According to a new study Confluent Inc.Data challenges are holding us backIntroducing AI Singapore.
Approximately 69% of IT leaders in Singapore Gen AIThis is set to increase over the next two years, but reasons for this include companies' inability to seamlessly integrate new data sources (69%), fragmented data ownership (68%), and insufficient data science skills and expertise. AI/ML Management (65%) are slowing down their technology adoption.
“Businesses in Singapore will be limited in their growth and performance if they invest in AI but not in real-time data. Relevant, real-time data is the necessary driver for today's AI technologies to deliver maximum value to organisations and their customers in a timely, secure and scalable manner. Stale or ungoverned data not only leads to inefficient use of AI, but also poor and unreliable business decisions.” Swig Sharma“We are pleased to be working with Confluent to bring these technologies to market in a timely manner,” said Mr.
Data-Related Challenges
The report also found that Singapore businesses are grappling with the following issues: Data-Related Challenges These include uncertainty about data timeliness or quality (68%), governance inconsistencies (65%), fragmented data ownership (62%), inconsistent data sources (61%) and data silos within organizations (58%).
Data Streaming
By 2024, 82% of Singapore respondents see data streaming as a key IT investment priority. Over 73% Data Streaming Platform can mitigate AI and data-related challenges, with around 93% considering AI and data-related challenges to be extremely or important to their data and information-related goals.
Over 90% believe that data streaming platforms will broaden access to different data sources, contextualize models, and ensure data quality.
