Driven by Data | The Newsletter, Edition 78

What a week it has been! With our Q3 event last week, launching our Culture of Data Report this week, an upcoming LinkedIn Live event next month and we have so much more coming your way very soon! Stay up to date with the latest and read on below.

Driven by Data | The Podcast

In Episode 45, of Season 4, Kyle Winterbottom was joined by Tony Zona , the Chief Data Officer at Grant Thornton UK LLP , and they discuss how to translate the language of data to create a unified language, which includes operating for 25 years in the same organisation, being a translator in his personal family life, why coming from a non-traditional background has been a huge benefit for his career

Listen to the full episode here:

The Culture of Data Report

In case you missed it, yesterday we released a highly anticipated report that we have been working on for a while. Earlier in the year, we ran a series of surveys and interviews where we asked CDAOs and, where applicable, the people within Data & Analytics teams who are responsible for culture-related initiatives, to assess the current landscape around how organisations are driving a culture that values data.

We've produced a report based on these findings, and we are excited to share this report with you! The report also features a special interview with Anna X. Wang , Head of AI at Multiverse , where we talk about how we can address the AI skills gap! 

Thank you to our contributors Anna X. Wang , Tom Spencer , Kinnari Ladha & Dan Kellett !

Upcoming LinkedIn Live event: Putting the 'C' in CDO

Join us next month for an insightful LinkedIn Live event to uncover why the average tenure of a CDO is still circa 2 years, and why only 1 in 3 data leaders feel “very confident” in their ability to communicate the business impact of investments in their function and why only 50% of data leaders are tracking the business value that data and analytics provide.

🗣 Speakers:

• Simon Ferriter , CEO, Anmut
• Kinnari Ladha , Global Chief Data Officer, Merlin Entertainments
• Martin Houghton , Group Data Director, Kier Group

Expertly hosted by Kyle Winterbottom , this dynamic panel will delve into this discussion and discover the ins and outs of this issue.

Register now, save the date and mark your calendars for this can't-miss event!

Our Q3 event round-up

And another roundtable event for 2024 is in the bag! Last week, we had the pleasure of hosting our Q3 Roundtable event in London, and it was fantastic! These events are all about bringing Data & Analytics Leaders together in a relaxed, welcoming space to share ideas, knowledge, and experiences.

Our roundtable discussions are always shaped by the people in the room, and this one was no different. Each table is guided by an industry leader, leading the topic conversation with the rest of the table.

Check out some of the highlights below! We’ve included a few photos that capture the energy of the evening.

Kyle Winterbottom at Travel & Hospitality Chief Data Officer Exchange on Thursday

Are you going to the Chief Data Officer Exchange event in London this week? If you are, don't miss Kyle at noon on Day 2 alongside a panel discussing the travel and hospitality sector and how it faces unique challenges in building strong data teams, as employees must possess both technical and business skills. Companies often struggle to attract candidates interested in the industry or find senior leaders with the right mix of technical expertise and experience. With top talent in short supply, it's vital to adopt innovative talent acquisition strategies, such as recruiting overseas, partnering with universities, or using incubator programs.

The panel includes:

• Matt Lovell - Global Head of Data and Insight, Pret A Manger
• Dean Clyne - Head of Data & Analytics, MAG (Airports Group)
• John Bartlett - Head of Performance Insight & Excellence, IHG Hotels & Resorts
• Paula Tighe - Head of Data Governance & Compliance (UK and Ireland), National Express LTD

Upcoming announcements

Exciting things are happening at Orbition HQ, and we have some major announcements coming your way soon! Our team has been hard at work behind the scenes on a few big projects and campaigns that we’re incredibly excited about. We’ve poured a lot of creativity, thought, and passion into these initiatives, and we’re confident they’re going to be game-changers for our community.

Whether you’re a long-time follower or new to what we do, we think you’re going to love what’s coming next. Stay tuned—it’s going to knock your socks off!

Driven by Data: The Mentorship

Cohort 8 Kicking Off in November 2024!

Over the years, we’ve been blown away by the incredible response from both mentees and mentors, and we’re excited to continue this journey. This free programme connects participants with world-class mentors—industry thought leaders, business executives, published authors, and keynote speakers who are helping shape the future of data and analytics globally.

