AI's need for data could breathe new life into a once-buzzy corner of Wall Street (www.businessinsider.com)

AI companies are intensifying their focus on gathering a wide array of internal corporate data, such as Slack messages, memos, transaction records, and onboarding documents. This trend is spurred by the need for AI tools to deeply understand workplace tasks in order to efficiently automate them. Business Insider recently examined this evolving market, highlighting the surge in demand for data classified as "alternative data," which encompasses diverse unstructured datasets that are expected to provide companies with unique insights into operations and trends. This growing emphasis on data acquisition could revitalize a sector that once thrived on alternative data approaches during the mid-2010s. While hedge funds have historically made use of such datasets for trading advantages, the current climate presents a significant opportunity for corporate AI requirements. As companies like former Point72 data strategist Kirk McKeown's startup demonstrate, the goal is to package this data in formats optimal for AI model ingestion. However, challenges remain regarding data quality and scalability, which may impact how effectively this data can be leveraged. Ultimately, this shift signifies an important turning point for both AI development and the broader data market, suggesting a promising convergence of corporate needs and AI innovation.