Data is the new oil. It will fuel and accelerate the digital journey for enterprises. In recent years, the growing effort of enterprise digitization has increased the data volume exponentially. However, the data is only valuable if it is in usable form, just like crude oil has to go through transformation to become useful products.  To capitalize on the potentials the data can offer, UBS Group Functions is building a strategic data platform and embarking on AI as a powerful force to unlock the value of the data for risk reduction, cost savings, and achieving service excellence. In this talk, I will overview our effort on building the strategic data platform, a cloud based, multi-tenant shared digital data platform which provides data as service to its consumers, while addressing stringent data requirements imposed by regulations.  I will discuss some of the challenges we are facing and how we address the challenges by the data platform and specifically the role of AI in resolving these challenges. More specifically, a set of AI empowered data utilities will be presented to showcase how to govern the data across divisions on data lineage effectively, how to add guardrails on data quality through anomaly detection,  and how to discover and prevent data redundancy in the data lake.