Peggy Tsai is the Field Chief Data Officer at BigID where she works with customers in maturing their AI, data, security and privacy programs. She has over 18 years of practitioner experience in data management, stewardship and governance in the financial services industry. Peggy has a Masters in Information Systems from New York University and a Bachelors of Arts in Economics from Cornell University. She is an adjunct faculty member at Carnegie Mellon’s Chief Data Officer executive program. Peggy is an Ambassador of Women Leaders in Data & AI as well as an advisor to several start-up companies.
Recently, in an exclusive interview with Digital First Magazine, Peggy shared her professional trajectory, insights on data ethics and responsible AI, personal sources of inspiration, future plans, words of wisdom, and much more. The following excerpts are taken from the interview.
Hi Peggy. Can you share your professional journey and how you became a Chief Data Officer?
I spent the first part of my career working in data and technology in financial services companies. I worked on Wall Street in companies such as S&P Global, AIG and Morgan Stanley as business analysts and data stewards. I focused on compliance and digital transformation projects where data was the main focus in the integration. I worked with global teams to define, standardize and measure the quality of their data using enterprise tools and governance frameworks. In all my roles, I enjoyed researching and evaluating new technologies to help improve data management processes which led me to work for a product company, BigID. I started out as VP of Data but quickly expanded my customer and product roles to become the company’s first Chief Data Officer. As the Chief Data Officer of a product company, I work internally on improving our security policies with data standards and help to govern our internal AI practices through a newly created AI Governance Council. I am also focused on business development activities that build the company’s brand in data, security and privacy.
What makes your role truly meaningful and impactful to you?
My role is meaningful to me because it has given me the freedom to explore the latest trends in data, analytics and AI. I am on the cutting edge of the conversations that other data executives are focused on and in the process of implementing inside their organization. I build relationships with data leaders across different industries and tie together the synergies and trends that I see from a strategic perspective. It is very impactful for me to identify these commonalities and share best practices across industries with data leaders. I enjoy helping and mentoring leaders, so my role gives me the unique raised profile to do so. In addition, I participate in industry working groups, data forums and academic programs that all work towards educating and elevating the entire community.
What are your thoughts on data ethics and responsible AI?
Data ethics and responsible AI has always been a priority for me in terms of the fair usage of data. I started talking about AI Governance more than 8 years ago when I noticed it missing on the agenda of data conferences. For me, this starts with data transparency in understanding where data is sourced, how it is curated and why it has been collected. The second part of ethical and responsible AI usage is dependent on the data engineer to be responsible in choosing the data sets to create and train the models. Lastly it is up to the analyst to interpret and evaluate the results of the AI. There can be many forms of conscious and subconscious bias that are introduced along the process which can be mitigated through various guardrails and review committees. I believe ethics is a continuous process of evaluating the fair and transparent usage and application of AI that should reflect the principles and values of the company and customers that it serves.
What emerging trends or technologies in the data space are you most excited about in the next 12-18 months?
I am most excited about the continued maturity of data management for many industries. I am seeing more focus on data literacy and AI education for many professionals that are outside the data role which makes me happy that one data the onboarding of all new employees will include data literacy. Outside of the expansion of data, I am excited to see the data governance processes to be integrated with Generative AI to assist with labeling data, creating descriptions for table structures, summarizing data tasks and identifying next steps for minimizing workflow lags. Due to the volume and scale of data – esp in unstructured data – manual intervention is still required for cross-functional teams to manage and analyze their data.
What skills or training do you think are essential for data professionals to succeed in the future?
In order for data professionals to be successful in the future, s/he needs to stay current with the latest technologies and understand how it fits in with current data technologies and architecture while being able to explain the business impact and benefits. Data professionals need to be able to develop strategic skills in knowing the business operations and linking the benefits of data to the company. Lastly, data professionals need to constantly improve their communication such as presentation skills – in terms of writing succinct emails or communication as well as creating slides – and influencing and negotiating skills to convince and sway peers to buy into their initiatives. Finally, I always believe that successful executives are strong visionary leaders that collaborate well with others. It is especially important for data professionals to be able to articulate the data strategy of the program that supports the business strategy while convincing their peers that their motives are aligned.
Is there a particular person you are grateful for who helped get you to where you are?
Throughout my career, there have been endless mentors and managers who have given me advice and career opportunities. I am grateful for those that have taken a chance on me by hiring me on their team or promoting me in the job. I am most appreciative of the companies that I worked with that created supportive and collaborative working teams. I believe that companies that invest in employee resource groups are allowing their employees to develop invaluable leadership skills. I believe that peers are also the ones that help you grow and stretch beyond your limits, so I am also grateful for my colleagues as well.
How do you keep your mind healthy and stay resilient? And how do you motivate your team?
I like to take a holistic approach to keeping my mind healthy and resilient by taking mental breaks, learning about different industry approaches, and carving out focus time to work. With the surge of changes in AI, it can be difficult to prioritize learning and staying healthy. At the same time, I believe it is important to find support from other like-minded professionals that you can create and innovate with. I always get a surge of energy with other creatives to work on new projects and initiatives that I am even more mentally focused! I believe this extends to motivating teams as well. I believe each team member needs to be engaged and ultimately aligned to the overall mission and objectives. While some of the daily work can seem redundant, each task leads to a greater purpose. There needs to be continued excitement and recognition of the hard work that the team does to meet the team goals.
How do you achieve work-life balance?
I don’t have a work-life balance. I don’t believe there is a balance because it means there is a difference between my work and my personal life. I believe in a work-life continuum where in the most extreme part of the grid, I have my Chief Data Officer job along with my adjunct faculty and teaching roles along with my data leadership roles in the community. I weave in these responsibilities and time commitments with my family time and personal interests. Often, I enjoy mixing the two together where I enjoy eating at a nice restaurant when I am traveling to a different city for work. Or on the rare occasion, my family can join me while on an extended work trip to another country. I am grateful that I am passionate about my work which is why I take on additional roles that become part of my personal life.
Where do you see yourself in the next 5 years?
I personally hate answering these questions because I believe this closes me to new undefined opportunities. If I were to ask myself this question 5 years ago, I would not have imagined my current role and situation. However, there are certain values that I will strive for in my future career which include working in new emerging technologies, being part of an energetic team that supports risk-taking and maverick thinking and working in a culture that rewards both risk takers and loyalists. I’m also keen to new challenges, developing new skillsets and being comfortable with the uncomfortable. I once told a manager that I like putting myself in uncomfortable situations because I believe that is how I test my limits and grow.
What message or advice would you give to young women or girls who are interested in pursuing a career in data, and how can we work together to create a more inclusive and equitable industry?
Firstly, for young women (or men) who are interested in pursuing a career in data, there are more resources and groups that are available than before to learn new skills and grow your network. The most important advice I have is to take the initiative and look beyond your current team and company. There are many virtual and in-person opportunities to meet and learn from your peers in other industries. I encourage everyone to take advantage of these opportunities to find a mentor and to build a support system to help you achieve your data goals. It is important to build your data, analytical and technical knowledge but also to develop your personal brand. The personal brand includes demonstrating your knowledge and expertise at public conferences, published white papers or on social media. Unfortunately, the industry is still not equitable and inclusive to all diverse backgrounds, but I believe this is slowly changing. It can only be improved by bridging support, sharing knowledge and sponsoring others within your network.