Research highlights urgent need for expert knowledge to leverage Generative Artificial Intelligence on unstructured data 

A QLik, a global company in data integration, analytics and Artificial Intelligence (AI), announces new research that reveals that while companies recognize the significant potential of unstructured data to improve operational efficiency and generate meaningful insights, many are struggling to effectively leverage this capability. Research shows that lack of knowledge and insufficient tools are the main barriers, with only a small percentage of companies devoting more than a quarter of their AI budget to unstructured data initiatives. 

“With many sources citing that unstructured data represents 80% of the world's data, it's no surprise that business leaders want more real value from this untapped” resource, said Brendan Grady, General Manager of Analytics at Qlik. “However, our research highlights that nearly 70% agree that their organization is not well equipped to understand how Generative AI can be harnessed into their unstructured data.” 

“Companies are looking for solutions that enable the adoption of Generative AI without requiring the redesign of their existing skill sets and technology stacks. The opportunity lies in finding ways to integrate AI seamlessly into today's analytics environments, enabling organizations to extract the right answers from unstructured data and generate meaningful business outcomes” 

The research reveals insightful data on how leaders feel and what they are doing to address the opportunities offered by unstructured data and GenAI: 

– Concerns about data privacy and compliance are prevalent: 59% of respondents are very concerned about data privacy and 47% with regulatory compliance, significantly overcoming ROI concerns (19%).  

integration and cost are the top priorities for evaluating suppliers: When evaluating vendors, system integration (55%), cost (50%), and governance capabilities (49%) are top priorities, while vendor reputation is a low priority (16%). Respondents expect modest financial gains from using unstructured data, with 45% predicting an improvement from 10% to 20% in their revenue or profit. 

io Interesse na GenAI is great, but significant investment is missing: Among those interested in using GenAI for unstructured data, two out of three respondents plan to invest in a Generative AI tool for unstructured data. Despite widespread interest, only 22% of all respondents indicate they are making significant“ investments in AI technologies. 

''Unstructured data is seen as an essential factor for efficiency: A clear majority (62%) see unstructured data as an opportunity to improve operational efficiency, while only 31% believe it can drive innovation. Nearly half (45%) describe a use case that involves better search and query tools for searching internal documents. 

Traditional search tools are insufficient for unstructured data: There is strong agreement that traditional enterprise search tools are insufficient to maximize the value of vast document libraries. Only 16% have ever acquired a tool designed to provide insights from unstructured data, and most efforts remain in early or pilot stages. 

“The results of our research highlight a critical challenge that companies currently face: the knowledge gap needed to harness the full potential of Generative AI for unstructured data”, says Erik Bradley, Chief Strategist and Research Director at Enterprise Technology Research. “Although the appetite to harness unstructured data is large, the lack of specialized skills and appropriate tools is a significant barrier. To truly capitalize on the opportunities presented by Generative AI, organizations must invest in bridging this knowledge gap and integrating advanced AI capabilities into their existing analytics frameworks” 

The “Unstructured data research and generative AI”, conducted in April 2024 by Enterprise Technology Research (ETR) on behalf of Qlik, surveyed 200 enterprise technology decision makers across multiple industries.For more information and access to the full survey results, please visit https://www.qlik.com/us/resource-library/unstructured-data-benchmark-report