The increasing information overload or 'information hyperinflation’ in Australia’s largest enterprises could impact data privacy and security governance, according to Content Cognition to the Rescue in the Age of Information Hyperinflation by Intelligent Business Research Services (IBRS) and sponsored by EncompaaS.
“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.
Managing information
The study on 381 senior information and technology specialists involved in managing the information assets of Australian organisations revealed that their top challenges are meeting privacy, security, and compliance requirements (49%) and managing information across multiple locations or sources (51%).
Half of the respondents (50%) rated extracting value and insights from unstructured information as one of their biggest challenges, and 76% were interested in extracting data from unstructured information.
Around 32% of organisations lack or must recreate their information management policy.
Embracing AI
Only 28% of respondents say they “are managing the ever-increasing volume of new information well.” Around 29% of organisations are already considering or experimenting with AI-powered information management tools.
“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,” observed Sweeney.
Around 25% of respondents believe AI will significantly impact their jobs, and more than half (56%) said it could impact their roles.
“This comprehensive study reveals a path for information management professionals to address the growing challenges of information overload by embracing the transformative potential of AI technologies,” said Jesse Todd, CEO of EncompaaS.
He says organisations can maximise content cognition solutions to uphold data governance, innovation and automation.