Last January 2023, Citibeats, a World Economic Forum Technology Pioneer, was in Davos, Switzerland, to attend the WEF Annual Meetingfor the second year in a row! Fond memories of our first World Economic Forum Experience last year came flooding back and we couldn’t wait to see what was in store.

By now, we are all familiar with the term “big data” — we read and hear about it everywhere — as it has become a prevalent concept in a variety of fields and industries, and rightfully so. 

There is a ton of information and digital insights available that can equip leaders to make informed decisions with confidence and meet their objectives in the most efficient, beneficial way possible.

But how data can be incorporated into the decision-making process will depend on a number of factors, such as your business goals and the types and quality of data you have access to.

The key is to leverage the right kind of data in an ethically responsible way, which can prove to be much more challenging than it seems. The good news is that the responsible use of big data is possible and available to decision-makers in the public and private sectors that are looking to identify and understand the needs and pressing concerns of citizens to make better-informed decisions.

Here we’ll dive deeper into the challenges, opportunities, and ways that big data can be leveraged by leaders and decision-makers.

The Artificial Intelligence Act

Some of you might have heard about the so-called EU AI Act, the Artificial Intelligence Act proposal presented last 21 April 2021.