Dragon Year. Data and AI - ARE YOU READY?

February 15, 2024

Dragon year is upon us—Gong Xi Fa Cai, Xin Nian Kuai Ler! As we welcome the auspicious energies of the Dragon, it's worth noting that 2024 marks a significant convergence: the year of Data Protection, Security, and Artificial Intelligence (AI).

In today's AI-driven age, businesses are faced with a stark reality: 73% are not adequately prepared for the transformative power of AI. This underscores the critical importance of prioritizing data in your organization. Building it up with a team of capable and trustworthy with protection and security infrastructure to secure them.

Business NOT ready for AI

So what needs to be done? If this is your first time thinking of this question, I will refer you to this article: Artificial Intelligence and Business

Many SME businesses really do NOT have an AI team, I get it. The fact remains, though, that you can build your data model with an external group of capable engineers focused on helping you understand your business data and make insightful decisions. This critical first step of your AI journey involves constructing the necessary data models to unlock the potential of AI within your organization.

With Data and AI, there is also an ongoing risk that you might already be aware of: Data Protection and Security. Many businesses take this quite seriously, and many already have some form of protection in place to help them. However, if you look at instances like the 23&Me data breach

you can see that data protection and security still have loopholes that could potentially bring significant business damage.

We need to understand what it takes to bring privacy and protection together and engage with data responsibly. Check out this article by Ai Lab on Responsible AI.


In conclusion, as we embrace and navigate the landscape of Data Protection, Security, and Artificial Intelligence, it's imperative for businesses, regardless of size, to recognize the critical importance of safeguarding data and leveraging AI responsibly. While challenges and risks may exist, so too do opportunities for innovation and growth. By understanding and partnering with the right organization. you will be approaching AI with responsibility and ethics, then you can harness the transformative power of technology to propel your organizations forward into a prosperous and secure future.

About the author

Stephen Chan is the founder of ASIA Technology Ventures and Ai Lab. As a creative and entrepreneurial thinker with deep knowledge in both business and technology, he has accomplished more than 2 decades of high-growth businesses, developed revolutionary Go-To-Market strategies, led & built teams across Asia Pacific. He also has strong understanding of technology like SaaS/Cloud infrastructure, mobile apps, developer tools, blockchain, artificial intelligence, etc. Asia Technology Ventures was founded to help Asia's businesses transform, scale and compete beyond their comfort zone.

This is driven by his personal belief that "Success is a journey, not a destination", in-line with his pursuit of helping others as the foundation for true, happy, and meaningful living.

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