Real-time data needed for proper AI adoption

Businesses are struggling to integrate new data sources, amongst others.

Data challenges are holding back adoption of artificial intelligence (AI) in Singapore– amongst them being integration issues and insufficient security expertise within their management.

Over two-thirds (69%) of IT leaders in Singapore expect investments in gen AI to rise over the next two years, according to a survey by data streaming company Confluent.

However, IT leaders also noted that AI roll-out is weighed by businesses’ inability to seamlessly integrate new data sources (69%), fragmented ownership of data (68%), and insufficient skills and expertise in AI/ML management (65%), according to the report “2024 Data Streaming Report: Breaking Down the Barriers to Business Agility & Innovation,” which surveyed 161 IT leaders in Singapore and a total of 1,424 respondents in APAC.

This highlights the need to also invest in real-time data, according to Confluent.

“Relevant real-time data is the fuel AI technologies need today to deliver maximum value in a timely, secure, and scalable way for organizations and their customers. Outdated or ungoverned data is not only contributing to ineffective use of AI but also poor and unreliable business decisions,” said Suvig Sharma, Area Vice President (AVP), ASEAN, Confluent.

Almost 7 in 10 (66%) of Singapore’s IT leaders indicated that they are having difficulty integrating new data sources seamlessly into their businesses. 

Almost the same proportion (68%) also talked about struggles with fragmented ownership of data across disparate systems.