A new global survey has found that data quality remains the top challenge with AI. However, organisations with more mature information management (IM) strategies are 1.5x more likely to realise benefits from AI than those with less mature strategies.

The AI and Information Management Report surveyed over 750 digital workplace leaders across the world, of which 20% were from APAC. It was undertaken by the Association for Intelligent Information Management (AIIM) and the Centre for Information Policy Leadership (CIPL).with AvePoint.

It found in addition:

- Before implementing AI, 71% of organisations were concerned about data privacy and security, while 61% were concerned about quality and categorisation of internal data.

- Fewer than half have an AI Acceptable Use Policy, despite widespread use of publicly available generative AI tools (65% of organisations use ChatGPT and 40% use Google Gemini today).

- When implementing AI, 45% of organisations encountered unintended data exposure, meaning one of their biggest concerns became reality.

"Unsurprisingly, data privacy and security were among the top concerns for organisations before implementing AI,” said Dana Simberkoff, Chief Risk, Privacy and Information Security Officer, AvePoint.

“The reality is that not enough organisations have the proper policies in place today, which exposes them to risks that could be mitigated, if they better protect and govern their data and educate their employees on the safe usage of this technology.”

The survey exposed contradictions in organisations’ perception of readiness for AI compared to their reality. Many companies experience gaps in data readiness and information management that have already or will pose significant obstacles to safe and successful AI implementation.

- 88% of organisations report they have an IM strategy in place, but 44% lack basic measures such as archiving and retention policies and lifecycle management solutions.

- Just 29% of organisations use automation in most aspects of their IM strategy. But data volume is growing, with 64% of organisations managing at least 1 petabyte of data and 41% managing at least 500 petabytes of data.

- When implementing AI, 52% of organisations faced challenges with internal data quality.

“The amount of data companies are generating and must manage is growing rapidly, and this will only accelerate as more organisations utilise AI technology,” said Alyssa Blackburn, Director of Information Management, AvePoint. “If organisations don’t establish or adapt their information management strategies, the challenges they are already facing will be exacerbated by AI. The good news is, 77% of organisations recognise they must implement additional strategies to keep pace with AI, which is a promising step in the right direction.”

Additionally, effective IM strategies can lead to a meaningful return on AI investments, according to the survey.

Organisations with mature IM strategies are 1.5x more likely to realise benefits from AI than those with less mature strategies.

Despite this correlation, not enough organisations acknowledge the value of information management in AI success, with only 17% recognising a robust IM strategy as the most effective way to ensure ROI on their AI investments.

This year, organisations are significantly increasing their investments in AI, with 83% planning to increase their AI spending and 79% investing in licensed AI such as Copilot for Microsoft 365. In addition, 60% of organisations plan to allocate at least a quarter of their technology budget to AI in the next 5 years. However, less than half of organisations (46%) offer AI-specific training, hindering their employees from safely using and optimising this technology.

To read the full AvePoint AI and Information Management Report, visit avpt.co/AI-report-2024