4 Ways AI and Blockchain Transform Information Governance
Recently Nyxeia (formerly Everteam, Inc.) held an IG insights discussion, “AI, Blockchain and Emerging Tech.” In this session, we explored AI and Blockchain’s impact on core information governance processes and records management practices. Below are 4 key takeaways from the conversation:
- ECM is moving toward federated information governance. Exploding data volumes and increased diversity in the IT ecosystem make centralized information management difficult. In the past, we couldn’t manage information in-place because the technology to do so was limited. Today, indexing and connector-based technologies allow us to analyze very large amounts of data and content in-place. This is the federated approach to information management.
- AI makes in-place information management possible. Machine learning, deep learning, and natural language processing technologies can search disparate data from multiple repositories and analyzes it to enhance metadata, classify content, and manage document lifecycles. AI is an increasingly important tool in Information Governance since the volume of information being produced daily goes beyond what can be dispositioned manually.
- Blockchain shows one version of the truth – a locked chain of custody. Blockchain records the activities and actions of a digital record in an immutable ledger maintained by multiple independent peer networks. Nothing can be deleted or changed; the entire history is recorded, showing a complete audit trail or history of that digital asset. Information Governance increasingly spans multiple players – either service providers, partner organizations, customers, etc. demonstrating this chain of custody accurately becomes more essential than ever.
“The days when humans will declare a record, tag it, and forward it to an appropriate location are done. They’re the dark ages.” – Ken Lownie
- AI and Blockchain extend the reach of Information Governance. Today, all digital content is considered a record and is subject to investigation. Governments and courts can subpoena any information that has been created, and all information is eligible for eDiscovery.
In the words of Ken Lownie, “The days when humans will declare a record, tag it, and forward it to an appropriate location are done. They’re the dark ages. If that’s where you live, it’s hard to move on. But you need to move on. Even declaring a record is obsolete.”
Treating all types of information as records requiring effective governance is more important than ever, and AI and Blockchain technologies help organizations facilitate this.
The IG and RM roles have elevated. Information Governance and Records Management are no longer afterthoughts of the day-to-day operation of your organization, they are vital enablers of it. As data collection and content creation increase exponentially, the importance of effectively governing it grows. Information security and privacy continue to be growing mandates around the world. Organizations must manage their information effectively to instill trust and loyalty with their customers and protect themselves from fines or litigation. The people who manage this information – IG and RM professionals – have a critical role to play as organizations navigate an evolving digital future. Practitioners are looking to vendors making investments in emerging technologies like AI and Blockchain to improve information governance efficacy.