Event
Transform 2023
Join us in San Francisco on July 11-12, where top executives will share how they have integrated and optimized AI investments for success and avoided common pitfalls.
Register Now
Snowflake Inc., the cloud-based data platform, has unveiled its 2023 Data Trends report, revealing a focus on artificial intelligence (AI) as the key technology influence shaping businesses decisions in the near future.
Snowflake’s Chief Information Officer Rich Cohen shared the findings of the report during this year’s AWS re:Invent conference. He explained that businesses are now turning to technology such as AI and machine learning to gather insights from their data more efficiently and to derive maximum value.
The report noted that these technologies are increasingly being adopted in the field of data science and engineering, to automate tedious tasks and to glean proactive insights from large datasets. With the help of AI, businesses are being able to mitigate the risks associated with decision-making and obtain more accurate outcomes.
Moreover, the report stated that AI is allowing companies to build a ‘single source of truth’ by providing AI-powered ledgers that make it easier to store and access data in one place. It also becomes simpler to trace back the entire data trail to identify potential errors or anomalies.
According to the report, AI-driven data intelligence will help ease the process of ‘data-driven decision-making’, with organizations utilizing AI to better predict and anticipate customer needs and anomalies in the market place.
The report concluded that businesses that prioritize leveraging AI in the near future will reap the rewards in terms of improved productivity, greater accuracy and deeper insights. Snowflake CIO Rich Cohen said that AI represents the backbone of data trends for the foreseeable future, and is the foundation for any successful data strategy.
