Tech & AI LIVE London – Marco Vernocchi Data & AI Strategy

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Marco Vernocchi of EY shared key insights on leveraging data and generative AI, focusing on strategic prioritisation and future-proofing

In his keynote at Tech & AI LIVE London (virtual), Marco Vernocchi, Global Chief Data Officer at EY, explored how organisations can effectively extract value from data in the age of AI. 

He begins by setting the context, highlighting EY’s global scale with over 400,000 professionals and US$50bn in revenue. Marco noted that the digital transformation journey must be accompanied by a clear strategy to manage the growing complexity introduced by generative AI (Gen AI).

“Gen AI is an additional operating model that has to be managed,” Marco explains, pointing out the increasing operational complexity for organisations across all sectors. 

To navigate this, he introduces five key dimensions: value, trust, intelligence, data, and technology. According to Marco, these dimensions are essential to harnessing the potential of Gen AI and ensuring its successful integration into business models.

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From value to future cases: Prioritising for success

Discussing the dimension of value, Marco emphasises the need for an “obsessive focus on results and sharp execution.” He shares that when he joined EY five years ago, the first task was to define a clear data strategy—an effort he described as requiring both speed and strategic foresight. This approach led to the principle of “value first,” which remains central in the evolving landscape of generative AI.

However, Marco cautions that traditional use cases often fall short when it comes to scalability. He introduces the concept of “future cases,” which focuses on imagining new possibilities rather than simply improving existing processes. 

Marco Vernocchi, Global Chief Data Officer at EY

Future cases, he explains, are more challenging to realise as they require vision, investment, and a willingness to challenge the status quo. “Future cases are the ones that, when successful, drive disruption in the competitive landscape,” he remarks.

To effectively prioritise use cases or future cases, Marco recommends considering factors such as time-to-market, business value creation, cost efficiency, and risk reduction. 

“Staying close to the business is crucial,” he stresses, advising organisations to maintain a strong focus on business outcomes rather than getting lost in technical details.

Data readiness and intelligence

Marco also touches on the complexity of preparing data for Gen AI applications, acknowledging that data is rarely fully “AI ready.” Instead, he advocates for a targeted approach where data readiness is focused on specific and well-defined use cases. This requires a balance between improving data quality and embracing the imperfections inherent in real-world business contexts.

He highlights the increasing importance of metadata and knowledge graphs in creating context and linking data from various sources. 

“Knowledge graphs help set the type of questions that can be asked,” he notes, explaining that their role in interconnecting relationships and semantics is essential for building effective AI solutions.

Marco Vernocchi, Global Chief Data Officer at EY

Building a trusted data fabric

Turning to technology, Marco discusses EY’s efforts to develop what he described as a “Trusted Data Fabric.” This architecture integrates independent platforms across the organisation through a semantic layer that manages metadata and data policies. 

He explains that a data fabric enables organisations to achieve value by sharing and connecting data in a secure and governed way.

However, Marco is clear that implementing a data fabric is not a straightforward task. He points out that the market offers fragmented solutions that must be carefully combined to achieve end-to-end integration. 

“It’s not a single product or solution available as is,” he says, advising organisations to invest in assembling the right combination of technologies for their needs.

In closing, Marco summarised the key principles that have guided EY’s journey, including the importance of value-first prioritisation, the role of future cases in driving innovation, and the need for a fit-for-purpose approach to data readiness.

He also emphasised the emergence of data fabrics and the central role of knowledge graphs and metadata in enabling AI applications.

Essential diary dates for 2024 and 2025

Discover the essential diary dates for Technology Magazine and its sister publications Mobile Magazine and Data Centre Magazine.

2024 dates:

2025 dates

  • Cloud & 5G LIVE | 4 February
  • Tech & AI LIVE London | 14-15 May 
  • Tech & AI Awards | 14 May
  • Tech & AI LIVE: Gen AI | 21 October
  • Tech & AI LIVE New York | 18 November
  • Data Centre LIVE | 2 December

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