens with overused words and phrases, we become very comfortable with these to the point that they soon become a part of the background noise.

Artificial intelligence (AI) provides banks with the means to make better use of the massive amount of data at their disposal. In doing so, they can identify opportunities for growth faster and gain significant competitive advantage at a time when more agile digital counterparts are emerging.

As data moves to the cloud, data volumes continue to explode and become increasingly fragmented across devices, locations and service providers. This exponential growth of data and information ushers in the increased burden of responsibility on organisations to strictly enforce data policies and governance, that must be adhered to in an environment of escalating global regulation.