Moderated by Amit Ray, Managing Director, Protiviti Member Firm for the Middle East, the discussion exhorted businesses to foster a data-centric culture, invest in advanced AI capabilities and empower Chief Data Officers (CDOs) to actively contribute to strategic decision-making.
Data transcends the realm of mere technology; it is in fact, the lifeblood of business.
In a collaborative initiative to delve into the pivotal role of Chief Data Officers (CDOs) in today’s dynamic business landscape, Protiviti, a global business consulting firm and leader in data management, analytics and AI, joined forces with Tahawultech.com to bring together a niche group of chief data officers, data enthusiasts, data governance and data science professionals for a roundtable discussion on The Data Driven Enterprise of 2030: The Evolving Role of a Chief Data Officer.
Attendees included Shailesh Jain of Landmark Group; Akshay Saraf of Majid Al Futtaim Retail; Syed Arif of Commercial Bank of Dubai; Gianpaolo Neri of Unifrutti Group; Arun Philip Palavilayil of Starbucks (Al Shaya); Imad Taha of Belhasa International Group; Sohail Shaukat of Fertiglobe; Firas Eid of Ministry of Human Resources and Emiratisation; Gyan Prakash Srivastava of Mashreq; Safdar Hussain of Banque Saudi Fransi-Digital Ventures; Vimal Mani of Bank of Sharjah; Bhawna Sajnani of GEMS Legacy School; Faten Abdullatif of Roads and Transport Authority; Budoor Al-Amoudi of Dubai Integrated Economic Zones Authority; Jorge Sans of ADNOC; Gary Zavaleta of Global Hotel Alliance, Debbie Botha of Dalebrook Media Middle East and senior Protiviti officials.
Facilitated by Amit Ray, Managing Director, Protiviti Member Firm for the Middle East, the conversation delved into various facets of the evolving role of CDOs over the past five years while touching upon key themes such as the centrality of data and the crucial role played by data and artificial intelligence (AI) in revenue generation.
Amit kickstarted the debate with a statistical observation that “the average tenure of a data leader in an organization globally, is less than 30 months.” Participants shared their perspectives on how expectations of stakeholders about CDOs have changed over time and how the responsibilities of CDOs have evolved rapidly in the last 5 years, expanding beyond traditional data management. While they agreed that the role of the CDO needed to be more clearly defined, they were unanimous about the fact that in the current data-driven era, CDOs are increasingly being perceived as strategic business partners, instrumental in driving innovation and shaping organizational strategies.
Participants also acknowledged the transformative power of data in shaping business outcomes. Underscoring the fact that data has touched every aspect of business today, the discussion emphasized the importance of cultivating a data-first culture, while viewing data as a strategic asset, not merely a byproduct of operations. The consensus was that organizations need to adopt a proactive approach towards data, treating it as a valuable resource capable of driving informed decision-making, enhancing customer experiences and fueling innovation.
The roundtable focused on uncovering the symbiotic relationship between data, artificial intelligence and revenue generation. Participants shared success stories and challenges, illustrating how data-driven insights and AI technologies have become integral to identifying new revenue streams, optimizing existing processes, and gaining a competitive edge in the market.
The deliberations concluded with key takeaways for organizations aiming to harness the full potential of their data and elevate the role of their Chief Data Officers. These included the imperative to foster a data-centric culture, invest in advanced analytics and AI capabilities, and empower CDOs to actively contribute to strategic decision-making.
Image Credit: CPI Media Group
