Understand data management from the perspective of Web3, privacy and business growth

Ever wondered about the power of data? Well, from driving innovations to educating machines and delivering relevant insights, managing data has become a crucial part of many businesses, especially as the world moves towards Web3 development. But ensuring the privacy of data to understand the needs of customers is the need of the hour.

To understand the depth of data management, and how to scale overall performance especially when organisations are moving to decentralised forms of services for their data management needs, our team reached out to Nicolas Sekkaki, Global Practice Leader for Applications, Data, and AI, at Kyndryl.

How can businesses leverage data to train AI in a better way?

The consumer market plays a vital role in AI development. Businesses use consumer data to educate machines, drive innovation, and gain valuable business insights. Continuously providing high-quality data ensures that machines remain updated and deliver relevant insights. Having an AI model is like hiring employees for an organisation. Just as organisations invest in training and keeping employees updated with knowledge and skills, businesses must do the same for AI. Neglecting this can impact workforce performance and the company's overall performance, and to scale AI, businesses must focus on data. Kyndryl assists companies by enhancing data governance, a missing component for consumers. It is a feedback loop between enterprises and consumers during the data exchange process.

Most companies are sitting on a large set of data but are not able to utilise it. How can they maximise the value of their data without compromising on privacy?

When it all started, the applications were valued more than the data because the application was the way to implement processes in the company. A couple of years ago, we realised the real value of data. You can have the best applications on the planet, but you need valuable data to extract the full potential from the applications. Therefore, we started to realise that data is powerful. And with valuable data comes the question of privacy.

Now, consumers initially were being irresponsible with their data, and we were trading their privacy for free services, and to some extent, we still do. It was important for the enterprises and the government to help spread public awareness and ask the consumers about their data usage. People still don't realise how powerful data can be when harvested the correct way, and the fact that they become a product when the enterprises start gathering their personal data such as who they are, what their habits are, likes, and what their purchase decisions depend on, to drive their businesses.

That said, the awareness about privacy has been rising across the globe, the authorities have started taking charge, and consumers are now informed about the kind of data they are giving out and asked if they are willing to give it out. Data is a goldmine, and consumers must decide where they want their data to sit, whether in another country or with businesses and service providers they trust enough. As a company, the most important thing to understand is that data is like an unrefined natural resource. So, it is crucial to determine what kind of data needs to be harvested, in what way and what needs to be protected. At Kyndryl, we assist our customers in achieving their goals through data modernisation and data platform management.

Ensuring that relevant data is accessible to people within the company and the relevant stakeholders helps them familiarise themselves with the underlying foundation of the business and the tools at hand. It is what we define as data literacy. Kyndryl's latest flagship tool, Data & AI Console, helps customers understand data observability and quality and encourages data literacy. We consider data as the blood of innovation, and we design our tools keeping that in mind.

Web3 is being touted as a democratic version of the internet where the user data belongs to users. In such an ecosystem, what role do you see data companies playing?

Data companies in a Web3 ecosystem may shift from solely centralising data to becoming trusted custodians, facilitating data aggregation with explicit user consent, ensuring data security and compliance, and enabling fair and transparent data monetisation.

How is Kyndryl adapting to the changing trends in data management especially when organisations are moving to decentralised forms of services for their data management needs?

In a Web3 ecosystem, the emphasis is on user data ownership, and the role of data companies could undergo significant changes. Rather than solely centralising data, there is a holistic and hybrid approach to data management. It involves on-premises infrastructure, cloud services, and software-as-a-service (SaaS).

At Kyndryl, we aim to ensure efficient and secure operations across this hybrid environment. Understanding the critical applications that consumers rely on, such as banking transactions, is crucial in this context. Consumers need to be able to access their funds securely and be assured that transactions are auditable, regardless of the data storage location - on the cloud or on-premises.

It highlights the foundation of a hybrid infrastructure, applications, and data. Kyndryl supports the consumer market by managing these mission-critical applications, fostering centralised governance and providing a comprehensive ecosystem view.

How important is India as a market for your company? How have you been able to customise your services to cater to Indian consumers?

In my global role, I have observed different dynamics across the globe. What I find common is that we serve a market in India and the rest of the world, comprising the top 4,000 customers globally. Our core focus is running their mission-critical application infrastructure and assisting them in modernising while ensuring operational continuity.

This forms the backbone of Kyndryl's services, whether in India or elsewhere, and we have gained recognition for this expertise. However, one key difference I have noticed with the Indian market compared to other regions is their forward-looking approach. Indian businesses embrace technology and explore new possibilities. The emphasis is on finding innovative ways to leverage technology rather than fearing job displacement.

This outlook raises essential questions such as whether technology adoption creates more jobs than it eliminates, how to gain a competitive advantage, and the willingness to experiment with novel approaches. India's dynamic market encourages innovation without hesitation. Recognising the potential and significance of the Indian market, I spend considerable time here every three months. Many of my global Data & AI team members reside in India, and I dedicate a significant portion of my time to understanding and engaging with the domestic market.

With exceptional and abundant talent, India represents a competitor in terms of applying technology in innovative and efficient ways. The Indian market demands timely and cost-efficient delivery of solutions, pushing us to provide innovative answers while maintaining cost-effectiveness. Our success in India is a foundation for scaling our business model globally, utilising the skills and knowledge we have acquired in the Indian market.

Kyndryl recognises the significant potential of the Indian market due to its innovative and dynamic nature, along with a strong emphasis on efficient delivery. This environment allows a perfect ground for developing business models applicable to the world. Therefore, India serves as a great place to build the business and a launchpad for scaling our services globally.

How does the advent of 5G and faster processing hardware change the way data will be managed in the future?

5G has enabled us to connect sensors and have machines communicate with other devices more efficiently. With the help of 5G technology, we can expect significant advancements in data management, including predictive maintenance and streamlined automation of routine tasks.

AI is also becoming more integrated into our daily lives, using high-end hardware to process data and power AI capabilities. It opens up new possibilities for AI applications in various software programs. With Data and AI literacy, innovation will see rapid growth resulting in a boost in businesses of organisations adopting and truly utilising these powerful tools.