We’re now looking for experienced senior leaders in data & analytics to join us as mentors!

As a mentor, you’ll have the chance to:

• Shape the future of the data analytics industry
• Share your knowledge and experience with enthusiastic learners
• Grow your network with other top leaders and emerging talent in the field

Here's what mentor John Thompson had to say about the programme:

Interested in making a difference? We’d love to have you onboard! Click on the link below to find out more and apply.

How GenAI Can Drive Value in the Banking World

At Orbition Group we’re interested in the evolving role of AI in the business world, and Gen AI is no exception. In this year's most popular episode so far, Zachery Anderson , Chief Data and Analytics Officer at NatWest Group , shared fascinating insights into how Gen AI is reshaping banking.

Why Gen AI is Different

We’ve all seen tech trends come and go, but Zachery highlights something crucial: Gen AI isn’t just another phase. What makes it stand out is its wide-reaching potential for real-world applications and its ability to capture public attention in a way that few other technologies have. While we’re still in the early days of Gen AI, its ability to transform everything from customer interactions to back-end operations means banking is poised for a significant shift.

NatWest’s Early Investment in Gen AI

He explains how NatWest has been ahead of the curve, diving into Gen AI long before the public hype around tools like ChatGPT. The bank started experimenting with smaller language models while making sure robust security measures were in place to protect sensitive customer data. Anderson stressed that security remains a top priority as they explore the innovative possibilities of AI.

The Human Touch is Still Key

While Gen AI holds immense promise, Zachery makes an important point: AI should enhance human roles, not replace them. At NatWest, they’re using a “human-in-the-loop” approach, where AI works alongside human experts to ensure accuracy, ethics, and effectiveness. This hybrid model allows organisations to leverage the power of AI while maintaining control over critical decisions.

Looking Ahead: The Future of AI in Banking

Zachery predicts that in the not-so-distant future, large language models will become commonplace, interacting with each other and changing the landscape of content creation. He even suggests we may see a world where human-generated content is rare, and AI-generated material will need verification. It’s a bold vision of the future, but it reflects the direction Gen AI is heading.

Key Takeaways

1. Revolutionising Banking: Gen AI can transform banking operations, delivering efficiency and improving the customer experience.

2. Security First: Protecting customer data must be a top priority when implementing Gen AI solutions.

3. Human Collaboration: A human-in-the-loop approach ensures that AI works ethically and effectively alongside people.

4. Continuous Evolution: Organisations must regularly re-evaluate and adapt their Gen AI strategies as the technology develops.

5. Leadership Matters: As with any transformative technology, strong leadership and executive support are critical for successful adoption.

Challenges and Organisational Impact

Zachery discussed the various issues NatWest is facing, including security concerns, legal implications, and the cost of implementation. It’s also worth noting how Gen AI could reshape the organisational structure, especially the role of data professionals.

For data leaders, it’s essential to understand these challenges and work proactively to overcome them while ensuring Gen AI is implemented in a way that benefits both the business and its employees.

The Role of Data Leadership

Data leaders have a pivotal role to play in making Gen AI a success. He believes leaders must stay on top of AI developments and continuously invest in upskilling their teams. At Orbition, we’re big advocates of this, encouraging data leaders to foster a culture of learning and experimentation to fully unlock the potential of AI.

Encouraging Experimentation and Flexibility

In the podcast, Zachery highlights how important it is to remain flexible and open to experimentation when it comes to Gen AI. This mindset will help organisations uncover new opportunities for the technology, ensuring they stay competitive in an ever-changing landscape. Strong leadership is essential here, guiding the team through both the challenges and opportunities that Gen AI presents.

Embracing the AI Opportunity

Generative AI presents a massive opportunity for the banking industry, but it must be approached thoughtfully and responsibly. As Zachery and NatWest demonstrate, early adoption, a focus on security, and a clear strategy for implementation can help organisations harness the power of Gen AI while mitigating the risks.

By keeping a human element at the core of their AI strategy and focusing on practical, high-impact use cases, banks like NatWest are leading the way. Now, it’s up to the rest of us to follow suit.

And of course our weekly joke:

Why did the GenAI fail its job interview at the bank?

Because every time they asked about its weaknesses, it generated a perfect answer!

See you next time!