Are the fundamentals being overlooked while embarking on the Generative AI journey?

As Generative AI driven applications are rapidly being adopted in the digital world, organizations are racing to implement this technology into their IT landscape, but they need to prioritize securing the trustworthiness of the data being fed into the AI models.

The AI-driven technology advancement is being leveraged by organizations across sectors. However, effective deployment needs to answer two questions: Is the data ethical? Can the data be trusted? Hence, organizations aim to apply a Trusted AI framework, where guaranteeing design, governance, and supervision is constantly reminded. Diving deeper than these key blocks, we see data—one of the core drivers of Trusted AI systems.

As data exists in a range of complexity and types, different aspects of a Trusted AI system depend on different data. A common thread though is how important the quality of different data types is to the AI performance. Incorporated into each step, data is pivotal in determining the success of any system. Therefore, Trusted AI needs Trusted data, which means ensuring the fundamentals of the data handling process. Trusted data will reward organizations with advanced applications and long-term efficiency.

A combination between Data Governance, Data Quality, and Data Management lays the foundation for Trusted data. From the people to the processes to the infrastructure, data needs a secured environment to flow through to optimize support for AI systems. Besides this structure, organizations must also develop a cohesive mindset within themselves to properly introduce the Trusted data notion.

Trusted data must start from the fundamentals. Overlooking the basics may limit organizations from advanced execution. EY understands the importance of Trusted data and aims at a centralized data handling practice in any data and AI journey.

The banking market in Vietnam is observing increasing data-driven applications and data-focused legislations. Banks are embarking not on mere digitization but on enterprise wide digital transformation, encouraging defined data analytics teams and utilizing comprehensive data management. Decree 13/2023/ND-CP on Personal Data Protection guarantees personal data protection, requiring banks to revisit their data security measures. With secured data, banks can further digitally reinvent through advanced analytics and AI applications to enhance customer experience and expand customer base. The potential for the Vietnam banking market remains limitless, where much more data usage is waiting to be explored.