ETR Survey Highlights Urgent Need for Expertise in Leveraging Generative AI on Unstructured Data
May 23 2024 - 8:30AM
Qlik®, a global leader in data integration, analytics, and
artificial intelligence (AI), today announced new research
revealing that while enterprises recognize the significant
potential of unstructured data to enhance operational efficiency
and drive meaningful insights, many are struggling to effectively
leverage this resource. The survey shows that a lack of expertise
and insufficient tools are major barriers, with only a small
percentage of enterprises dedicating more than a quarter of their
AI budget to unstructured data initiatives.
“With many sources citing that unstructured data makes up to 80%
of the world’s data, it is no surprise that enterprise leaders want
more real value from this untapped source,” said Brendan Grady,
General Manager of Qlik’s Analytics Business Unit. “Yet, our survey
highlights that nearly 70% agree their organization is not well
equipped to understand how GenAI can be leveraged on their
unstructured data.”
“Companies are looking for solutions that enable GenAI adoption
without requiring them to overhaul their existing skillsets and
technology stack. The opportunity is finding ways to integrate AI
seamlessly into current analytics environments, allowing
organizations to extract the right answers from unstructured data
and drive meaningful business outcomes.”
The survey reveals insightful data on how leaders feel and what
they are doing to address the opportunity that unstructured data
and GenAI enable:
- Data privacy and compliance
concerns dominate: 59% of respondents are very concerned
about data privacy and 47% about regulatory compliance,
significantly outweighing concerns about ROI (19%).
- Integration and cost are top
priorities when evaluating vendors: When evaluating
vendors, system integration (55%), cost (50%), and governance
features (49%) are top priorities, whereas vendor reputation is a
low priority (16%). Respondents expect modest financial gains from
using unstructured data, with 45% anticipating a 10%-20%
improvement in their top or bottom lines.
- Interest in GenAI is high,
but significant investment is lacking: Among those
interested in using GenAI for unstructured data, two out of three
respondents plan to invest in an GenAI tool for unstructured data.
Despite widespread interest, only 22% of all respondants indicate
they are making “significant” investments in AI technologies.
- Unstructured data is seen as
a key driver for efficiency: A clear majority (62%) see
the opportunity in unstructured data to improve operational
efficiency, while only 31% believe it can drive innovation. Nearly
half (45%) describe a use-case involving better search and query
tools to dig into internal documents.
- Traditional search tools
fall short for unstructured data: There is strong
agreement that traditional enterprise search tools are insufficient
for maximizing the value of vast document libraries. Only 16% have
already purchased a tool designed to deliver insights from
unstructured data, and most efforts remain in early or pilot
stages.
“The findings from our survey underscore a critical challenge
facing enterprises today: the gap in expertise needed to harness
the full potential of generative AI for unstructured data,” said
Erik Bradley, Chief Strategist & Director of Research at
Enterprise Technology Research. “While the appetite for leveraging
unstructured data is high, the lack of specialized skills and
appropriate tools is a significant barrier. To truly capitalize on
the opportunities presented by GenAI, organizations must invest in
bridging this knowledge gap and integrating advanced AI
capabilities seamlessly into their existing analytics
frameworks.”
The “Unstructured Data and GenAI Survey,” executed in April 2024
by Enterprise Technology Research (ETR) on behalf of Qlik, surveyed
200 enterprise technology decision makers across multiple
industries. For more information and to see the full survey
results, visit
https://www.qlik.com/us/resource-library/unstructured-data-benchmark-report
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About ETREnterprise Technology Research (ETR)
is a technology market research firm that leverages proprietary
data from its targeted technology decision maker community to
deliver actionable insights about spending intentions and industry
trends. Since 2010, ETR has worked diligently at achieving one
goal: eliminating the need for opinions in enterprise research,
which are typically formed from incomplete, biased, and
statistically insignificant data. The ETR community of technology
decision makers is uniquely positioned to provide best-in-class
customer/evaluator perspectives. ETR’s proprietary data and
insights from this community empower institutional investors,
technology companies, and technology decision makers to navigate
the complex enterprise technology landscape amid an expanding
marketplace.
About QlikQlik converts complex data landscapes
into actionable insights, driving strategic business outcomes.
Serving over 40,000 global customers, our portfolio provides
advanced, enterprise-grade AI/ML and data management. We excel in
data integration and governance, offering comprehensive solutions
that work with diverse data sources. Intuitive analytics from Qlik
uncover hidden patterns, empowering teams to address complex
challenges and seize new opportunities. Our AI/ML tools, both
practical and scalable, lead to better decisions, faster. As
strategic partners, our platform-agnostic technology and expertise
make our customers more competitive.
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associated.
Contact: Keith Parker
keith.parker@qlik.com512-367-2884