CIO Asia speaks with Abhishek about AIA’s data transformation

CIO Asia is one the most trusted technology media publications in Asia and James Henderson from CIO recently spoke with Abhishek Sharma, Group Big Data Transformation Leader of AIA Group¬†about “Future-proofing businesses with strong data foundations“.

The talk focused on several key topics, including the challenges that existing data architectures face, data governance challenges, modern data architecture, best practices for bridging data gaps, and the evolution of data and analytics in the next two years.

Abhishek emphasised that data volumes are increasing at an unprecedented rate and global data generation is expected to grow to more than 180 zettabytes in the next five years, up from 2025.

Rapid growth is data volumes, velocity & variety is why existing data architectures are unable to cope with new data requirements. He explained that traditional data architectures are often siloed, inflexible, and unable to handle the massive amounts of data that organisations generate today. This creates challenges when trying to derive insights from the data and can hinder business growth.

He also highlighted the data governance challenges organisations are facing – with increasing regulations and the need to protect customer data, organisations must ensure that their data governance policies and practices are robust and transparent. This requires a multi-disciplinary approach, involving data scientists, data engineers, and legal and compliance experts.

Abhishek further added on what a modern data architecture looks like and how his teams at AIA Group are overcoming the challenges of traditional data architectures by implementing modern, scalable, real-time data platforms. He further explained that a modern data architecture is built on a foundation of flexibility, scalability, and interoperability, which enables organisations to handle large volumes of data, integrate data from multiple sources, and derive insights in real-time.

He also shared best practices for bridging data gaps to maximise BI and AI investments. He emphasised the importance of data standardisation with business teams are primary users to promote data culture, importance of managing data quality to ensure data is reliable and data governance in ensuring that data is secure, protected and compliant.

Lastly, Abhishek discussed how the data and analytics landscape is likely to evolve in the next two years. He predicted that there would be a greater focus on AI-powered analytics, with special focus on generative AI use cases. All of which will be possible only with stronger data foundations.

In conclusion, Abhishek’s talk with CIO Asia highlighted the importance of modern data architectures and robust data governance policies for future-proofing businesses. He stressed that organisations must invest in their data foundations sooner to stay competitive in the rapidly evolving data and analytics landscape.