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Data modernization is squarely on the corporate agenda. In our survey of 350 senior data and technology executives, just over half say their organization has either undertaken a modernization project in the past two years or is implementing one today. An additional one-quarter plan to do so in the next two years. Other studies also consistently point to businesses' increased investment in modernizing their data estates.' It is no coincidence that this heightened attention to improving data capabilities coincides with interest in Al. especially generative Al, reaching a fever pitch. Indeed, supporting the development of Al models is among the top reasons the organizations in our research seek to modernize their data capabilities. But Al is not the only reason, or even the main one. This report seeks to understand organizations' objectives for their data modernization projects and how they are implementing such initiatives. To do so, it surveyed senior data and technology executives across industries. The research finds that many have made substantial progress and investment in data modernization.