According to new research from Confluent, Inc., data-related challenges are holding backAI adoption in Singapore.
Around 69% of IT leaders in Singapore believe that investments in GenAIwill trend up in the next two years, but businessesā inability to seamlessly integrate new data sources (69%), fragmented ownership of data (68%), and insufficient skills and expertise in AI/ML management (65%) stall the adoption of the technology.
āCompanies in Singapore are limiting their growth and performance if they invest in AI but not real-time data. Relevant real-time data is the fuel AI technologies need today to deliver maximum value in a timely, secure, and scalable way for organisations and their customers. Outdated or ungoverned data is not only contributing to ineffective use of AI but also poor and unreliable business decisions,ā Suvig Sharma, area vice president (AVP), ASEAN, Confluent, said.
Data-related challenges
The report also found that Singapore enterprises grapple with data-related challenges such as uncertain timeliness or quality of data (68%), governance-related disjoints (65%), fragmented data ownership (62%), inconsistency of data sources (61%); and data silos (58%) within the organisation.
Data streaming
In 2024, 82% of Singapore respondents consider data streaming an important IT investment priority. More than 73% believe that data streaming platforms can mitigate their AI and data-related challenges, and around 93% consider them critical or important for data and information-related goals.
More than 90% believe data streaming platforms broaden access to different data sources to contextualise models and ensure data quality.
