Accuracy and Timeliness of Decision-making Go Hand-in-hand — Kroll CDO

(US & Canada) Samir Mehta, Chief Data Officer at Kroll, speaks with Gavroshe Chairman and CDO Magazine Editorial Board Member Derek Strauss, in a video interview about AI-driven decision-making, organizing data for AI use, and the key to success for a CDO.

Mehta believes that artificial intelligence is significantly enhancing the strategic decision-making process by reducing the time needed to reach conclusions. He notes that decisions that once took hours, such as those related to investments or client requests, can now be expedited by approximately 30% with the help of AI. This improved efficiency is a key goal for decision-making across the organization.

Elaborating further, Mehta explains that one of the key areas where AI adds value is particularly in reporting and analytics. By integrating AI into the assembly of management reports—which are critical for decision-making—the company can streamline the report-building process, further reducing the timeline by 30%. These efficiency gains are not just about time saved but also translate into financial returns, as the cost savings directly impact the company's ROI,

Mehta emphasizes that accuracy and timeliness in decision-making are interconnected and should be evaluated as a single dimension to capture quantifiable benefits. He suggests that an efficient decision-making process inherently addresses various parameters, including accuracy, timeliness, and other relevant factors that contribute to effective outcomes.

Sharing his thoughts on making sure the data is ready for AI use, Mehta says that the readiness goes beyond simple accessibility. According to him, factors like data accuracy, timing, and quality are crucial components of this readiness. He stresses that AI technologies are only as effective as the data they are built upon, underscoring the need for a strong data foundation. At Kroll, Mehta's approach prioritizes getting data right before integrating AI technologies, recognizing that a solid data foundation is essential for successful AI implementation.

When asked about the key to success for a Chief Data Officer, Mehta suggests keeping things simple and taking incremental steps toward progress. He emphasizes that the AI technology currently available is still largely unproven, with many organizations eager for results that are not yet widely evident. As a data practitioner, says that the scarcity of success stories indicates that these outcomes are still emerging.

CDO Magazine appreciates Samir Mehta for sharing his insights with our global community.