Content Chaos: Inside the Aussie Information Hyperinflation
- By CDOTrends editors
- March 26, 2024
An Australian survey of nearly 400 information management professionals at the country’s largest enterprises has revealed they are fighting information overload and that AI is both a problem and a potential solution.
The IBRS Report by EncompaaS, entitled Content Recognition to the Rescue in the Age of Information Hyperinflation, found that the overwhelming growth of new data and information sources could hamper information managers' ability to meet their organization's privacy, security, and compliance requirements.
A key finding of the study is that while integrating AI in the enterprise was perceived to have risks, it was also recognized that specific AI-empowered solutions, particularly content cognition, could be used for improving compliance, adhering to privacy and security regulations, and ensuring data protection.
“In this study, information management professionals indicate that new approaches are needed to deal with the sheer scale of the data problem as they strive to ensure compliance,” said Dr. Joseph Sweeney, global research director at IBRS.
“There is a growing belief that artificial intelligence (AI) tools specifically designed to automate their routine tasks could help manage the impact of information hyperinflation effectively.”
The survey was based on interviews with 381 senior information and technology specialists involved in managing the information assets of Australian organizations. It sought to understand the impact of information hyperinflation and the role of AI-based 'content cognition' in solving these issues.
According to IBRS, content cognition is an indispensable solution that describes how AI algorithms are coming together to address the task of managing information at a scale humans simply cannot match.
Key data points from the study include:
- The highest-rated challenges facing information management professionals include meeting privacy, security and compliance requirements (49% rating a significant or greater challenge) and managing information across multiple locations or sources (51%).
- Only 28% of information management professionals were confident that they “are managing the ever-increasing volume of new information well.”
- 25% of information management professionals are certain AI will significantly impact their jobs, and 56% stated AI could dramatically impact their roles.
- 29% of organizations are already considering or experimenting with AI-empowered information management tools.
- 50% said extracting value and insights from unstructured information was one of their biggest challenges, while 52% identified contracts as a high priority.
Image credit: iStockphoto/EuroChild