Wavestone Releases 2024 Data and AI Leadership Executive Survey

The 12^th Annual Survey of Fortune 1000 and Global Data and AI Leadership

NEW YORK, Jan. 2, 2024 /PRNewswire/ -- Wavestone has published the results of its 12^th annual Data and AI Leadership Executive Survey of Fortune 1000 and Global data leadership.  This year, 95.3% of survey participants held a C-suite title or were their company's corporate head of data and AI responsibilities, with 89.8% holding the title of Chief Data Officer (CDO) or Chief Data and Analytics Officer (CDAO) within their organization.  These executives held their positions during 2023 at over 100 Fortune 1000 and Global data leadership organizations.

This represents the 12^th annual edition of the Wavestone survey, which was first published in 2012 by NewVantage Partners (acquired by Wavestone in 2021) at the behest of a group of Fortune 1000 CIOs and data leaders who were looking to understand whether it was time to expand and accelerate data and analytics initiatives and investments.  The Data and AI Executive Leadership Survey has evolved over the past dozen years and is now widely recognized as the longest running survey of Fortune 1000 and global data, analytics, and AI leaders. 

In the Foreword to this year's survey, Randy Bean, Innovation Fellow at Wavestone and Founder of NewVantage Partners, and Thomas H. Davenport, author of the landmark study Competing on Analytics, write "The past year has been an extraordinary one in many respects, not the least of which is the amazing rise of Generative AI. That overshadows any other development in the data and technology domain, and in this 12^th annual survey from Wavestone (formerly NewVantage Partners), Generative AI has a strong influence. Generative AI seems to have catalyzed more positive change in organizations' data and analytical cultures than in any time since the inception of this survey."

Major findings of the 2024 Data and AI Leadership Executive Survey are: 

1. Leading companies continue investments in data and analytics with the expectation of delivering business value.
2. Companies see Generative AI as potentially the most transformative technology in a generation.
3. Companies believe the Chief Data Officer/Chief Data and Analytics Officer (CDO/CDAO) role is necessary, although turnover has been high and tenures short.
4. Companies recognize that integrating data and AI into traditional business processes and changing organizational culture requires time and commitment.
5. Companies believe data and AI safeguards and governance are essential, but much more needs to be done.

Among noteworthy results of the survey are:

• 87.9% of participants reported that investments in data and analytics are a top organizational priority.
  
  
• 62.3% of participants reported that investments in Generative AI are a top organizational priority.
  
  
• 89.6% of participants reported that investment in Generative AI is increasing within their organization.
  
  
• 79.4% of participants stated that Generative AI should be part of the Chief Data Officer/Chief Data and Analytics Officer (CDO/CDAO) function.
  
  
• 15.9% of participants stated that the industry has done enough to address data and AI ethics.

About Wavestone

Wavestone, a leading independent consultancy headquartered in France, and Q_PERIOR, a consulting leader in the Germany-Switzerland-Austria region, joined forces in 2023 to become the most trusted partner for critical transformations. Drawing on more than 5,500 employees across Europe, North America and Asia, the firm combines seamlessly first-class sector expertise with a 360° transformation portfolio of high-value consulting services.

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SOURCE Wavestone