It’s been said that “data is the new oil”🪔- and that is certainly the case with the growing prevalence of AI solutions.

The need for incredibly large sized datasets – and high-quality data – is vitally important to help train AI algorithms and to properly fuel AI.

In fact, data and AI are a dynamic duo. They are like a modern-day Laurel & Hardy, Batman & Robin, John Lennon & Paul McCartney, Bert & Ernie, and Laverne & Shirley – they need each other to be highly successful.

In this recent highly informative article from The Economist entitled, “AI is Setting Off a Great Scramble for Data,” it states that “A data land grab is under way…Demand for data is growing so fast that the stock of high-quality text available for training may be exhausted by 2026, reckons Epoch ai, a research outfit.”

Some of the other key 🔑 points from this article are as follows:

©️ As the demand for data rises, potential copyright infringement claims will also rise.

📈 There is a significant increase in the number of deals to help secure viable sources of data.

ℹ️ Don’t forget about your company’s own vast internal sources of information like unstructured datasets.

As you develop an AI strategy, make sure that you also focus on data, data and more data – especially since every organization is a data organization.