The Visionary's Guide to the Digital Future Paul Lima

Welcome back to The Visionary's Guide to the Digital Future, where we delve into the most recent insights on data leveraging, emerging technologies, and predictions for the digital future. 
In this episode's three segments, we explore the realm of generative models such as ChatGPT, discuss how to utilize the potential of data, break down the data maturity model, and offer real-life examples to assist senior leaders in harnessing its value.
ChatGPT and other generative models have revolutionized the way we access information from vast libraries of data, but determining the source of information and its accuracy is becoming a pressing issue.
While some debate who should be allowed to use these tools, the more important question is how we can trust the information generated by them.
In our Quick Hit segment, we dive deep into the data maturity model and its five stages. We explore how organizations can progress through the continuum of data maturity to unlock the power and potential of their data.
Finally, in our Decision Makers' Advantage part, we'll be exploring a case study on how one company monetized the data readiness maturity model to create winning customer experiences. 
During the journey of a fictitious company called Tech X, you’ll see how investing in digital fitness can advance the customer experience at scale.
Join us for this insightful and informative episode. Don't miss out on the opportunity to stay up-to-date with the latest digital strategy trends and gain a competitive edge in the marketplace.

Key Takeaways:
Intro (00:00)The Digital Pulse: Why ChatGPT is turning digital future upside down - vital stats (01:21)What GPT stands for (03:56)The digital card catalog model vs. a tool that provides THE answer (08:06)The ability to ask a question - more important than ever (13:12)What is the next stage of maturity for machine learning? (15:41)How can educators use ChatGPT and apply countermeasures? (22:26)The Quick Hit: The five stages of the data maturity model (31:22)#1 The descriptive stage (33:13)#2 The diagnostic stage (37:37)#3 The predictive stage (42:22)#4 The prescriptive (50:42)#5 The cognitive (54:36)The Decision-Makers Advantage: Digital maturity - a real-life example (01:00:04)A comedy of errors that could have been avoided (01:01:42)When a company doesn’t understand the value of its data (01:08:17)CRM solution - the power of digital transformation (01:10:25)Marketing’s contribution to sales (01:16:00)Data powers decisions - summary (01:19:43)
Quotes:
“The superpower that educators should teach, innovators should aspire to, and leaders should inspire is encouraging us to ask better questions.” - Paul Lima (13:37 - 14:21)
“Innovation doesn't mean the same thing as invention ... It's essentially the difference between creation and application. A similar analogy could be set of knowledge and wisdom - to know and to do.” - Paul Lima (16:59 - 17:24)
“The next phase of maturity will happen when the machine intelligence begins to develop answers and research questions that have yet to be asked by us.” - Paul Lima (17:25 - 18:19)
“Generative models are here to stay - everybody will be using them soon. However, just as in the craft of espionage, the question is how receivers of the information can determine its source and whether they can trust what it says.” - Paul Lima (25:02-26:00)
“We shouldn't be modeling behavior that we fear innovation (such as ChatGPT and other AI tools). To make a better digital future, we shouldn't arrest change. … The change is happening anyway, so let's make sure that we're not on the wrong side of history on this one.” - Paul Lima (30:19 - 31:24)
“Data has to be processed to give it context. And with that context, it's no longer a raw commodity. It becomes something more valuable - information.” - Paul Lima (44:03 - 44:13)
“The most powerful weapon on an Abrams tank isn't the 120-millimeter smoothbore cannon. It's the engine. And it's the same t

Welcome to The Visionary’s Guide to the Digital Future podcast, hosted by Paul Lima, the Managing Partner at Lima Consulting Group.
This podcast is for the visionaries of today who are charged with creating the digital experiences of tomorrow. It’s an indispensable resource for digital transformation leaders and offers insights on the latest industry news and practical strategies that will help you create winning customer experiences.
Each episode features three segments:
Digital Pulse - provides leadership perspectives and insider insights on industry news
Quick Hit - provides practical training to help keep you fresh and current with the strategies and techniques needed to lead your staff and create winning customer experiences.
Decision-Makers Advantage - discusses topics with industry veterans to unlock professional judgment and help accelerate business objectives.
Our first season is all about data.
On Digital Pulse, we explore the Adobe acquisition of Figma and why it will take decades to return on the investment for investors.
On The Quick Hit, we explore the impact that data is having in our society, our companies, and even in our 401 Ks.
In The Decision Makers Advantage segment, we're talking about transitions of power from oil to data.
Around 2016, big oil lost its crown to companies whose underlying value is measured in the size of their database. The powerful analogy between oil and data helps Paul illustrate the power of data in the digital revolution, how organizations can leverage data to improve decision-making, and the refining process of data governance.
He also shares a cautionary tale that is a recurring theme about investing in innovations and the roadblocks innovators encounter, using the shocking example of JP Morgan's own father the night that electricity was first installed in a private residence. It’s a shocking story (pun intended)!
Join us for practical insights and expert perspectives on using data. Let’s pave the way to the digital future together!

Key Takeaways:
Who we are (00:00)Introducing the 3 Segments of our Show (00:30)The Digital Pulse: The Adobe acquisition of Figma - vital stats (02:31)Why did Adobe overpay? (04:10)The Quick Hit: Data impact (07:06)The oil industry and the transition of power (08:41)An shift in market cap from oil to data (09:25)How the value of the data should be treated (11:14)The Decision-Makers Advantage: Transitions of power from oil to data (13:05)A recurring tale about investing in innovations (13:54)How the industrial tycoons protected their monopolies (16:11)How data fuels decision-making (19:26)Creating value from data in the future (21:31)The definition of data (22:11)The ethics related to data (22:25)Why every industry is now in Information Science (22:55)The ways your organization can use data to add value (23:10)The cautionary tale for digital visionaries (24:42)
Quotes:
“Data is greater in value than all but one asset. And it's always more valuable than cash.” - Paul Lima (11:32 - 12:06)
“Data should be treated as the valuable asset that it is. Indeed, it's the core asset for why the new titans of industry dethroned Big Oil.” - Paul Lima (12:40 - 12:53)
“John D. Rockefeller, considered by most as the wealthiest person in history, was about twice as rich as Elon Musk. But in terms of the maturity cycle of data, we are still in the early innings. This means there is significant potential for growth in companies that monetize data.” - Paul Lima (13:23 - 13:46)
“If Junius Spencer Morgan, who was JPS's own father, couldn't recognize the value of electricity, why do you think your board of directors will value your digital transformation initiative?” - Paul Lima (14:51 - 15:10)
“Oil powers machines. It powered the first three industrial revolutions. And data powers decisions - it powers the digital revolution.” - Paul Lima (19:30 - 19:58)
“In order to power a machine, oil is refined. Similarly, in order to power a decision, data

If the best way to predict the future is to invent it, then let's get you ready to do just that.
Welcome to the podcast! My name is Paul Lima, and I'll be your host.
I'm so happy that you're here with us.
This podcast is created for the visionaries of today, who are charged with creating the digital experiences of tomorrow.
Join me as I break down the leading trends of the digital world, as well as share intricate insights on strategy, data science, business intelligence, digital marketing, and technology to help you lead the digital transformation of your organization.
Hope to see you soon!