In the age of #AI and partnerships, data holds an 💰 unprecedented value. However, are we fully leveraging it? Currently, a mere 19% of companies exploit the benefits of data collaboration with partners.
This is a trend that's set to change dramatically.
💡 Yesterday, I had an insightful conversation with Scott Brinker, the godfather of #martech and HubSpot's VP of Platform Ecosystem.
He underscored an important point during his LXA (formerly MarTech Alliance) keynote - the secret to leveraging AI lies in pairing sophisticated models like ChatGPT with specific domain data sources. Case in point, ChatSpot, operating atop Hubspot's CRM.
Today, we live in a data explosion era. To harness AI's true potential, companies must effectively utilize their data. In this scenario, sharing and collaborating on data with partners is not just an opportunity—it's a necessity.
🎯 Yet, the Accenture research sheds light on an intriguing fact: 4 out of 5 companies have significant untapped data value and partner collaboration potential.
The study involved C-suite executives from 700 global companies and discovered that only 19% of these companies have a data strategy for seamless ecosystem collaboration.
📍 A mere 1 in 5 companies:
Shares data responsibly with partners, thus monetizing it directly for revenue and indirectly to bolster collaboration and new business models with partners.
Has a data strategy shaping their broader business and ecosystem strategy.
📈 By 2024, we're likely to see a shift—48% of companies are projected to have a data strategy fostering seamless collaboration within their ecosystems.
Also check out our episode with Scott where we discussed the explosion of data among other things (links in comments). Even though that one was a pre-GPT, new episode is coming soon with latest updates.
Research source.