Today, companies everywhere are generating unprecedented amounts of data. While data has always grown naturally as a byproduct of economic and business activity, these days, as more and more of our personal and work lives take place online, humans are creating an abundance of data daily. In fact, 90% of all the world’s internet data has been created since 2016.
4 Steps to Start Monetizing Your Company’s Data
AI is no longer a luxury accessible only to big tech companies.
September 27, 2022
Julia Potato/Stocksy
Summary.
As artificial intelligence becomes ubiquitous in business, non-tech companies need to learn how to use their data to gain a competitive edge. Companies that are trying to decide where and how to use AI should take four steps: 1) survey the data they have and how other companies are generating and using data, 2) look for data- and AI-focused companies, such as startups, that can help jumpstart your data strategy, 3) buy, don’t build, and 4) start building a data moat.