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The first step an organization must take towards developing an AI-based application is to develop a data strategy. The correct answer is option D. Here's an in-depth explanation: Importance of Data:Data is the foundation of any AI system. Without a well-defined data strategy, AI initiatives are likely to fail because the model's performance heavily depends on the quality and quantity of data. Components of a Data Strategy:A comprehensive data strategy includes data collection, storage, management, and ensuring data quality. It also involves establishing data governance policies to maintain data integrity and security. Alignment with Business Goals:The data strategy should align with the organization's business goals to ensure that the AI applications developed are relevant and add value. References: Davenport, T. H., & Ronanki, R. (2018). Artificial intelligence for the real world. Harvard Business Review, 96(1), 108-116. Marr, B. (2017). Data Strategy: How to Profit from a World of Big Data, Analytics and the Internet of Things. Kogan Page Publishers.
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